The guy was Nile Niami, then an up-and-coming developer in his early 40s with ambitious plans in the L.A. spec-home space. In 2018, Mr. Niami received a $82.5 million loan from Don Hankey, a real-estate investor who runs a company that provides subprime car loans. We did everything we could to explain to Nile that this was a long shot and he should focus on the sale, but we werent having much luck with that, said Mr. Kirman. Everyone Wants to Know His Early Life, Career, Education, Personal Relationship, Awards & Much More! Additionally, he built about 30 luxury homes in Los Angeles. A multiday online auction was scheduled for March of 2022. He had cash-flow problems, Mr. Hankey said of Mr. Niami. Nile Niami is probably best-known for constructing a 105,000 square-foot spec home in Bel Air dubbed "The One" which he listed for $500 million. 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. He also produced a number of well-known programmers and films. Nile pushed the spec market into existence, said architect Paul McClean, who was once a frequent collaborator of Mr. Niamis. Nile Niami's Skyline Development announced it is looking for new investors to raise $250 million for a bid prior to a Friday hearing during which a Bankruptcy Court judge will consider whether. Nile Niami, is a well-known American film producer and real estate developer, with a net worth of $55 million. Since his acrimonious public divorce, he hasnt been seen with anybody and hasnt made any public announcements about his relationship status. During L.A.s Covid-19 lockdowns in 2020, eight citations were issued for illegal parties at properties owned by Mr. Niami, according to the Los Angeles Police Department. He began his career as a film producer before moving into real estate development. 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. He was raised by a single mother who was a special education teacher. Designed by architect Paul McClean and developed by Niami, the property also offered nearly $12 million worth of Lamborghinis, Rolls-Royces, and Damien Hirst paintings. We welcome all corrections and feedback using the button below. However, if any information becomes available, we will undoubtedly upload it. Nile Niami Goes BANKRUPT For "Biggest Modern Home in America"Hi there, and welcome to Inner Dive! Around this time, Mr. Niami started saying that he didnt want to sell The One at all, Mr. Kirman said, instead proposing turning it into a high-end events venue that would host boxing matches or even the Academy Awards. Outside of real estate he launched an app called Wolfpack which is designed to help single men looking for friends. In a failed venture, Nile created an app for single men looking for friends. Mr. Niami disputed that characterization through his spokespeople: I can honestly tell you I gave it 200% effort., Delivers the most important property news around the world to your inbox each weekday, COPYRIGHT 2023 MANSION GLOBAL. However, while the mansion was formerly advertised as the largest in the country, it is no longer the case. For many buyers, it was too large, more like an office park than a private residence. (1997), The Patriot (1998), The Survivor (1998), Justice (1999), The Watcher (2000), Tart (2001) and Camouflage (2001). More: Modern Miami Home on the Venetian Islands With Lots of Natural Materials. In late 2021 "The One" was place into receivership which allowed an independently-appointed outside developer to come in and spend the estimated $5 million that was still needed to make the home live-able. Since then, hes worked on building and renovating large homes in the Los Angeles area. Most of these films were B movies, helping him start his fortune. Meanwhile, after years of building in fits and starts, cracks had started to show in the partially completed structure, including leaks in the seven water features and stains on the marble floors, the Vertex report said. Bryce is apparently 18 years old, and his younger son Brent is 15 years old. A judge approved the sale a few weeks later. The film was directed by Matt Early Beesley. It seemed to intrigue Mr. Saghian, Mr. Vetterick said, but he wasnt sold. Some of these items ship sooner than the others. In 2001, he directed the action comedy. Nile Niami is a real estate developer and film producer from the United States. Nile Niami. Menu. Besides the real estate project, he has also launched an app Wolfpack, designed especially for single men who are looking for friends. Niami initially thought that no one would buy such expensive spec homes, but he would eventually find monumental success through his luxury spec homes over the years. In Los Angeles, Niami had built 30 mansions. Nile Niami, who is sometimes referred to as the king of the Los Angeles megamansion, at his West Hollywood home. WHAT WE DID: Secured global press opportunities of the property during the construction over 3 years ago until its recent completion when the price was $500 . Nile Niami is a real estate developer based in Southern California. 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. [12] A foreclosure sale scheduled for October 2021 was halted when Crestlloyd filed for Chapter 11 bankruptcy.[13]. However, when construction prices increased, so did the difficulties. Nile Niami Was Born When? All property prices are as stated by the listing agent. But Mr. Saghian outbid him, ultimately paying a total of $126 million for the house. if(typeof ez_ad_units!='undefined'){ez_ad_units.push([[250,250],'biographyhost_com-leader-1','ezslot_10',149,'0','0'])};__ez_fad_position('div-gpt-ad-biographyhost_com-leader-1-0'); They have two sons, Bryce Niami and Brent Niami. Earlier this year, the financial woes of Mr. Niamis signature project reached a climax, ending a saga that had captivated L.A. real-estate observers for a decade. His mother worked nights at the Burbank bar she owned while still teaching special education. There is no additional charge to you! Shares the stories you may have missed from the world of luxury real estate. Producer: The Watcher. After some years, Niami established his own production firm. Nile Niami is married to Yvonne Niami, who is very involved in Philanthropy. Niami borrowed tens of millions of dollars over the years to fund the massive project. All six posts showed up in May 2022, a sign that future social media engagement may be on the horizon for the real estate developer. However, Niami eventually realized that he would not make enough profit from movies as a producer. Nile Niami started his career as a movie producer by producing several films. Sadly, he had to lose his mother in a home assault in 2001. Not feeling like reading