Peak Inequality: $500 Million Asking Price For LA Mansion

Just when you thought you had seen it all, Nile Niami pulls another mansion out of his hat. The film producer and speculative real estate developer announced the asking price for the mansion he is building on a hill in Bel Air, the location where the memorable Fresh Prince of Bel Air TV show takes place. Unfortunately, Will Smith is not fresh enough for this place. You have to be a literal prince to afford it.
The mansion is not even finished yet, but it will be over 100,000 square feet. The main residence is 74,000 square feet, but several other homes will be included. At 5,000 square feet, the master bedroom is larger than most people’s houses. The property also features a 30-car garage and a Monaco-style casino.
In 2014, five properties sold for more than $100 million. The most expensive home ever sold was a $221 million London penthouse in 2011. Currently, the most expensive property on the market is a $425 million estate in France. With that in context, it’s clear that Niami is looking to shatter records.

This post was published at Zero Hedge on 05/27/2015.