Nile Niami’s ‘The One’ is back in headlines due to the $165 million dollar debt being in default. We’ve been talking about The Most Expensive Home in America on this channel for a while. If you haven’t seen my tour of this amazing property, check it out!
LINK TO PART 1 OF MY TOUR VIDEO
-https://youtu.be/B-isl-_4p68
LINK TO PART 2 OF MY TOUR VIDEO
-https://youtu.be/Fa6ljXOiU8s
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The One is known by a lot of people now as the biggest and most expensive home in the urban world. It was once rumored to be priced at $500 million dollars, but has had some recent financial trouble due to the developer Nile Niami not staying current on his loans, and dragging out the build process. CNBC did this article titled “Most expensive home in America defaults on $165 million in debt, heads for sale” and I had to react to the article, because we have been talking about The One here on my channel for months now. Let me know what you think about the latest developments around Nile Niami’s $500 million dollar home. And don’t forget to check out the tour that I did of The One here on my YouTube channel! (links above)
I hope that you help this video to help helpful and if you have additional questions please leave them in the comments below! I look forward to sharing more with you guys about my real estate journey. I have flipped houses, done spec building, been into wholesaling, commercial real estate, and have a pretty well rounded finance background as well.
See you next video!
-Scott
#theone #nileniami #500milliondollarhome
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What do you think that The One will ultimately sell for?
Sells for .20cents on the dollar.
The house is ugly!!!!!
So they can borrow 165 million for this project while the bank wants full docs and a credit check for a 5k loan.
Another foreclosure headed to the auction. I'm starting the bid at $5k.
Thanks for the positive context, I love the house irrespective it's not yet completed and how much is gonna sell for.
I wish the developer, architecture, investors and all those involved in The One project well and luck to see it to the finish line. I'm aware it wasn't easy thus far, and wish well to ultimate buyer in the end.
Expensive ego project got out of hand, he needed a money man to rein him in sooner,
Did you see Producer Michael tour Nile's house before he sold it? He essentially said everything is for sale that he owns and sold his $40 million house for 26 million. There is gonna be an actual follow up interview with Nile about The One status on Producer Michael channel soon.
Hankey Capitsl. Is that Mr. Hankey?
Solid Update
so basically he needs the sell it for at least 200 million. Personally I have no problem with the building the man had a dream and he tried to pursue it.. There's always going to be somebody / group with negative things to say maybe they're jealous maybe that's just how they feel about the building
I’m going to bet that it sells for less than $150m. There are many amazing homes in that area for sale for less than $100m. Perhaps some oil sheik from the Mid East would want it.
Maybe some country will buy for a Consulate.
You can’t borrow that much money without putting down some collateral. My question is did the seller put up his home(s) as collateral and would those be foreclosed should the sale be less than the loan(s)?
Niles video with Producer Michael didn't show the best light on this property. I however enjoyed your tour.