today ? And hes a smart guy. He first stepped into the public eye as a film producer, producing over a dozen films over the years. Before he moved to real estate development, he produced roughly 15 movies. Furthermore, even though The One already finds a buyer, they are unable to dwell there at this time. The property has a 50-car garage, four lane bowling alley, cigar room, multiplex-size movie theater, private nightclub (complete with VIP section), five elevators and a 10,000-bottle wine cellar. The sale brings one of the most controversial high-end real estate projects ever to a finish, at least for the time being. Im not that sensitive of a personIve been in this business a long time and I can handle myselfbut I started crying.. Most significantly, McClean helped Niami to design The One.. This couple had been married for almost 18 years before they separated and divorced in 2017. [16] The buyer was Richard Saghian, owner of Fashion Nova. Bryce and Brent Niami are the names of Niles kids. He is well-known as the daring man who constructs mega-mansions for celebrities. Method Man Net Worth: Heres Check All information Regarding His Early Life, Professional Career, Married Life, Awards & Latest Updates! Your email address will not be published. He grew up dirt poor in LA's San Fernando Valley. Nile Niami got his start as a film producer. Later, he became a real estate developer. In "Empress of the Nile," Lynne Olson tells the story of Christiane Desroches-Noblecourt, the archaeologist who broke into a notoriously misogynistic men's club: Egyptology. But Mr. Niami soon found himself facing more competition amid a glut of spec homes. Mr. Niami disputed that characterization through his spokespeople, saying he never received a single offer. We may infer from his works and efforts that he is a creative force. After graduating from high school Nile set out to make it in the world of Hollywood special effects and makeup. Nile Niami is married to Yvonne Niami. He has studied horror movies and effects prosthetics. The main residence, which sits atop a quiet Bel Air cul-de-sac known as Airole Way and is surrounded on three sides by a water-filled moat, has 21 bedrooms and an unfathomable total of 49 bathrooms (42 full baths, the rest powder rooms) spread out over 105,000 square feet of Kathryn Rotondi-designed living space. Niami borrowed most . Opus was then valued at $38 million, far below its original asking price. His first movie Galaxis was an action film released in 1995. Aiding in the . Nile Niami specializes in developing extravagant mansions in the LA area that are worth well over $100 million. In 1998, Niami produced Point Blank, a direct-release film starring Mickey Rourke. As a result, he became well-known within the real estate sector fast. Nile is currently working on his future real estate projects that will significantly increase his net worth. [2], Niami started his career as a film producer. Niami reportedly rejected a $50 million offer for the home from Chinese billionaire William Ding. He mentioned to Nile Niami the growing market for spec houses and apartments valued between $10 & $15 million. The property, which took nearly a decade to build, stands atop a hill in Bel Air with views of the Los Angeles basin. Hankey purposely opted to not place the home into foreclosure because it would have put him on the hook for maintaining the property and covering all liabilities until a buyer was found. He dubbed the 20,500 square-foot spec home "Opus". Nile Niami has a personal net worth of US$ 50 million as of 2022. He spoke of having holograms of entertainers like Whitney Houston, Michael Jackson and Elvis Presley entertain crowds at these events. January 3, 2022. (Theyre extremely close to receiving the certificate of occupancy; the city and the Bel Air homeowners association are still negotiating; its all about money at the end of the day, a source said.). EcTheHub is a part of the Scaleit Fox, 2023 Operated by Scaleit Fox Address : 8900 Greenback Ln, orangevale, California By the onset of the pandemic in 2020, Mr. Niami still hadnt completed The One. Nile Niami is currently living a single life. The mansion was later relisted for $60 million and sold in November 2020 for an unknown cost. 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. [11], In March 2021, Niami's LLC, Crestlloyd, defaulted on US$165 million in debt related to the property, causing it to enter receivership. He declared, Im gonna make an offer.. What do you think Nile Niami net worth? Do you know how much these celebrities earn? Mr. Niami had purchased the site in 2012 for $28 million, according to property records. 1968 (exact age and birthday undisclosed), Producer of Films such as 'The Galaxies,''The Patriot,' and'The Watcher'. Michal Czerwonka for The Wall Street Journal He was selling a lifestyle, Mr. McClean said. P. Diddy, for $39 million. Thank you for supporting my channel. She is responsible for overseeingthe daily flow of content across EC The Hubs digital channels, as well as editing, writing and managing content for EC The Hubs website and blog. If "The One" sells for a significant amount over its debt load, Nile could theoretically make out with millions. Despite this major setback, Nile Niami continues to enjoy the lifestyle afforded by his financial success. In high school, He pursued cosmetology training at night. The case included Jurgen Prochnow and Mark Damascus. He produced the films The Patriot, Point Black, and The Survivor., Camouflage, an action comedy, was his creation. A watershed moment came in 2012 when he flipped a home to the Winklevoss twins (of Facebook fame) for $18 million. The One, which lies on 3.8 acres and has 21 bedrooms and 42 bathrooms, rises like a spaceship from the manicured hills of Bel Air. MUST BE READ:Method Man Net Worth: Heres Check All information Regarding His Early Life, Professional Career, Married Life, Awards & Latest Updates! McClean Design has grown over the years, becoming one of the most prominent contemporary residential design firms in Southern California. Nile Niami is an American millionaire who is both a film producer and a real estate developer. Over the years his flips got more and more expensive. He is very well known as the daring man who builds big mansions for celebrities. 2023 Celebrity Net Worth / All Rights Reserved. Na make an offer.. What do you think nile Niami is married to Yvonne,... Years his flips got more and more expensive Journal he was raised by a single mother was... Producing several films been seen with anybody and hasnt made any public announcements about Relationship! 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