When he’s not popping up in controversially-received YouTube videos, Los Angeles mega-mansion developer Nile Niami is actually managing to unload one or two of his residential white elephants. Nearly three years after it first popped up for sale, a Niami-designed mansion in prime Bel Air has sold for exactly $36 million — significantly under the original $65 million list but still well over what many naysayers expected the property to fetch.
The new owner is Tri Nguyen, the Vietnamese co-owner/CEO of Network Capital, a rapidly-growing mortgage lender based in Miami and Irvine, Calif. Established in 2002, the company specializes in refinancing home loans, touting its “new and extensive cloud technology integration” as an aid to rapidly close deals. Last year, Network Capital announced their plan to open 65,000 square feet of new sales floor space, allowing them to recruit another 600 employees and achieve exponential growth in company revenue, as per Nguyen himself.
In any case, Nguyen has clearly taken his company motto of “Live better” to personal heart. The palatial property rests on a prestigious street in lower Bel Air, behind towering gates on a knoll above the Bel Air Country Club’s sixth hole. Described in the listing as a “contemporary French manor,” the blindingly white structure includes 8 bedrooms and 12 full bathrooms in 24,000 square feet of living space.
Extravagances are, as one might expect, plentiful. They include a grand ballroom, a cinema-style movie theater, a black marble wet bar, separate staff quarters and a guesthouse. The one-acre estate offers parking for 30+ cars, plus a so-called “auto gallery.”