Mr. Niami said through a spokesperson that he and his ex-wife Yvonne Niami ended up losing $44 million on the project, plus 10 years of my life.. The house had a $400,000 Lucite-bottom swimming pool and a custom-made 24-foot gold giraffe skeleton sculpture in a glass box. Concerned about how his money was being spent, Mr. Hankey said he required Mr. Niami to work with a local development firm to help oversee construction. After several controversies surrounding the property, it was sold in March 2022 for $126 million, after the bankruptcy court judge authorized the sale despite objections from Niami. It sold for only $126 million, a price significantly lower than originally projected. Yvonne filed for divorce in January 2017 after 18 years of marriage. Nile Niami is a former film producer. Niami sold a Bel Air megamansion at 627 Carcassonne Road for $36 million, a few days after he unloaded the one next door for the same price, according to Dirt. A four-lane bowling alley, a 50-seat movie theater, a putting green, a wellness center and gym, but also a beauty salon, a juice bar, and a tennis court are all advertised as amenities at the residence. Around that time, he began buying small homes in the San Fernando Valley as a side business, fixing them up and flipping them, he told The Wall Street Journal in 2018. Previously, he was married toYvonne Niami. As his career in film came to a close, Nile began working as a real estate developer. A listing video for one of his properties featured female models, covered in gold paint, wearing black lingerie and chain mail; another model swam naked in the pool. Mr. Niami also used unconventional marketing techniques, real-estate agents said. While we work diligently to ensure that our numbers are as accurate as possible, unless otherwise indicated they are only estimates. Crestlloyd filed for bankruptcy in October 2021 and the home was put into receivership by the courts, where Ted Lanes of Lanes Management would complete and sell the home. In the year leading up to the auction, the Williamses said, they brought Mr. Niami several offers from Middle Eastern buyers, but he never acknowledged them. In March 2021, Crestlloyd (Nile Niamis LLC) defaulted on over $165 million worth of debt from the construction of The One. Because of the debt, the massive mansion went into receivership. He built two mansions in the Holmby Hills neighborhood. The Nile is of American nationality, and based on his looks, he appears to be of mixed white ancestry. The upcoming real estate projects Nile is working on will significantly increase the value of his current net worth. This films title varies around the world, in some places renamed A.D.N. Mr. Niami disputed that characterization through his spokespeople, saying he never received a single offer. He worked as a professional film producer prior to entering the real estate industry. In the same year, he also created the romantic crime drama Tart.. Later, Niami founded his own production company and produced over a dozen films, many of them were straight-to-video B movies. Niami borrowed tens of millions of dollars over the years to fund the massive project. McClean uses his years of experience to create visually interesting, modern living areas. The Biltmore Estate in North Carolina, with 178,926 square feet, takes first place, followed by New Yorks own Oheka Castle, with 109,000 square feet. Tragically, a house invader killed his mother in 2001. Frequent headlines about the house were also a deterrent to buyers, agents said. At the age of 19, he started working with his elder brother Doug Witkins. The 105,000-square-foot Bel Air behemoth, billed as the worlds largest and most expensive urban property, was commissioned almost a decade ago by the producer turned developer. For the optimum Mansion Global experience, please turn off any ad blockers and refresh this page. On the final day of the online auction, the bidding was stalled at around $60 million, and the agents were in a panic, Ms. Williams said. [4][2] He built a house in Trousdale Estates, a neighborhood in the city of Beverly Hills, with "a spinning car turntable, similar to those in auto showrooms, that's visible from the living room. He began working as a real estate developer. However, some experts place his net worth significantly lower, around $10 million. By. Movies. In a failed venture, Nile created an app for single men looking for friends. The home, called The One, was auctioned off on Thursday night March 3, with the top price of $126 million. He started out as a film producer then transitioned into the real estate development world. Niami told reporters at the time that he was working on a deal. In 2020, Opus defaulted by the lender and force Nile to turn over ownership of the property. According to Laura Brady, CEO