News · moment 17 of 21
The Story of 'The One' Mega-Mansion's Debt
from #290 - Let's Take A Beat | The Tim Dillon Show · #290
3 min
News
Tim reads from an LA Times article about the developer of the massive LA mansion 'The One,' who took a $90 million subprime loan from Westlake Financial and planned celebrity boxing and hologram concerts to make money instead of selling.
- Tim recommends subscribing to major newspapers including the New York Times, LA Times, Wall Street Journal, Miami Herald, Chicago Tribune, and Boston Globe.
- The developer of 'The One' mega-mansion took a $90 million subprime loan from Westlake Financial, a hard money lender, to build the 100,000 square-foot house.
- Unable to sell the property, the billionaire developer proposed holding celebrity boxing events and hologram performances of Michael Jackson and Whitney Houston to generate income instead of flipping the house.
- Tim notes the absurdity of building something this massive and expensive while expecting to sell it for profit.
Westlake FinancialLA TimesNew York TimesBoston GlobeWall Street JournalCleveland Plain DealerChicago Tribunemega mansionLori Lightfoot