Nile Niami Net Worth

Written by Tanja - Reviewed by Ivana Celebrities

5 min read
Net Worth $ 50,000,000
Real name Nile Niami
Source of Wealth Real Estate Developer & Film Producer
Profession Real Estate Developer
Spouse/Partner /
Date of Birth Feb 25, 1968
Zodiac Pisces
Age 54
Gender Male
Pronoun He/Him
Height 172 cm / 5 ft 7 inch
Nationality American-Indian
Siblings /

Nile Niami’s net worth is estimated at $50 million as of 2022 💵

Biography and early life

Often referred to as the ‘King of the Los Angeles mega mansions,’ Nile Niami was born in Los Angeles, California, in a low-income family. His father is still unknown to the public, and resources claim that he was raised by a single parent, his mother, who was a special education teacher.

There is no record of where Nile went to school or whether he has siblings.

Career as a film producer

Before doing a lucrative business in the real estate world, Nile[1]started a career in the film industry as a film producer. Initially, he produced 15 B-list movies, and his first one was Galaxies, released in 1995.

Some of Nile’s other movies are:

  • Terminal Force - 1995
  • DNA - 1996
  • T.N.T. - 1997
  • Point Blank - 1998
  • The Patriot - 1998
  • The Survivor - 1998
  • Resurrection - 1999
  • The Watcher - 2000
  • Camouflage - 2001
  • Tart - 2001

Career as a real estate developer

After producing the movies mentioned above, Nile realized that there was not a lot of profit in making movies. He turned to real estate and began building small condominiums and renovating homes to sell. At first, he flipped cheap homes in LA’s suburban areas and later started doing bigger condos and complexes.

His first big gig was building a mansion in Holmby Hills, which was sold for $44 million to a Saudi buyer. In the Holmby Hills area, he also built another house that musician Sean Combs, aka P.Diddy, bought in 2014 for $39 million.

Things turned well with the real estate business, and Nile kept building other fancy houses. His other projects include a house for the Winklevoss twins Cameron and Tyler, which sold for $18 million.

In 2017, he also sold a Beverly Hills mansion to Floyd Mayweather[2]for $26 million.

In addition, he built a house in Trousdale Estate, a neighborhood in Beverly Hills.

In 2021, after eight years of building and developing the perfect deluxe home, Nile and architect and designer Paul McClean completed the project “The One.” The built mansion was unseen before in the world of luxurious living and was billed as the most expensive private home in America.

https://www.instagram.com/p/CDOL8FkpIC0/?hl=en

“The One” is a lavish 105,000-square-foot (9,300 m2) on Bel Air, and it is believed that it is set down for around $500 million.

https://www.instagram.com/p/B_7lpTujGWi/?hl=en


It is considered one of America’s largest private homes ever, with 21 bedrooms, 14 kitchens, a nightclub, beauty salons, an art gallery, a gym, a theater, a garage with the capacity of more than 50 cars, etc.

https://www.youtube.com/watch?v=SboPC9btIWM


The mansion was something unseen before in the world of luxury.

To build it, in 2018, Nile borrowed $82 million from Hanky capital bank, a debt which later increased to more than $110 million.

The aftermath of “The One” project

After completing the project 'The One,' it was reported that Niami’s company defaulted $165 million in debt, which was all due to the property itself. Sadly, after that, Nile’s company, Crestlloyd, filed for bankruptcy, and the 3.8-acre property was placed in receivership by the L. A County Superior Court.

After that, it was Ted Lanes of Lanes Management. He was appointed as the receiver, and after the project was estimated at a $500 million value, it was listed for sale in January 2022.

The price which was asked for was $295 million, but it still needs to receive an offer at that price. A few months later, 'The One' got sold at an auction for almost half the price of its initial offer and was sold for $144 million. [3]

The buyer[4]was the owner of the American fast-fashion brand Fashion Nova[5] , Richard Saghian.

Most famous for

Nile Niami is most famous for being a movie producer and real estate developer; more precisely, he is best known for developing one of the most expensive private mansions in America, named the “The One.”

https://www.instagram.com/p/B_7MUY6DvvP/?hl=en

Personal life

Nile was married to Yvonne Niami, and he has two sons with her.

There is no record of whether Nile is dating anyone special in 2022.

Conclusion

Famous real estate developer and film producer Nile Niami is estimated at around $50 million net worth in the aftermath of “The One.”

Resources claim that it is hard to pin down the right amount of wealth he possesses because a big portion of his assets are tied up to the money he invested in the luxurious mansion “The One,” which is allegedly subject to numerous lawsuits.

FAQs

Why is Nile Niami in debt?

Nile Niami is in debt because of the luxurious mansion he built, known as “The One.” Even though it was initially valued at $500 million, the property was subject to many lawsuits and over $165 million worth of loans which automatically made the Nile fall into debt.

References

  1. Reynolds, E. (2022, April 14). Fashion nova CEO Richard Saghian Buys 'the one' megamansion for $141 million. Forbes. Retrieved December 13, 2022, from https://www.forbes.com/sites/emmareynolds/2022/03/09/fashion-nova-ceo-richard-saghian-buys-the-one-megamansion-for-141-million/?sh=52fb593d74a2 

  2. Nile niami (2022) Wikipedia. Wikimedia Foundation. Available at: https://en.wikipedia.org/wiki/Nile_Niami  Accessed: December 12, 2022

  3. Floyd Mayweather Jr.. (2022) Wikipedia. Wikimedia Foundation. Available at: https://en.wikipedia.org/wiki/Floyd_Mayweather_JrAccessed:December 12, 2022

  4. So who bought L.A.'s 'the One' mega-mansion? the owner of Fashion Nova (2022) Los Angeles Times. Los Angeles Times. Available at: https://www.latimes.com/business/story/2022-03-06/the-one-fashion-nova-richard-saghian-auction

  5. Wikimedia Foundation. (2022, September 30). Fashion nova. Wikipedia. Retrieved December 12, 2022, from https://en.wikipedia.org/wiki/Fashion_Nova