July 1, 2025 Your Source for Brentwood News

Bel Air Mega-Mansion The One Focus of Legal Battle

The One pulled from Los Angeles Superior Court  foreclosure sale

By Dolores Quintana

An infamous mega mansion in Bel Air continues to be at the center of a lengthy legal battle. 

As reported by the LA Times, Nile Niami’s development company Crestlloyd’s 105,000 square foot mega-mansion in Bel Air, dubbed The One was pulled from a Los Angeles Superior Court’s foreclosure sale in Pomona just as it was set to be auctioned off to the highest bidder. Niami is formerly a film producer who went into real estate after a run of films in the 1990’s. The One is possibly the largest contemporary home in history, but the is not completed and does not have a certificate of occupancy from Los Angeles County. 

The foreclosure auction was set after Crestlloyd failed to pay $106 million in debt to Hankey Capital, the real estate lender Don Hankey’s company, in the spring. This is not the first time that creditors have attempted to sell the property off. It was the third attempt that was delayed by one or more of the involved parties. Hankey put off the sale that was scheduled in July after deciding that the property should be completed and sold by a third party receiver company. This was a choice that was supported by Niami and the other creditors. When Hankey reversed course and pushed the sale ahead, one of the other creditors, Joseph Englanoff’s Yogi Securities Holdings, filed for a temporary restraining order which was not granted. Englanoff is a doctor and a frequent investor in Niami’s deals and believed that Hankey was attempting to take ownership of the property at auction or take all the money generated from the sale. This action delayed the sale to October 27. The delay was an attempt to allow the different creditors time to come to an agreement by Superior Court Judge Mitchell Beckloff. 

The mega-mansion, which was formerly estimated to be worth upwards of $500 million, was estimated to be worth $325 million by Crestlloyd in their bankruptcy documents along with $180 million dollars in debt with $176 million of that total as secured debt according to the LA Times. Bankruptcy Judge Deborah Saltzman will take the case and, for now, that will keep the property from being auctioned off. 

The disputed property, located at 944 Airole Way in Bel Air, is more than just a regular home, according to to the LA Times it “features ultra-luxury amenities such as multiple pools; a spa; a beauty salon with washing, cutting and pedicure stations; cigar and candy rooms; a four-lane bowling alley; a rooftop putting green; and a multiplex-size movie theater.”

SierraConstellation Partners’ Jim Peters has been appointed manager of Crestlloyd according to the LA Times and is quoted by the Times as having said, “the focus will be on completing the home, marketing it and ensuring it is seen by prospective high-level buyers — including one who ultimately purchases it. This isn’t just a regular home to sell, so there’s certain steps you need to take to be able to deal with a home like this. It starts with money, and working out a deal to be able to execute that is probably the top priority right now.” As of now, the foreclosure sale has been postponed to Nov. 29.

The question in this bankruptcy case and struggle for control of the property is based on whether or not the home still has enough value to pay back the creditors like Hankey Capital. The LA Times quotes John Tedford, an attorney at Danning Gill,  “If the property is worth less than Hankey Capital is owed, the judge is more likely to allow Hankey to proceed with its foreclosure,” he said. “It becomes a battle of experts — Crestlloyd’s appraiser versus Hankey Capital’s appraiser — with the judge somehow having to decide how much this unique property is worth.”

Related Posts

(Video) Culver City Residents and City and County Leaders Rally for Disappeared Ice Cream Man Ambrocio “Enrique” Lozano

June 29, 2025

June 29, 2025

US Representative for California’s 37th Congressional District, Sydney Kamlager-Dove Speaks About What is happening to the disappeared.

City Issues Determination That Could Clear Way for Barry Building Demolition

June 29, 2025

June 29, 2025

Preservation Deemed Infeasible Due to Economic and Social Factors The historic Barry Building on San Vicente Boulevard may soon face...

Historic Sawtelle Nursery Site Could Become 40-Unit Townhome Complex

June 29, 2025

June 29, 2025

Sawtelle Continues to Change as Nursery Site Faces Redevelopment Plans have been submitted to redevelop a nursery site, F.K. Nursery,...

Drake Slashes Price on Beverly Hills Estate to $79 Million Amid Market Slowdown

June 29, 2025

June 29, 2025

Price Cut Adds to a Broader Retreat From His Los Angeles Real Estate Holdings. Musician Drake has reduced the price...

Iranian Pastor in West L.A. Speaks as Church Rocked by Immigration Raids 

June 28, 2025

June 28, 2025

Five Detained as Fear Spreads Through Persian Christian Faith Community  Fear has spread through a West Los Angeles congregation after...

TV Writer Jon Cowan Brings Legal Thriller Proof to Diesel A Bookstore in Brentwood

June 28, 2025

June 28, 2025

The Suits Producer and First-Time Novelist Will Discuss His Debut Courtroom Drama Television writer and producer Jon Cowan will appear...

Cinespia Brings Fireworks and Fan Favorites to Hollywood Forever This July

June 27, 2025

June 27, 2025

Watch Top Gun, La La Land, and More Under the Stars at Hollywood Forever Cinespia, Los Angeles’ iconic outdoor movie...

California Doubles Down on Hollywood: $750M in Tax Credits Approved for Film and TV Industry

June 27, 2025

June 27, 2025

State Lawmakers Back Major Expansion of Production Incentives, Raising Job Projections Los Angeles’ film and television industry is poised to...

Brentwood Gardener Brutally Attacked by Squatter; Neighbors Demand Action

June 27, 2025

June 27, 2025

Rodolfo Roman Was Hospitalized After Being Beaten With a Metal Pole Tensions are rising in a Brentwood neighborhood after a...

EEEEEATSCON Los Angeles Returns with Star Chefs, Firefighter Tribute, and Wildfire Relief Efforts

June 27, 2025

June 27, 2025

Culinary Festival Features Exclusive Restaurant Collabs, Support for Small Businesses  EEEEEATSCON Los Angeles, the celebrated food festival curated by The...

Supporters to Gather This Weekend for Longtime Culver City Paleta Seller Held in Detention

June 27, 2025

June 27, 2025

Family and Neighbors Will Gather Sunday to Sell Paletas and Raise Funds Supporters will gather this Sunday at Veterans Park...

Suspect Charged by Los Angeles DA with Shooting of Santa Monica Cop and Teens

June 27, 2025

June 27, 2025

Faces Attempted Murder Charges and Over 100 Years to Life in Prison if Convicted. Criminal charges have been filed against...

Captain America Hits the Skirball Big Screen for Heroic Outdoor Movie Night

June 27, 2025

June 27, 2025

Museum-Goers Can Also Catch a Superhero-Themed Drawing Session The Skirball Cultural Center will host an outdoor screening of Captain America:...

Demolition Underway at Beverly Grove Squatter Site After Mystery Fire Renews Safety Fears

June 27, 2025

June 27, 2025

Crews Begin Tearing Down Long-Vacant Apartments on First and Flores  Demolition has begun at a group of long-abandoned apartment buildings...

(Video) Welcome to the Urban Jungle — where nature meets the city and style meets soul

June 26, 2025

June 26, 2025

Whether you’re chasing that gritty city energy or carving out a green oasis in your space, we’re here to help...