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(CNN)   There's a cheap house coming on the market. Well, cheaper than it was before   (edition.cnn.com) divider line
    More: Obvious, Debt, March of this year, past year, Money, video tour of the home, complicated real estate deals, Theodore Lanes of Lanes Management Services, Real estate  
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1652 clicks; posted to Business » on 16 Sep 2021 at 6:54 AM (5 weeks ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook



20 Comments     (+0 »)
View Voting Results: Smartest and Funniest
 
2021-09-16 7:01:51 AM  
What's important is that natural habitat was destroyed to build this monstrosity and monument to excess. I'd like to see a personal bankruptcy to whomever built it.
 
2021-09-16 7:15:43 AM  
Normally when artisans were stiffed by the local cathedral they just added some naughty bits to the sculptures and moved on.
 
2021-09-16 7:20:32 AM  
That's a shame. /s
 
2021-09-16 7:21:11 AM  
once worth $500 million

Worth is a slippery word.  What something is worth is entirely subjective.  500 million is what someone hoped they could price it at.
 
2021-09-16 7:25:21 AM  
"Although the property hadn't yet come to market earlier this year, a Google forms application was available for potential buyers to fill out. Beyond contact information, it only asks one question: "Which influencer did you find out from?""

And yet if I were to brutally murder these people, I would be the one to get into trouble.
 
2021-09-16 8:12:24 AM  
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2021-09-16 8:13:21 AM  

Rapmaster2000: once worth $500 million

Worth is a slippery word.  What something is worth is entirely subjective.  500 million is what someone hoped they could price it at.


Normally such a big project would be built on a contract from an individual. So instead of building ten $1M homes at a cost of $7 million that year, he wanted to leverage $100 million to make $400 million.  Except there really aren't that many people in the market for what is really a high end shopping mall to live in.  Hopefully the moron investors lose most of their money and the contractors got paid.
 
2021-09-16 9:19:36 AM  

Northern: Rapmaster2000: once worth $500 million

Worth is a slippery word.  What something is worth is entirely subjective.  500 million is what someone hoped they could price it at.

Normally such a big project would be built on a contract from an individual. So instead of building ten $1M homes at a cost of $7 million that year, he wanted to leverage $100 million to make $400 million.  Except there really aren't that many people in the market for what is really a high end shopping mall to live in.  Hopefully the moron investors lose most of their money and the contractors got paid.


Yeah, this is a repeat from like a week ago.  If they only leant him 100 million... the plot of land is probably worth a sizeable chunk of that.

Also, it's stupid to build a $100,000,000 dollar house without a contract.  People that spend that kind of money on a mansion generally want to be in control of it's construction.
 
2021-09-16 9:28:19 AM  
Turn the entire place into low income housing. How many people could you fit into that place? Fit it with solar panels to supplement the utility cost. Watch people lose their shiat over it
 
2021-09-16 9:29:39 AM  
I fail to understand California's hard on for commercial kitchens in homes. Especially here, where you could easily make it to code. We put in a commercial kitchen at my old job and it was connected to a residence and everything. The grease trap was the only really big PITA involved, but we ended up having to take up the slab anyway, so no big deal. Here, everything would be new.
 
2021-09-16 9:44:51 AM  
Hankey panky.
 
2021-09-16 9:50:34 AM  
For years, after we became empty nesters, I've had my eye on a 1200 sq ft bungalow. Great location. Bedrooms on the 1st floor. Dry basement. (There are groundwater problems around here.) As if to mock me, it was on the market awhile back. For a week. I can't imagine shifting around in a house you could get lost in. Every night I'd see Morley's ghost and his chains and I'd need propofol to sleep.
 
2021-09-16 9:58:58 AM  

drewogatory: I fail to understand California's hard on for commercial kitchens in homes. Especially here, where you could easily make it to code. We put in a commercial kitchen at my old job and it was connected to a residence and everything. The grease trap was the only really big PITA involved, but we ended up having to take up the slab anyway, so no big deal. Here, everything would be new.


My best guess is that the issue here is that there isn't a client yet, only a builder.  Just thinking about the permitting issues you would face building a restaurant before even having an intended owner?

Also, I think the builder isn't that competent... who spends even a 100 million on something like this?  It's huge, it's ugly and you might as well just live in a hotel penthouse.
 
2021-09-16 10:02:24 AM  

yakmans_dad: For years, after we became empty nesters, I've had my eye on a 1200 sq ft bungalow. Great location. Bedrooms on the 1st floor. Dry basement. (There are groundwater problems around here.) As if to mock me, it was on the market awhile back. For a week. I can't imagine shifting around in a house you could get lost in. Every night I'd see Morley's ghost and his chains and I'd need propofol to sleep.


The only point to buying a mega mansion is to entertain dozens of guests at a time frequently... basically, it's no longer your house.
 
2021-09-16 4:03:05 PM  
Once "worth" $500 million, you mean.

It's not "worth" anything until someone is ready to pay for it. Which, apparently, they're not. So far.

When there's a completed sale, we'll know what it's "worth."
 
2021-09-16 4:42:19 PM  

Smelly Pirate Hooker: Once "worth" $500 million, you mean.

It's not "worth" anything until someone is ready to pay for it. Which, apparently, they're not. So far.

When there's a completed sale, we'll know what it's "worth."


I own 2 cats each worth half a billion dollars.
 
2021-09-16 8:16:34 PM  

yakmans_dad: Smelly Pirate Hooker: Once "worth" $500 million, you mean.

It's not "worth" anything until someone is ready to pay for it. Which, apparently, they're not. So far.

When there's a completed sale, we'll know what it's "worth."

I own 2 cats each worth half a billion dollars.



Be honest, they own you.
 
2021-09-16 9:23:53 PM  

retrobruce: yakmans_dad: Smelly Pirate Hooker: Once "worth" $500 million, you mean.

It's not "worth" anything until someone is ready to pay for it. Which, apparently, they're not. So far.

When there's a completed sale, we'll know what it's "worth."

I own 2 cats each worth half a billion dollars.


Be honest, they own you.


They've got their claws into me.
 
2021-09-17 12:19:05 AM  
944 Airole Way, Bel Air, CA for the curious
 
2021-09-17 11:00:14 AM  
It's big and soulless and the tour is just cringeworthy.

THE BIGGEST AND MOST EXPENSIVE HOUSE IN THE WORLD - 'THE ONE' - EXCLUSIVE HOUSE TOUR (PART 1)
Youtube _H2xmRseiDw
 
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