Nile Niami Net Worth 2022 – Unbelievable How Rich Nile Niami Is!
Nile Niami is an American film producer and real estate developer. He started out as a film producer and then moved into the world of real estate development. Today he is best known for building extremely lavish mansions in Los Angeles that can cost $100 million and up.
After a few years he founded his own production company. He produced the films Terminal Force (1995), DNA (1996), TNT (1997), Point Blank, The Patriot (1998), The Survivor (1998), Resurrection (1999), The Watcher (2000), and Camouflage and Tart (both 2001).
As his producing career soared, Nile began investing in real estate by selling cheap homes in the Los Angeles suburbs. He also developed condominium developments.
In interviews, Nile explained that he took the leap from condominium development to upscale home development after the 2008 real estate crash that blew him off the map. He felt that upscale homes are less prone to financial collapse and less dependent on bank approvals, and therefore less risky for a developer.
Over the years, his sales have become more and more expensive. The turning point came in 2012 when he sold a home to the Winklevoss twins (Facebook fame) for $18 million. Over the next five years, Nile experienced tremendous success as the LA luxury real estate market soared.
In 2014 he sold a custom built villa in Holmby Hills to P. Diddy for $39 million.
Two years later, he sold a Beverly Hills mansion for $38.3 million.
In 2017, he sold a home to Floyd Mayweather for $26 million.
On the personal home front, Nile Niami spent $9.5 million to buy Scooter Braun’s home in 2015. Two years later, he attempted to sell that home for $19.9 million. He eventually sold it in December 2020 for $9.58 million. Technically it was a loss after the cost of renovations and improvements.
In 2017, Nile completed work on a Beverly Hills home that he was soon listing for $100 million. He named the 20,500-square-foot home “Opus.” The home stands on an acre and features 7 bedrooms, 11 bathrooms and a champagne vaulted ceiling. The sale price includes a gold Lamborghini, a gold Rolls-Royce Dawn, and a full-time caretaker whose salary would cover two years. About $2 million worth of artwork and other accessories are also included in the price. Niami reportedly turned down a $50 million offer for the home from Chinese billionaire William Ding. In April 2020, Opus’ lender allegedly defaulted on the property, forcing Niami to hand over the property.
Nile Niami is probably best known for building a 105,000-square-foot home in Bel Air that he dubbed “The One,” which he offered for $500 million. The mansion became the most expensive private residence in the United States and one of the most expensive homes in the world.
The property features a 50-car garage, four-lane bowling alley, cigar room, multiplex-size movie theater, private nightclub (with VIP area), five elevators, and a 10,000-bottle wine cellar. The main house has nine bedrooms. There is also a 4,000 square meter guest house. There are several pools and even a moat. There are several kitchens.
Unfortunately, Nile was unable to complete construction of “The One” despite borrowing $165 million from various lenders, most notably auto finance billionaire Don Hankey, who contributed at least $106 million in multiple rounds of financing. In late 2021, The One was placed under receivership, allowing an independent contractor to raise the estimated $5 million needed to make the home livable. Technically to get the certificate for occupancy. Hankey consciously decided against foreclosure of the house, as otherwise he would have had to pay for the maintenance of the house and the assumption of all liabilities until a buyer was found.
Outside of real estate, he launched an app called Wolfpack to help single men find friends.