California dreaming: US$500m tag on LA home
New luxury mansions are proliferating in Los Angeles, often without buyers in place, known as building on spec
Los Angeles
ONE of the biggest homes in US history is rising on a Los Angeles hilltop, and the developer hopes to sell it for a record US$500 million.
Nile Niami, a film producer and speculative residential developer, is pouring concrete in LA's Bel Air neighbourhood for a compound with a 74,000-square-foot main residence and three smaller homes, according to city records. The project, which will take at least 20 more months to complete, will exceed 100,000 square feet, including a 5,000-square-foot master bedroom, a 30-car garage and a "Monaco-style casino," Mr Niami said.
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