World's most expensive home to hit market at US$500 million

Los Angeles

"LET'S say you're a superwealthy single dude who just sold your company," said Nile Niami. "You've just moved to LA, and you don't know anybody, so you hire someone to fill your house with partyers.

"You want everyone to know who you are, but you don't want to talk to anybody. So you go sit in your VIP room."

Mr Niami was giving a tour, and, unlike most home tours, this one started in the nightclub. It will have multiple bars, its own coat room and LED ceilings playing images of moving clouds. Beyond the floor-to-ceiling glass walls there is a swimming pool, along with panoramic views stretching to downtown and the Century City neighbourhood.

The house is entering its fifth year of development. When it's finished in the spring, it will be one of the largest private homes in America - 100,000 square feet - and, at an asking price of US$500 million, will bi…