LA mega-house could fetch half a billion

By |
If you think property prices in Sydney or Melbourne are getting out of hand, a new development in Los Angeles is probably not for you. 

The development in the LA suburb of Bel Air will feature a 6,800 square metre main residence with a 464 square metre master bedroom, a 30-car garage, a casino, four swimming pools and three separate houses across 1.6 hectares, all of which the developer believes will attract a sale price of around US$500 million. 

The development is the latest project from prolific custom house builder and movie producer Nile Niami, who expects the development to be finished in just under two years’ time. 

Niami’s half-billion dollar price tag would easily set a new record as the United States’ most expensive sale, but others believe that price is a pipe dream. 

The LA Business Journal last year estimated the property would be worth somewhere in the vicinity of US$150 million, while Jonathan Miller president of appraisal firm Miller Samuel Inc told Bloomberg he would be surprised if it came close to US$500 million. 

“I'm sceptical,” Miller said.

“My first reaction is laughter, but we're in this perpetual state of surprise as new thresholds are broken.”

The current record price in the US was set last year when an East Hamton estate in New York sold for US$147 million. 


Do you have more than $120k in your super fund? You could use your super to buy property - Find out how

Top Suburbs : sth toowoomba , ropes crossing , greenwood , north lambton , st kilda west

go back

Get help financing your investment

Do you need help finding the right loan for your investment?

When investing in property, it is important to make sure that you not only have the lowest available rate that you can get, but also have the correct loan features for your needs.

Just fill in a few details below and we'll then arrange for a local expert Aussie Mortgage Broker to contact you and work out what features or types of loans are right for your needs. We'll even help with the paperwork. Plus, our mortgage broking service is at no cost to you.

How soon would you like a mortgage?
What is your Annual Household Income i $
Do you currently own any Investment Properties?
Do you own your own residence?
How much equity do you have in all your current properties?
First Name
Last Name
Where do you live?
What number can we reach you on?
E-mail address
We value your privacy and treat all your information seriously - you can check out our privacy policy here