As of 2022, his net worth was approximately $50 million. In March 2021, Crestlloyd (Nile Niamis LLC) defaulted on over $165 million worth of debt from the construction of The One. Because of the debt, the massive mansion went into receivership. Bryce and Brent Niami are the names of Niles kids. Nile Niami is a well-known American filmmaker who went on to become one of the worlds greatest and most well-known real estate developers. The 105,000-square-foot Bel Air estate, known as "The One," was placed into receivership and is expected to be relisted at a lower price. In 2017, Nile completed work on a home in Beverly Hills which he soon listed for $100 million. [12] A foreclosure sale scheduled for October 2021 was halted when Crestlloyd filed for Chapter 11 bankruptcy.[13]. He gained his wealth from his years as a film producer, followed by two decades of work as a real estate developer. While we work diligently to ensure that our numbers are as accurate as possible, unless otherwise indicated they are only estimates. Additionally, he built about 30 luxury homes in Los Angeles. He began his career as a film producer before moving into real estate development. Please see our full disclaimer for more details. This film was released in 1997 and directed by William Mesa. He rose to prominenceRead More Tom Hiddleston Biography, Age, Height, Child, Taylor Swift, Girlfriend, Loki, Movies, Net Worth & Wiki, Khabane Khaby Lame, better known as Khaby Lame, is a Senegalese TikToker, YouTuber, Instagrammer, and social media celebrity. In the same year, he also created the romantic crime drama Tart.. The Making of the Most Expensive Mansion in History. There are several lenders who are still owned millions and millions of dollars, and they are fighting for their money. He is currently working on launching The One Truth Network, a massive undertaking set to be released in early June 2022. There was no reserve price on the property, meaning it would sell to the highest bidder, no matter what the price. He started his own production company a few years later. However, we do not have access to information on his schooling. He also built a massive home in Trousdale Estates (a neighborhood in Beverly Hills) that featured a spinning car turntable visible from the living room. Nile Niami is a real estate developer and film producer from the United States. T.N.T., his debut action film, was released in 1997. A four-lane bowling alley, a 50-seat movie theater, a putting green, a wellness center and gym, but also a beauty salon, a juice bar, and a tennis court are all advertised as amenities at the residence. Nile Niami (born February 25, 1968) is an Iraqi American former film producer turned real estate developer, who has built and sold multi-million dollar mansions in the Los Angeles neighborhoods of Bel Air and Holmby Hills. Mr. Hankey said the loan allowed Mr. Niami to pay off some of the tens of millions of dollars in debt on the property and provided funds to help finish the project, which was about 80% complete at the time. Nile's net worth is somewhat hard to pin down because a large chunk of his assets and risk is currently tied up in a mansion called "The One" which is the subject of many lawsuits and around $165 million worth of loans. Niami had developed the art of selling at a very young age. He then sold the global film rights to Witkins production business. A listing video for one of his properties featured female models, covered in gold paint, wearing black lingerie and chain mail; another model swam naked in the pool. He also produced the romantic crime drama Tart that same year. Mr. Niami said through his spokespeople that if I were allowed to follow that dream, all of the investors and lenders would have been paid in full, and I would have been in profit on the project.. The upcoming real estate projects Nile is working on will significantly increase the value of his current net worth. Unfortunately, the property was seized when Niamis company filed for bankruptcy. American producer of movies and real estate developer Nile Niami. EC The Hub may cover news associated with technology, devices, and the Digital world. I believe you will find many captains of industry attending Burning Man in attire not appropriate for the board room, Mr. Niami said through his spokespeople. In addition, you also get a private dinner with Nile Niami at Providence (a Michelin-star restaurant) and a $2,000 donation to Childrens Hospital Los Angeles in your name. According to sources, despite the fact that construction has been ongoing for so long, there is already broken marble that needs to be repaired by one of the pools. I (Scott Edward) am not a CPA, attorney, insurance, or financial advisor and the information in these videos shall not be construed as tax, legal, insurance, construction, engineering, health and safety, or financial advice. Nile Niami is not particularly active on social media sites. Viewers should retain their own legal counsel or financial expert(s) before making their own decisions. He produced the thriller The Watcher in 2000. After some years, Niami established his own production firm. ABOUT: Built by ex-movie producer turned mega mansion developer, NILE NIAMI, The ONE will be America's largest and most expensive private residence . Niami had been educated by his mother, a special education teacher. Nile Niami is a real estate developer based in Southern California. Mr. Saghian and Mr. Niami had first met a few years earlier, when Mr. Niami gave Mr. Saghian a tour of The One. The owner of Fashion Nova", "Scooter Braun sells to developer building $500-million Bel-Air compound", https://en.wikipedia.org/w/index.php?title=Nile_Niami&oldid=1140607178, This page was last edited on 20 February 2023, at 21:58. Links included in this description might be affiliate links. Mr. McClean said Mr. Niami had a knack for equipping his homes with flourishes that appealed to wealthy buyers: a monogrammed towel here, a spritz of perfume there. About the time of the bankruptcy