Auction: the most expensive house in the U.S. - a mansion in Los Angeles

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Published on February 8, 2022 at 12:54 pm. Eastern time. The 295-million-dollar "The One" mansion in Bel-Air features 21 bedrooms, 42 bathrooms, a 30-car garage and five pools. FOX Business' Kelly O'Grady provides an inside look at this luxury property in Los Angeles.

Living in Los Angeles

is known for the rich and famous, but one hilltop real estate property in Bel-Air showcases luxury on a whole new level. The $295 million mansion is nicknamed "The One" and was built by former movie producer Niall Niami as the largest and most expensive private residence in the country. This 105,000-square-foot empire is expected to go up for auction in late February.

The 21-bedroom, 42-bathroom house

Equipped with a 30-car garage, a 10,000-bottle wine cellar, five swimming pools and a 10,000-square-foot rooftop deck - impeccably guarded by a moat surrounding the palace-style estate.

Auction

takes place during the upswing in the U.S.

luxury real estate market, after at least 40 residential properties sold for sums in excess of $50 million, according to estimates by Miller Samuel Realtors. However, Aaron Kirman, founder of Luxury Real Estate, said in an interview with FOX Business' Kelly O'Grady on "Varney & Co." that the recent exodus from California and other blue states due to high taxes and crime is not a problem for the world's wealthiest people.

"The person who buys this house is not going to worry about that," he said. "It's not their reality. Whoever buys this house is going to have a huge staff, huge maintenance costs, and that's just part of the game. "

Although the buyers of this house

will have to pay $3.7 million in property taxes, California real estate agents reported an influx of buyers still interested in the ultra-expensive property.