October 7, 2022

Music Arts

Spearheading Arts Excellence

House built in middle of Mojave desert listed for sale for whopping Rs 12.8 crore

3 min read

An oddly placed isolated house located on five-acre uninhabited land in the Mojave Desert, California, has gone up for sale for $1.75million (Rs 12.8 crore). The solitary house was constructed in the middle of a desert in Joshua Tree, draped in the solitude of barren land surrounded by large boulders and natural grassland vegetation. It is located away from the township, bustling city crowd, and traffic.  Marked by the cacti vegetation, the house was build in a no-man’s-land to give a picturesque impression to the inhabitants that it was installed from the urban setting onto the undeveloped and deserted rural land. Describing it as “one of a kind special place,” a couple who previously occupied the property wrote in a ‘sales’ post: “We planned to keep it, use it and rent it. It’s now available for sell. This location is one of a kind and this is a special opportunity.” 

According to the occupants, the “highly unique home” on sale for millions of dollars sits within the boulders offering the “ultimate park-like experience with your own privacy.” It spans across 5 acres that “feels like 100+ as it backs up to protected boulder-laden land, all within 10 minutes of the village,” the sellers said. The expensive home constructed by KUD Development and designed by URBARC architects flaunts an RSG3D building system been built out of foam and concrete. “Every detail is dialed on this property, siting, views, privacy, and location, oh and boulders,” explained the sellers. According to the post, the house on sale for millions of dollars consists of unique features such as electric window blinds, Fleetwood sliders, rift-cut Oak doors, cabinetry, custom LED lighting, a built-in library, and reading nook, and so much more. 

‘The One’ goes on sale after debt defaulting 

A 100,000-square-foot mega-mansion in Bel-Air in Los Angeles, California, dubbed as ‘The One’, which was constructed for a giant $500 million project on debt, went on sale after defaulting on the mortgage. Known as ‘the most expensive house in the urban world,’ the spec developer Nile Niami’s designed the dream abode in California supposedly to fetch humongous money as one of the most ambitious real estate projects. However, unfortunately, the debt mounted to more than $110 million over the last three years, according to multiple reports. Niami, known for his lively personality and successful projects, had borrowed $82.5 million from Hankey Capital in 2018, which the investor now demanded back. 

As the lender served Niami a notice of default on the expensive property, the house was placed into receivership by the Los Angeles County Superior Court. As it went on sale, it was relisted at a lower price, Los Angeles Times reported. It is being reported that developer Niami and his related LLC, Crestlloyd borrowed more than $165 million to rebuild, refurbish, and sell “The One.” “Yogi Securities Holdings, led by doctor-turned-real-estate-investor Joseph Englanoff, has loaned ‘The One’ over $36 million. Two other entities, Inferno Realty and Maybach Corporation Holdings have provided loans of $7 million each,” CNBC America listed, adding that the house was under the burden of $1 million in unpaid taxes and debts from concrete, air conditioning, and tool companies. In March, Los Angeles County Superior Court named Ted Lanes of Lanes Management as the receiver, implying that a lender or bank would seize the property.

Image: Instagram/ kudproperties

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