The world's most expensive home has since been sold for US$63.1 million, after the mansion's owner had defaulted on millions in loans and debt.
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Image: The One Mansion

America?s most expensive home in Los Angeles, known as ?The One?, has been sold at an auction for US$63.1 million. It was sold to billionaire investor Nicolas Berggruen on Tuesday, 14 September.

According to court documents, the owner of the mansion had defaulted on more than US$100 million in loans and debt, which led to the sale. 

Berggruen beat out five other bidders in a bankruptcy auction for about US$15 million more than its asking price of US$48 million. The mansion is considered to be one of the most historically significant pieces of property in Los Angeles, once belonging to the newspaper mogul, William Randolph Hearst. In 1953, then-future president John F. Kennedy also honeymooned there with his wife, Jacqueline Kennedy.
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According to listing records, the 3.5-acre estate has been on and off the market since 2007, with the price dropping each time. In 2016, its asking price was US$195 million. In 2019, the owner of the property, attorney Leonard Ross put it into Chapter 11 bankruptcy to avoid foreclosure, and it was then listed for US$125 million. It was then taken off the market in March this year.

It went back...