London’s Hyde Park has some of the most expensive real estate in the world. The new One Hyde Park development is leading the way with 86 units starting at around 32 million dollars and going up to the 220 million dollars sale of the six bedroom penthouse recently.
With the influx of money from Russia and the Middle East, London has become the premier destination for high end real estate. Demand for the best real estate has driven up prices as for the “money is no object” set demands the best mainly for bragging rights.
A six-bedroom penthouse at London’s posh One Hyde Park development has just sold for a record-breaking £140 million, or about $220 million, making it the most expensive piece of residential real estate in the world (in terms of current listings and sales). The massive deal eclipses the paltry $150 million asking price for The Manor, Candy Spelling’s monstrous mansion in Holmby Hills, California, previous holder of the World’s Most Expensive title. While the identity of the buyer remains a closely-guarded secret, speculation is centering on oligarchs and oil sheikhs, the London Telegraph reports. The palatial penthouse stretches across two floors and boasts bullet-proof windows, a panic room and stunning views across the Serpentine lake in Hyde Park. via Luxist
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{ 6 comments… read them below or add one }
A panic room and bullet proof windows…wow. Well I guess if everyone knows you paid $220 million then that makes you a pretty good target for a robbery or kidnapping.
I'm still kind of shocked that anyone could think that $220M is a good investment. Or even close to worth it just for bragging rights. Still, I must applaud the building owners and marketers for selling a product that has a value to the super-rich above and beyond what any normal person would consider.
It is unbelievable that certain people have so much disposable income that they could afford to spend 220M on a place to live.
I am strange as the cost has been finalized as this is the matter of place not for the cost. I guess, this business will constantly turn around. We people also work on similar style but we provide the actual measures on accumulated cost that the infrastructures bear. I would like to introduce my venture and here we go: http://www.smartvestorsreality.com
Is this a clear case of location, location, location? Where else but London can overpriced Condo's be found. Please check out my new blog at http://howtomakeakillinginrealestate.blogspot.com…
Thanks
I am totally disgusted at the fact that one dwelling cost this much when here in Australia , thousands of home owners in two states have suffered devastation as a result of flooding! How many homes could be bought and how many lives could be helped with $220 million bucks?!!
very luxurious. they are so blessed that they can spend million dollars for pent house? can they donate to many countries with so much less fortunate people. they can't even buy their everyday food consumption. but then it is their privilege of being rich.