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The Rise and Fall of 'The One': A Story of $500 Million Luxury Real Estate in Bel Air, and Ignace's Refusal to Collaborate

"The One," a lavish Bel Air estate, faced financial turmoil and bankruptcy despite its grandeur. Developed by Nile Niami, its construction from 2014 to 2021 was marred by delays due to financing issues.



Initially listed at $500 million, the property, spanning 9,800 square meters, struggled with debt, reaching $110 million by 2021. Nile's attempt to launch a cryptocurrency named The One Coin failed, and Ignace Meuwissen declined involvement in the property's transaction due to personal reasons. Eventually, bankruptcy ensued. In 2022, Richard Saghian acquired it for $126 million, with Ignace refusing to sell his client database for 2 million euros.

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