It’s all a rather sudden and surprising end to Niami’s long-running Opus saga. Indeed, it may not have even topped $40 million. Very soon after that, according to the source, the property will return to the market - at a substantial price increase - and continue seeking a new owner, this time on behalf of Englanoff.Īnd while the deal did, according to the source, include several of Niami’s “toys” - including exotic automobiles - the total value of the unconventional exchange came nowhere remotely close to $50 million. Rather, he has already announced plans to give the house a “light” remodel and swap out the existing furniture for newer bespoke pieces. He also was the principal owner of a Bird Streets mansion that sold in 2016 for $32.5 million.Īccording to a source with knowledge of the transaction, the $38.3 million Opus transfer was not a standard sale, and Englanoff does not intend to live in the property. Last year, he sold a sleek new home on Malibu’s exclusive Carbon Beach for $29.1 million to Joe Lacob, majority owner of the Golden State Warriors. mansion developer, though perhaps not quite so well-known as Niami. Joseph Englanoff, who also happens to be one of the several individuals and entities that provided him many millions of dollars for financing the home’s construction.Įnglanoff is also a prolific L.A. As the Wall Street Journal first revealed, the mysterious buyer is a longtime personal friend of Niami’s, Dr. However, the full story is significantly more complex.
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