Film producer and speculative residential developer, Nile Niami, is pouring the concrete for a spec residential compound including a 74,000-square-foot trophy home and three smaller companion homes which he says will hit the market at $500 million. The project will exceed 100,000 square feet, including a 5,000-square-foot master bedroom, four pools, a 30-car garage and a “Monaco-style casino.”
If the property sells for anything close to this amount, it might set a new world record as the world’s most expensive residence sold. The priciest home sale to date was a $221 million London penthouse which changed hands in 2011. Competitive properties include a $425 million estate in France’s Cote d’Azur, a $400 million penthouse in Monaco and a $365 million London residence.