The mega-mansion known as "The One" sold Thursday for $126 million at a bankruptcy auction. That's a huge discount from its $295 million listing price, even with a 12% auction premium bringing the total to about $141 million.
The Bel-Air property set a new record for the costliest house sold at auction, but it fell well short of the California sales record set by venture capitalist Marc Andreessen, who purchased a Malibu estate for $177 million in October. The most ever spent on a U.S. residence was $238 million by hedge fund mogul Ken Griffin for a New York City penthouse in 2019. Several international sales have surpassed $300 million.
The buyer will be disclosed by March 8, when paperwork must be submitted to U.S. Bankruptcy Court Judge Deborah Saltzman, who will hold a hearing later this month on whether to approve the sale. It is possible that the winning bidder will be a limited liability company, a legal entity often used by the wealthy to hide their real estate purchases.
