Bel Air · Provenance Record
The One, 944 Airole Way
$126,000,000 · recorded 2022
Los Angeles, CA
The 105,000-square-foot Bel Air megamansion, ten years in the making and once marketed at $500 million, was sold out of bankruptcy at a Concierge Auctions sale on March 3, 2022, for a $126 million hammer price — a record for any home ever sold at auction in the United States. With Concierge Auctions' 12 percent buyer's premium, the winning bidder's total obligation came to $141 million. Fashion Nova founder Richard Saghian was confirmed days later as the buyer.
Sale Price
$126,000,000
Record Date
March 2022
Status
Closed (Auction)
Property Type
Single-Family Estate / Compound
Listing Agent(s)
Listing Brokerage
Compass; The Beverly Hills Estates
Buyer’s Agent(s)
Buyer’s Brokerage
The Beverly Hills Estates; Hilton & Hyland
Ownership Lineage
Every press-verified change of hands on record for this property, in order.
Sold · $28,000,000
Nile Niami buys the eight-acre promontory site
Developer Nile Niami purchases the eight-acre Bel Air promontory for $28 million from Rita Kogan, daughter of Space Invaders creator Michael Kogan, and begins a decade-long build of the largest modern spec home in the country.
Sources: The Hollywood Reporter
Sold · $126,000,000 (Auction)
The One sells at auction for a record $126 million
Following Niami's Crestlloyd bankruptcy, the estate sells via Concierge Auctions on March 3, 2022, for a $126 million hammer price ($141 million including the buyer's premium), a record for any auctioned home in the United States. Fashion Nova founder Richard Saghian is confirmed as the winning bidder days later. Aaron Kirman of Compass and Branden and Rayni Williams of The Beverly Hills Estates represent the seller; Branden and Rayni Williams, alongside Stuart Vetterick of Hilton & Hyland, represent Saghian — making Branden and Rayni Williams agents of record on both sides of the transaction.
Sources: Global Property Inc., Fortune / Bloomberg, Robb Report, The Williams Estates
Press Citations
Every fact on this page traces to one of these sources.
Global Property Inc.
The One Sold But Not Settled on Commissions
Global Property Inc., citing bankruptcy court filings, named Branden and Rayni Williams of Williams & Williams and Stuart Vetterick of Hilton & Hyland as representing buyer Richard Saghian, and Branden and Rayni Williams alongside Aaron Kirman as representing the seller.
March 2022
Fortune / Bloomberg
Fast-Fashion CEO Revealed as Winning Bidder of $141 Million Bel Air Mega-Mansion ‘The One’
Fortune confirmed Richard Saghian as the winning bidder at $126 million plus buyer's premium, and quoted agent Branden Williams describing how he, Rayni Williams, and Stuart Vetterick of Hilton & Hyland introduced Saghian to the property.
March 2022
Robb Report
Home Tour: Inside the $126 Million ‘The One’ Mansion in Bel Air
Robb Report confirmed the $126 million hammer price, the $141 million total with buyer's premium, and that Branden and Rayni Williams of The Beverly Hills Estates shared the listing with Aaron Kirman of Compass.
April 2022
The Williams Estates
The Firm's Motto: ‘We Don’t Follow Trends, We Set Them’
Branden and Rayni Williams's own brokerage profile states that on The One, they represented both the seller and the buyer.
2020
The Hollywood Reporter
Asking $295 Million, Bel Air’s ‘The One’ Mega-Mansion Is Finally Slated for Auction
The Hollywood Reporter confirmed Niami's 2012 purchase price of $28 million for the site and detailed the Crestlloyd bankruptcy that forced the auction.
January 2022
How This Record Was Verified
- Method
- Compiled from public property records, bankruptcy court filings, and named press citations. This lineage reflects only transactions independently confirmed by the sources cited.
- Open entries
- The $126,000,000 figure recorded here is the auction hammer price; the buyer's total obligation, including Concierge Auctions' 12 percent buyer's premium, is reported as $141,000,000.
- Sources
- Every fact above carries its own citation, linked in the Press Citations section. Sourced from Global Property Inc., Fortune/Bloomberg, Robb Report, The Williams Estates, and The Hollywood Reporter.
- Corrections
- Unconditional and not contingent on any commercial relationship. See Corrections Policy.