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.

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