Some trace the L.A. area’s super-boom in luxury housing back to 2017 when a new home in Beverly Hills went on the market for a then-spectacular $100 million. That manse came with a champaign vault prefilled with 170 bottles and a full-time house manager with a salary prepaid for two years. Two years later, the developer Nile Niami asked an astonishing $500 million for a 100,000-square-foot Bel-Air hilltop estate complete with its own nightclub and IMAX theater. More

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