Nile Niami borrowed $82.5 million to build the largest house in Los Angeles; after Crestlloyd defaulted on $165 million in debt, it sold at a bankruptcy auction for $126 million

Nile Niami’s dream of building one of the most expensive homes in the world ended in a major financial loss after his Bel Air megamansion, known as “The One,” sold for $126 million at a bankruptcy auction on March 4, 2022.

The massive property, which was once expected to sell for $500 million, was developed with money borrowed through his company, Crestlloyd, which eventually defaulted on more than $165 million in debt, according to …