Bloomberg Law
Jan. 6, 2022, 11:16 PM

‘The One’ Mansion Auction Approved Despite Creditors’ Concerns

James Nani
James Nani
Reporter

Crestlloyd LLC won tentative approval to auction off its Los Angeles megamansion known as “The One,” convincing a bankruptcy judge that enticing prospective buyers without a minimum bid requirement would drive the bidding higher.

The bankrupt real estate development company, whose revised motion for bid procedures was tentatively approved Thursday by Judge Deborah J. Saltzman of the U.S. Bankruptcy Court for the Central District of California, plans to conduct an online auction between Feb. 7 through Feb. 10 to unload its massive 105,000 square-foot Bel Air property.

Crestlloyd was developing the mansion when the company filed Chapter 11 in the ...

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