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Mega Mansion Once Floated for $500 Million Put in Bankruptcy (1)

Oct. 27, 2021, 3:33 PM

The developer of one of the biggest homes ever built in the U.S. -- featuring a moat and 30-car garage -- filed for bankruptcy to keep lenders from foreclosing on the Los Angeles property.

Dubbed “The One,” the mansion was being developed by Crestlloyd LLC when a fight broke out with lenders, including Hankey Capital. The lenders went to court in Los Angeles claiming they weren’t being paid, according to court papers. Eventually a receiver was appointed to handle the project.

Read more: Wrecking Ball and $275 Million Price Cut Loom for L.A. Mansions

Crestlloyd “believes that the receiver ...