Talk about putting all your eggs in one basket! Real estate developer Nile Niami spent seven years building a house that is ready to go on the market. The asking price is $500 million, which would make it the most expensive home ever sold in the US. Now, three acres in Los Angeles will bring a pretty penny, but most of the cost comes from the 100,000-square-foot structure.
Replete with a nightclub, four swimming pools, bowling alley and 360-degree vistas of sun-dappled Southern California, the symbol of America’s latest gilded age has generated a flood of media coverage since the price was announced in 2015.
Is it worth that much? As with anything, this home is worth exactly as much as someone is willing to pay for it. Niami says he has interested parties, but the number of potential buyers is relatively small. If you had a half a billion to spend on a home, wouldn't you prefer to have it built to your own tastes? And if you were a real estate developer, wouldn't it be more prudent to build 500 homes to sell for a million dollars each? Read about the nation's most expensive home at Bloomberg. -via Digg
(Image credit: Michael Leonard/The Society Group)