of Concierge Auctions, which auctioned the mansion, the total transaction price would be $141 million, including the buyers premium. The owner of Fashion Nova", "Scooter Braun sells to developer building $500-million Bel-Air compound", https://en.wikipedia.org/w/index.php?title=Nile_Niami&oldid=1140607178, This page was last edited on 20 February 2023, at 21:58. And hes a smart guy. Mr. McClean said Mr. Niami had a knack for equipping his homes with flourishes that appealed to wealthy buyers: a monogrammed towel here, a spritz of perfume there. In October 2022, Nile Niami opened the first location of Crustica, a healthy pizza joint, in West Hollywood. Nile Niami and His INSANE $500M Mansion! Today, he is most known for building extravagant residences in Los Angeles that may cost $100 million or more. [15] It did not receive an offer and on March 4, 2022, The property was sold at auction for US$127 million, becoming one of the most expensive houses ever sold at an auction in the United States. However, while the mansion was formerly advertised as the largest in the country, it is no longer the case. Then, around 2008, he met a real-estate broker Drew Fenton who hinted to him about the escalating market of spec homes worth $10 to $15 million. The One, which lies on 3.8 acres and has 21 bedrooms and 42 bathrooms, rises like a spaceship from the manicured hills of Bel Air. The sale price includes a gold Lamborghini, a gold Rolls-Royce Dawn a full-time house manager whose salary would be covered for two years. He sold it in December 2020 for $ 9.58 million. Known since its inception by colorful and controversial developer Nile Niami simply as "The One," the monstrous and still-incomplete Los Angeles structure is 10 years in the making. Niami, known. -Scott #nileniami #theoneDisclaimer: This channel, and any communication shared during these videos, should not be taken as financial or legal advice. Nile Niami's "The One" is in court-appointed receivership after the spec developer defaulted on more than $165 million in debt he borrowed to build the Bel Air behemoth. She holds a bachelor degree in computer science from Shivaji University in 2020 and has done a masters in business administration specializing in business analytics from Pune University. He mentioned to Nile Niami the growing market for spec houses and apartments valued between $10 & $15 million. She is responsible for overseeingthe daily flow of content across EC The Hubs digital channels, as well as editing, writing and managing content for EC The Hubs website and blog. On a hilltop in Bel Air, a 100,000-square-foot gigamansion is under construction, for no one in particular. Mr. Saghian declined to comment on that accusation. The only thing we know is that he was schooled by a remarkable instructor who also happened to be his mother. At that point, Mr. Niami told the Journal that the stress of his business was taking a toll. David Cronenberg also had a cameo role in the film as a priest. During their marriage, they participated in many philanthropic endeavors. [2][4][5] He produced 15 films, many of them B movies, before he started building small condominiums and renovating homes to sell. Niami had been educated by his mother, a special education teacher. In 1998, he was also a producer of the motion pictures Point Black, The Patriot, and The Survivor. The Nile is said to have a special affinity with his sons. After an eight-year development, it will be completed in 2021. More: Jeff Bezoss Parents Buy Miami Megamansion for $34 Million. He collaborated with architect Paul McClean in many of his projects. In January 2022, the enormous property was listed for $295 million. He had cash-flow problems, Mr. Hankey said of Mr. Niami. Initially, he thought no one would be interested in high-valued specs homes. He declared, Im gonna make an offer.. Nile pushed the spec market into existence, said architect Paul McClean, who was once a frequent collaborator of Mr. Niamis. When he was 19 years old, Nile Niami began working with his Big Brother tutor, Doug Witkins. Originally, the place had been expected to list for around $500 million, so you could be scoring a sweet deal, depending on how one looks at it. Most of his accounts are verified accounts, something many high-profile individuals do to assure followers of their authenticity. His other projects included a property in Holmby Hills that sold for $39 million to rapper Sean Combs in 2014. Shares the stories you may have missed from the world of luxury real estate. He grew up dirt poor in LA's San Fernando Valley. She worked as a special education teacher during the day and owned a bar at night in Burbank. Menu. It was 2011, and she was waiting for a potential buyer. In today's episode, we talk about this update.REAL ESTATE INVESTING COURSE -https://scottedwardrealestate.com/real-estate-investing-course/FOLLOW ME ON INSTAGRAM -https://www.instagram.com/scottedwardrealestate/ CHECK OUT MY WEBSITE (for more info about my real estate investing story) -https://www.scottedwardrealestate.comMEET WITH ME ONE-ON-ONE to talk about real estate investing, starting a youtube channel, or anything else. In 2017, Ms. Niami, his wife of 18 years and the mother of his two children, had filed for divorce, records show. Outside of The One, Niami has also worked extensively with top-tier architect, Paul McClean. In 1998, Niami produced Point Blank, a direct-release film starring Mickey Rourke. This site includes affiliate links. He first stepped into the public eye as a film producer, producing over a dozen films over the years. The Nile and his wife got divorced due of unbridgeable differences. And while the Williamses said they had been working for several years to find a buyer, the house had never officially been on the market. He is very well known as the daring man who builds big mansions for celebrities. In 1995, he produced the sci-fi thriller film Galaxies as a result. The guy was Nile Niami, then an up-and-coming developer in his early 40s with ambitious plans in the L.A. spec-home space. He was selling a lifestyle, Mr. McClean said. Instead of selling the massive home for $340 million as planned, it was sold at auction to recoup some of the debt incurred by Niamis company. He worked on developing and flipping houses. Nile was born in the year 196 in Los Angeles, California. He gained his wealth from his years as a film producer, followed by two decades of work as a real estate developer. Niami, the mega mansions developer, assisted in the mega mansions Chapter 11 bankruptcy filing last year. in 1997, "Point Blank", "The Patriot" in 1998, "The Survivor" in 1998, "Resurrection" in 1999, "The Watcher" in 2000, and "Camouflage" and "Tart", both in 2001. January 3, 2022. https://woodgram.com/, Jennifer Shrader Lawrence (born August 15, 1990) is an American actress. Unfortunately, the property was seized when Niamis company filed for bankruptcy. As his producing career rose, Nile began making real estate investments, flipping cheap homes in LA's suburbs. If you need financial advice, please contact a Certified Public Accountant or a Certified Financial Planner or other licensed professional. Producer: The Watcher. Suddenly, a new bidder entered the fray, placing a bid of $90 million: Mr. Saghian had changed his mind. Thanks for visiting Us. Nile Niami is a fo. Now, as a real estate developer in Los Angeles, Niami built a home in lowly hills that was valued at the US $44 million and was sold to a buyer from Saudi Arabia. Mr. Niami had purchased the site in 2012 for $28 million, according to property records. Nile Niami (born February 25, 1968) is an Iraqi American former film producer turned real estate developer, who has built and sold multi-million dollar mansions in the Los Angeles neighborhoods of Bel Air and Holmby Hills. The case included Jurgen Prochnow and Mark Damascus. They had been married for almost 18 years before splitting up and getting divorced in 2017. Do you know how much these celebrities earn? Nile Niami Was Born When? If the loan proceeds had been disbursed for construction costs during the period when they were promised, the house would have been completed, all problems fixed, and [the certificate of occupancy] obtained, he said. We priced our loan a bit higher than the normal because there was extra risk involved. Mr. Niamis spokespeople said he believes the loan was priced comparably to Mr. Hankeys other loans. He is currently working on launching The One Truth Network, a massive undertaking set to be released in early June 2022. The divorce filing cited irreconcilable differences as the reason for their separation. He is best known for constructing a 105,000 sq. Mr. Niami said he was renting the homes to third parties at the time. EcTheHub is a part of the Scaleit Fox, 2023 Operated by Scaleit Fox Address : 8900 Greenback Ln, orangevale, California You know why? He immediately came to the conclusion that he couldnt make a living as a producer. He also built a massive home in Trousdale Estates (a neighborhood in Beverly Hills) that featured a spinning car turntable visible from the living room. After the couple split, Mr. Niami developed a reputation in the real-estate industry as a party boy, according to business associates who worked with him during that period. A planned foreclosure sale was temporarily halted as a result of the action. He finally sold it in December 2020 for $9.58 million. Niami borrowed most . He said that construction on The One stopped and started over the years because funds were disbursed slowly by Mr. Hankey, and that Mr. Niami had to advance money to pay for the construction. In 