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
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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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