Move over $250 million Bel Air mansion. A new most expensive house in America is about to hit the market — for double the asking price.
A massive mansion, known as “The One” and located in the same exclusive Los Angeles neighborhood, is expected to be listed with real estate firm Hilton & Hyland in mid-2018 for a jaw-dropping $500 million, according to the New York Times.
When complete, the 100,000-square-foot estate will feature 20 bedrooms (including a 5,500-square-foot master suite), five elevators and seven pools, all perched on a hilltop with expansive views across the city.
When the five-year construction wraps up this spring, the house will officially be one of the largest private homes in the country.
It has seemingly endless over-the-top features: a private nightclub with a pool and VIP room, an in-house, full-scale beauty salon, and a lounge whose walls and ceilings are jellyfish aquariums, to name a few.
WATCH THIS: Tour the Second Most Expensive Home in America, on the Market for $250 Million
So who can buy a $500 million house?
“Let’s say you’re a super-wealthy single dude who just sold your company,” developer Nile Niami tells the Times. “You’ve just moved to L.A. and you don’t know anybody, so you hire someone to fill your house with partyers. You want everyone to know who you are, but you don’t want to talk to anybody. So you go sit in your V.I.P. room.”
And why would anyone dump that much cash into this house?
“Because it’s cool,” says Niami.
The Times points out that the house will likely sell for much less than its attention-grabbing asking price, citing that the Playboy mansion sold in 2016 for $100 million, after being listed for $200 million.
The most expensive house ever sold in the U.S. was a $137 million property in the Hamptons. The world record goes to a $300 million French chateau, purchased by a Saudi prince in 2015.
The former “most expensive house in America” is still on the market.
See photos of the not-yet-complete property and models of what it will look like when done on nytimes.com.