2015, GQ reported that the mansion was the most expensive mansion in history. If "The One" sells for a significant amount over its debt load, Nile could theoretically make out with millions. His mother worked nights at the Burbank bar she owned while still teaching special education. Nile Niami is an American film producer as well as real estate developer, who build and sold million-dollar mansions. While still a high school student, he pursued cosmetology training after school. However, Nile Niami has a verified Instagram profile, where hes shared only six posts. Nile's net worth is somewhat hard to pin down because a large chunk of his assets and risk is currently tied up in a mansion called "The One" which is the subject of many lawsuits and around $165 million worth of loans. But Mr. Niami soon found himself facing more competition amid a glut of spec homes. The One is also the most expensive residence ever sold at auction in the United States and the world, surpassing a mansion auctioned in Beverly Park last year for $51 million. His app, Wolfpack, is no longer available. Designed by architect Paul McClean and developed by Niami, the property also offered nearly $12 million worth of Lamborghinis, Rolls-Royces, and Damien Hirst paintings. He then sold the global film rights to Witkins production business. Mr. Niami was also undergoing changes in his personal life. But the price didnt come close to covering the propertys other outstanding debts and the money the Niamis put into The One. Yvonne Niami, ex-wife of colorful developer Nile Niami, sold her 12,000-square-foot Bel Air mansion for $27 million, or $2,265 per square foot, according to property listing sites. 1968 saw the birth of Nile Niami in Bel Air, Los Angeles, California. if(typeof ez_ad_units!='undefined'){ez_ad_units.push([[336,280],'biographyhost_com-medrectangle-4','ezslot_7',115,'0','0'])};__ez_fad_position('div-gpt-ad-biographyhost_com-medrectangle-4-0'); In 1998, he produced filmsPoint Black,The Patriot, andThe Survivor. Who is this guy? Ms. Williams said she recalls thinking when he announced such a quick decision. For many buyers, it was too large, more like an office park than a private residence. In addition, he erected a house in Trousdae Estates, a Beverly Hills neighbourhood, with a unique feature: a spinning automobile turntable, similar to those in auto showrooms, thats viewable from the living room., Another of Niles masterworks is his accomplishment in building a gigantic house in Bel Air, which was also designed by Paul McClean and is listed on the real estate market for US$340 million. Chris Hemsworths net worth is $130 million as of 2023. A multiday online auction was scheduled for March of 2022. He also talked about launching a cryptocurrency based around The One, a bank called The One, and a television network called The One Truth Network. Leave your comments down below! However, as Niamis hopes and dwellings grew, so did his losses. The price was one of the highest ever obtained for an L.A. home, and Mr. Hankey said he would likely recoup all the funds he provided for the project. Before he began constructing little condominiums and remodeling houses for resale, he produced . Shirleyjoined EC The Hub inlate2016in the newly created position of managing editor, designed to help the foundation bolster its editorial systems and capacity. Since his acrimonious public divorce, he hasnt been seen with anybody and hasnt made any public announcements about his relationship status. Nile Niami was born on 25 February 1968, his age is 54 years old as of 2022. Who is Nile Niami American producer of movies and real estate developer Nile Niami. A 5,000-square-foot master retreat with its own pool, as well as a two-story library/office with a balcony, LED and black hand-lacquered built-ins from Italy, and water features, are among the other attractions. Bryce is apparently 18 years old, and his younger son Brent is 15 years old. He dubbed the 20,500 square-foot spec home "Opus". Nile Niami is well-known as a professional realtor. This marks the first of the 50 locations that Nile Niami plans to open. We do not provide professional financial advice, and we encourage you to seek out a licensed financial professional for such services. Later, Niami founded his own production company and produced over a dozen films, many of them were straight-to-video B movies. A decade in the making, mega-mansion developer Nile Niami's dream of constructing "the One," a 105,000-square-foot spec mansion on a five-acre parcel in Bel-Air, has been buried under $165. A 105,000-square-foot Los Angeles megamansion known as "The One" sold at a bankruptcy auction for $141 million. Don Hankey, a subprime banking giant from Los Angeles, was the projects largest lender, lending more than $125 million. His