BEL AIR (CBSLA) – One of the world’s largest homes is going on the market. A 100,000 sq. ft. megamansion in Bel Air will be listed after the developer defaulted on his loans.
The house, known as “The One” has been under construction for the past several years. The original asking price was $500 million.READ MORE: President Joe Biden Signs Inflation Reduction Act Into Law
The mansion has a bowling alley, salon, cigar room, and 50-seat movie theater inside.READ MORE: A 10-Year-Old Boy Has Part Of His Leg Amputated After Shark Attack
The developer defaulted on $100 million of debt and now the court is stepping in, forcing the house to be sold. The asking price is yet to be determined.
“There is a small handful of individuals in the world that can qualify to acquire a property like this,” said Eric Lavey, senior global real estate advisor of Sotheby’s.MORE NEWS: A Florida Judge To Hold Hearing Tuesday On Request To Unseal Mar-A-Lago Affidavit
The house needs permits finalized before it can be listed for sale.