The trustee’s sale was postponed until Nov.... 29. The goal is to get the highest sale price for the house while maximizing the proceeds to the creditors, which include not only Hankey but also other secured construction lenders who are owed tens of millions of dollars, as well as unsecured creditors such as vendors and contractors.... The plan had the support of Niami, as well as other lenders who committed millions to the project. Just this month, the court approved a deal with two brokers t

BusinessThe fight over ‘The One’ — L.A.’s biggest and most extravagant mansion The idea was simple: Nile Niami would build and sell The One, the biggest and most extravagant new home in the country.... Englanloff says his debt should be paid prior to Hankey’s later loans. Los Angeles County Superior Court Judge Mitchell Beckloff did not issue the temporary restraining order but delayed the auction until Oct.... 27 to give the two sides time to work out a deal....

But like most everything else associated with the 105, 000-square-foot Bel-Air estate — still unfinished after nearly a decade of construction — things went slower than anticipated.... BusinessSo who bought L.A.’s ‘The One’ mega-mansion?... There’s been a lot of facts discussed....

Nile Niami needs someone to walk into the stratosphere with him. That’s the developer’s latest plea in a video released Monday night as he tries to halt the looming auction of “ The One, ” the 105, 000-square-foot mega-mansion that he spent the last decade creating.On Dec.... His latest idea is even more out-of-the-box. Sporting a tie-dye T-shirt and sunglasses overlooking a tropical beach in the video, Niami said he wants to create a cryptocurrency called “ The One Coin ” that would be backed

BusinessThe fight over ‘The One’ — L.A.’s biggest and most extravagant mansion The idea was simple: Nile Niami would build and sell The One, the biggest and most extravagant new home in the country.... Auctioned homes, however, often go for discounts and the heyday for marble-and-glass designs so popular last decade is waning.... About three dozen prospective buyers have toured the property.“ I was actually surprised by how many billionaires have shown interest in the property....

As a lifelong Angeleno and avid collector of real estate, I recognized this as a rare opportunity that also lets me own a unique property that is destined to be a part of Los Angeles history, ” Saghian said Sunday in an emailed statement.... The privately held company is owned outright by Saghian and its annual sales now top$ 1 billion, according to a source close to the company.... He also owns a home in the so-called Bird Streets of the Hollywood Hills that he bought for$ 17.5 million in 201