America's most expensive home sells for $126m
The Bel Air mansion known as 'The One' sold for only $126 million at a bankruptcy auction on Thursday.
An unidentified buyer purchased the home for less than half of the $295 million asking price,
which was already cut down from its original price tag of $500 million.
Features include five swimming pools, an in-house movie theater and bowling alley, 4,000 square-foot guest house, a beauty salon, and 49 bathrooms.
The group that managed the auction said only five bidders from the US and New Zealand made offers.
Niami, 53, a Hollywood producer-turned-developer
He spent about a decade on the home's construction before his company filed for bankruptcy and defaulted on a $106 million loan.
Niami could not immediately be reached for comment. A spokesperson said he would not be commenting on the auction.