(Bloomberg) -- The bankruptcy auction for one of the largest mansions in the United States was pushed back three weeks to allow more time to attract potential purchasers of the home, which has a $295 million asking price. 

U.S. Bankruptcy Judge Deborah J. Saltzman granted an extension of the auction for the Los Angeles home known as “The One” last week after a number of would-be buyers needed more time to visit the property, according to court papers filed Friday and attorney David Golubchik of Neale, Bender, Yoo & Golubchik, who is representing the property’s developer. 

The online bankruptcy auction is now scheduled for Feb. 28 to March 3, and the transaction’s closing, which is subject to court approval, is set for March 21. 

The no-reserve auction of “The One” was originally slated to occur the second week of February with a final closing date of Feb. 28. Creditors Yogi Securities Holdings and Inferno Investment Inc. filed objections to the plans earlier this month.

Yogi, which is led by Los Angeles-based doctor and investor Joseph Englanoff, said the original timeframe was too short to gin up buyers’ interest and get the highest price. Inferno, led by Julien Rémillard, made similar complaints, and noted that a planned 12% service fee charged by the auctioneer could “chill bidding.” 

Concierge Auctions is running the process, and the property is also being marketed worldwide with an asking price of $295 million. The global marketing blitz includes listing the property online in the U.S. and China. One broker is traveling to Hong Kong and London in search of buyers, according to court papers.

The property, developed by Nile Niami through Crestlloyd LLC, filed for Chapter 11 bankruptcy in October to stave off foreclosure. Niami attempted to halt the auction last month and proposed creating a cryptocurrency, “The One Coin,” backed by the home. Niami’s attorney didn’t immediately respond to a request for comment on the crypto plans. 

Though mansion’s $295 million asking price would set national records if achieved, the developer had been aiming higher. In a court filing, Crestlloyd pegged the market value of “The One” at $325 million, and the property was once listed for as high as $500 million. 

The 105,000 square-foot, 20-bedroom home is outfitted with a bevy of amenities including a 30-car garage, a nightclub, two restaurant-grade kitchens, four swimming pools and a two-story waterfall. The four-acre property is also surrounded by a moat to give the illusion of floating on water. 

The case is Crestlloyd LLC, 21-bk-18205, U.S. Bankruptcy Court, Central District of California (Los Angeles).

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