The One Sells for $126 Million at Auction

• 59:39The One sold for $126 million at bankruptcy auction — a huge discount from the $295 million listing price.
• 1:00:12It set a record for the costliest house sold at auction, but fell short of California's sales record and the U.S. residence record.
• 1:00:53Tim hopes the undisclosed buyer is Putin, joking that Russian billionaires were the best bet but are pulling out due to sanctions.
• 1:01:20Roman Abramovich shouldn't be blamed for having to sell Chelsea Football Club; it's not his fault Putin went crazy.
• 1:01:38The buyer got people willing to pay $50,000 a day for commercials and films — which is not a good deal and won't recoup the investment quickly.
• 1:02:00Don Hanky, a billionaire subprime lender with an office in the Valley, is the largest creditor and lent $106 million to developer Nile Niami for the project.
• 1:02:43Nile Niami is a billionaire former film producer turned real estate developer with a net worth of $6 billion, now fighting with Hanky over the house.
• 1:03:26Don Hanky, worth $5.5 billion, is an old-school hard money lender — two billionaires fighting over this property.
• 1:03:45The house itself is heinous and ugly — especially grotesque even by L.A. standards, a big waste of money with no real aesthetic appeal.
• 1:04:24It was listed for $295 million and was supposed to be the most expensive home in America, only appealing to oligarchs and billionaire eccentrics.

Don HankyRoman AbramovichRussian oligarchsWestlake FinancialNile NaamiBel Air real estateKen GriffinMark Andre