Court documents show that the debt had reached around $110m. Mr Niami was afforded 90 days to pay or renegotiate the debt. In March 2021, a notice of default was sent, prompting The One to go into a foreclosure sale. In 2018, he reportedly borrowed $82.5m from Hankey Capital to finish the residence. The One has now gone into foreclosure after project developer Nile Niami defaulted on more than $100m of debt and loans to finance the build.
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