mom, who raised him alone, was a special education teacher. Today, he is most known for building extravagant residences in Los Angeles that may cost $100 million or more. The main house has nine bedrooms. In April 2021, Chinese businessman Louis Hsieh bought Niamis Carcassonne Road 28,000-square-foot mansion for $36 million. Both properties are about the same. Niami bought the property in late 2012 for $28 million from now-deceased video game heiress Rita Kogan. Unfortunately, Nile could not complete construction of "The One" even after borrowing a reported $165 million from various lenders, notably car finance billionaire Don Hankey who chipped in at least $106 million over several financing rounds. Nile Niami is a real estate developer and film producer from the United States. According to a two-part home tour broadcast on YouTube in April, the huge property has 20 bedrooms, including eight bedrooms for the employees and a three-bedroom guest house, approximately six elevators, a library, cigar room, and confectionery room. He also commissioned architect Paul Mcclean to design a home in the Bird Streets for the Winklevoss twins Cameron and Tyler (north of Sunset Boulevard). He began his career as a film producer before moving into real estate development. In 2014 he sold a custom-built mansion in Holmby Hills to P. Diddy for $39 million. Nile Niami. Two years later, Niami sold one of his spec homes to rapper and musician Sean Combs, a.k.a. Theres also a three-bedroom guesthouse and a seven-bedroom staff quarters with panoramic views of the ocean, city skyline, and San Gabriel Mountains. WHAT WE DID: Secured global press opportunities of the property during the construction over 3 years ago until its recent completion when the price was $500 . Opus was then valued at $38 million, far below its original asking price. 102k Followers, 3 Following, 41 Posts - See Instagram photos and videos from The One (@nileniami) Furthermore, he has created numerous popular programmes and films, like The Galaxies, The Watcher(2000), The Patriot, and The Survivor(1988), which helped him make millions. Similarly, after three years, in 2017, he sold a $26 million mansion to Floyd Mayweather. Hes passionate about helping connect modern living with the surrounding natural features of a property. It seemed to intrigue Mr. Saghian, Mr. Vetterick said, but he wasnt sold. all Biography and data about your favorite person are correct. In 2000, he produced the thriller movie The Watcher. In the same year, he created the action comedy film Camouflage. Also, he produced a romantic crime drama titled Tart in 2001. Trending. Nile Niami, is a well-known American film producer and real estate developer, with a net worth of $55 million. [3] The residential property features nine bedrooms, multiple kitchens, a nightclub, four-lane bowling alley, salon, gym, 50-seat theater, a running track, a 50-car underground garage, and a moat. Choose items to buy together. Nile Niami was born on 25 February 1968, his age is 54 years old as of 2022. By the onset of the pandemic in 2020, Mr. Niami still hadnt completed The One. Knowing his net worth reveals that he lives a wealthy and comfortable life as a result of his excellent and well-paying work. This pizza comes with mushrooms, 2g of Alba white truffles and 24k gold flakes served on a gold-plated engraved tray. Nile Niami has a net worth of US$ 50 million as of 2022. Ted Lanes of Lanes Management was appointed as receiver. During L.A.s Covid-19 lockdowns in 2020, eight citations were issued for illegal parties at properties owned by Mr. Niami, according to the Los Angeles Police Department. The bigger they are, the harder they fall, goes the old adage, and that definitely applies to Nile Niamis colossal mega-mansion, The One, which has gone into receivership after amassing millions of dollars in loans and obligations. Nile Niami is an American film producer and real estate developer. One was sold to a Saudi buyer for $44 million and the other was sold to musician Sean P. Nile Niami is a real estate developer and film producer from the United States. He worked in special effects for low-budget movies before starting his own production company in 1994. Before he moved to real estate development, he produced roughly 15 movies. Everyone Wants to Know His Early Life, Career, Education, Awards & Much More! The home boasts 19 bedrooms, 37 bathrooms, a 10,000 bottle wine cellar, nightclub,. Bryce is apparently 18 years old, and his younger son Brent is 15 years old. This account is based on interviews with lenders, business associates, personal friends, real-estate agents and construction experts who interacted with Mr. Niami while he was building The One.
Sysco Payment Portal, Carlynton School District Superintendent, Muslim Population In Uk 2022, Articles N