filing, fashion mogul Richard Saghian had spent about five years looking for his L.A. dream house. If the loan proceeds had been disbursed for construction costs during the period when they were promised, the house would have been completed, all problems fixed, and [the certificate of occupancy] obtained, he said. Many of the homes he built sold for significant sums, helping him to amass his fortune. While he viewed the $500 million price tag as a marketing stunt, Mr. Hankey said, he thought that the property could command $200 million to $250 million. At that point, Mr. Niami told the Journal that the stress of his business was taking a toll. There are several kitchens. In 2001, she was tragically killed during a home invasion. Two years later he sold a mansion in Beverly Hills for $38.3 million. He worked as a professional film producer prior to entering the real estate industry. The creator of the tequila company VIVA XXXII is his ex-wife. He has turned many neglected estates intomegamansionsin Los Angeles. The case included Jurgen Prochnow and Mark Damascus. A 105,000-square-foot Los Angeles megamansion known as "The One" sold at a bankruptcy auction for $141 million. He finally sold it in December 2020 for $9.58 million. Don Hankey, a subprime banking giant from Los Angeles, was the projects largest lender, lending more than $125 million. Who is this guy? Ms. Williams said she recalls thinking when he announced such a quick decision. Originally,. His net worth is $10 millionRead More Lewis Capaldi Biography, Age, Wife, Sister, Father, Someone You Loved, Songs, Net Worth & Wiki, Christopher Hemsworth, also known as Chris Hemsworth, is an Australian actor, model, and producer. For any Updates Keep Visiting Our Websiteecthehub.com, EC The Hub is the news source for thousands of daily visitors who are looking for General News, Business updates, Entertainment News, Gaming Industry, Technology Friendly. He had mastered the craft of selling since he was a little child. This pizza comes with mushrooms, 2g of Alba white truffles and 24k gold flakes served on a gold-plated engraved tray. In 2000, he produced the thriller movie The Watcher. In the same year, he created the action comedy film Camouflage. Also, he produced a romantic crime drama titled Tart in 2001. In today's episode, we talk about this update.REAL ESTATE INVESTING COURSE -https://scottedwardrealestate.com/real-estate-investing-course/FOLLOW ME ON INSTAGRAM -https://www.instagram.com/scottedwardrealestate/ CHECK OUT MY WEBSITE (for more info about my real estate investing story) -https://www.scottedwardrealestate.comMEET WITH ME ONE-ON-ONE to talk about real estate investing, starting a youtube channel, or anything else. Real-estate agent Rayni Williams stood under the hot Los Angeles sun, her Manolo Blahnik heels digging into the dirt of a vacant development site priced at $8.995 million on tony South Mapleton Drive. It was 2011, and she was waiting for a potential buyer. Thanks for visiting Us. The The mansion became the most expensive private residence in the United States and one of the most expensive homes in the world. He also developed condo complexes. Otherwise, the lender could force a sale of the famous property, the report said. It was written by Nick Davis and directed by William Mesa. At the time, Mr. Niami was rolling his profits from other sales into building The One, using his own money on top of loans he had obtained from companies linked to Canadian investor Lucien Remillard and physician and real-estate investor Joseph Englanoff. He constructed upon his success as a movie producer and real estate developer. He produced over a dozen of films, includingThe Galaxies(1995),The Patriot(1998), andThe Watcher(2000). [2] His other projects included a property in Holmby Hills that sold for $39 million to rapper Sean Combs in 2014. During his career, he produced about a dozen films. Nile Niami is a fo. The lender gave Niami 90 days to repay the loan. Tom Hiddlestons net worth is $40million as of 2023. He paid rapper as well as singer Sean Combs, also known as P. Diddy, US$ 39 million for one of his custom-built mansions. More: Sleek Modern Home in the 90210 ZIP Code of Beverly Hills Lists for $3.5 Million. ", "In Los Angeles, a Nimby Battle Pits Millionaires vs. Billionaires", "7 Things to Know About the Coming $500 Million Mega-Mansion in Bel Air", "Diddy's New $39-Million Mansion Has an Underwater Tunnel", "The World's Largestand America's PriciestHome Is Ready for Its Close-up", "California Dreaming: Record $500 Million Tag on L.A. Home", "This Is America's Biggest, Priciest New Home", "Most expensive home in America defaults on $165 million in debt, heads for sale", "Nile Niami's L.A. Megamansion 'The One' Is Put Into Bankruptcy", "Nile Niami's Bel Air behemoth enters receivership", "A Los Angeles megamansion could sell for $295 million", "Nile Niami's The One Megamansion Sells at Auction for $126M", "So who bought L.A.'s 'The One' mega-mansion? According to the LA Times, Diddy is followed by wealthy private equity investor Brian Sheth, who has a $38 million property, and boxer Floyd Mayweather, who owns a $25 million remodeled Beverly Hills mansion. The estate includes a massive nightclub, full-service beauty salon, wellness center, four-lane bowling alley, and 10,000-bottle wine cellar, as well as a sky deck with a putting green, glass-encased jogging track, 40-seat Dolby Digital theater, five pools, and a 30-car garage with two display turntables, as promised by Niami. 420 Lexington Avenue, Suite 300 What do you think Nile Niami net worth? The hammer price is nearly $60 million less than the houses total debt, implying that numerous lenders may still lose money on the property. Some of these items ship sooner than the others. A mansion in Beverly Hills for $ 3.5 million estate development 2021 was halted when Crestlloyd filed Chapter... Worth was approximately $ 50 million at a very young age, he produced about dozen. 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