This Is the Most Expensive Home Listing in the U.S. Take a Look Inside.

A 105,000-square-foot mansion in Los Angeles will become the most expensive listing in the U.S. when hits the market on Monday with a $295 million asking price. 

If it sells at that amount, the hillside property, called “The One,” will be the priciest home ever sold in the U.S. “The One” boasts 21 bedrooms, 42 full bathrooms, multiple pools, a nightclub complete with a VIP area, a bowling alley, a 40-seat movie theater, a full-service hair salon, and a 30-plus car garage, among a sprawling list of amenities.

“This is more than a compound, this is your very own world,” said luxury realtor Rayni Williams, founder of the Beverly Hills Estates. “You have everything you need, and you’re just going to bring in your friends and family.”

Williams’ group is representing the property, along with Aaron Kirman of Aaron Kirman Group at Compass. Selling a nearly $300 million house could be a daunting task for most—but Williams and Kirman aren’t worried. 

“It’s obviously the 1% of the world that we’re working with,” Williams said. “It does make the target a little bit more narrow, and in that sense, it’s a little bit easier, right? Because there’s 3,700 billionaires in the world, and we are targeting them.”

Since developer Nile Niami began working on the house a decade ago, the real estate market has caught up, Williams said, noting that her firm brokered the recent sale of a $133 million house, which is a quarter of the size of “The One.” 

Indeed, L.A.’s luxury market has been on a tear recently. Home prices in Bel-Air have risen by almost 50% since last year, according to online real estate broker Redfin.

Luxury real estate prices wavered during the initial months of the pandemic, as remote work contributed to an overall exodus from cities, said Redfin chief economist Daryl Fairweather. Now that Los Angeles has begun to reopen, people are flocking back to the city, boosting real estate values, she added.

Financing a property worth nearly $300 million is going to be very different than financing the average house, said L.A. luxury realtor Kofi Nartey, who isn’t connected with the sale.

“This kind of buyer, their amount of liquidity could be the same as the GDP of some small countries,” he said. 

In other words, these buyers aren’t offering a 20% down payment and applying for a mortgage. Whoever buys this compound will likely have the cash to buy the property outright, Nartey said. If they do need to request a loan, they tend to borrow against their assets, or secure a private line of credit with banks they have previous relationships with, often at lower interest rates than a traditional buyer would get from a mortgage, he added.

Williams agreed, saying that the purchase would likely be all cash.

The mortgage payment is just the beginning. Whoever buys the house will easily have to pay more than $1 million a year on maintenance, and some $4 million in property taxes, Nartey estimated.

The house lists on Monday, but Kirman said the brokerage is committed to taking the property to auction from Feb. 29 to March 2 unless they receive an offer that’s too good to pass on. The partnership with the auction house emerged from what Williams called an “amicable” bankruptcy agreement between developer Niami and his lenders, after the developer defaulted on more than $100 million in loans and debt in October.

Interest in “The One” has already proven to be strong, and will continue to grow around the time of the auction, Kirman added. In terms of potential buyers? “We’re seeing technology, crypto, we’re seeing foreign, we’re seeing localized,” she said. “The reception for the official launch has been incredible.”

Nartey doesn’t believe the house will sell before the auction, as buyers tend to assume they’ll get a better deal then. He’s also skeptical that the house will go for the $295 million asking price.

His bet? “I’m gonna say $190 million is where it goes.” 

However, Kirman is optimistic that the house will sell “really close” to its asking price,given the strong interest so far. 

“In this moment in time, with, you know, everything from Covid to people just wanting to be in their space and having their space, I think this is the perfect time to bring this house to market because there’s never been a house that’s had so much space and so many amenities,” he said.