Hgh above Bel Air, Nile Niami is looking down on the tiny mansions of mere millionaires as he stands on a plywood platform that will soon be the roof deck of the house he’s selling for $500 million. When you expect a half billion dollars, everything has to scale up, including the views, and from this hilltop, they span 360 degrees—encompassing the San Gabriel Mountains, the Pacific Ocean, and, today, Niami’s Rolls-Royce Phantom convertible, parked in the driveway below. The 47-year-old developer is taking it all in . . . and explaining why he believes the property is not really so expensive when you think about it.
The home itself, when it’s finished in 2017, will have five swimming pools, a casino, a nightclub with a VIP area, a lounge with jellyfish tanks in lieu of walls and ceilings, and various other amenities that might seem excessive at the Ritz-Carlton Abu Dhabi. It will be more than 100,000 square feet, twice the size of the White House. So the price works out to about $5,000 per square foot, which, Niami notes, is less than half what several billionaires have paid for their casino-less Manhattan penthouses. “We have a very specific client in mind,” says Niami, who is wearing a slim-fitting polo shirt and a Breguet watch. “Someone who already has a $100 million yacht and has seven houses all over the world, in London and Dubai and wherever.”
Read more here: See the Most Expensive, Extravagant Mansion in L.A. | Details