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CNBC: World’s Most Expensive Penthouse?

Comments Off on CNBC: World’s Most Expensive Penthouse?
Posted March 26, 2013 by GC Privé Editor in Tour Odeon Monaco Press Coverage

Here’s one sign of a global housing recovery: Every month seems to bring a new “world’s most expensive” listing or sale.

By Robert Frank

Tuesday, 26 Mar 2013 | 12:54 PM ET

This month’s offering is the penthouse of the Tour Odeon in Monaco. The Odeon is still under construction and won’t be finished until the end of 2014. But already it’s become one of the world’s most exclusive and desired addresses among the super-rich.

Sales are averaging about 65,000 euros per square meter, which works out to around $7,700 per square foot, according to Fred Schiff of Knight Frank, the London-based estate agents who are handling the global marketing for Odeon.

The penthouse of the 49-story building is still a concept and is not officially on the market yet. It could wind up being multiple units or one giant penthouse.

But one design that’s being bandied about would add a 33,000 square-foot penthouse on the top floors that would include a private infinity pool and massive ceilings and panoramic windows. Capping it all off is a water slide, allowing the billionaire owner to shoosh into the pool that’s more than 500 feet above the ocean.

Schiff said that nothing has been decided with the penthouse and the water slide design is merely a designer plan. “It’s just one thing the developers are talking about,” he said.

Still, if the penthouse was built, it would sell for more than $250 million, making it the most expensive penthouse in the world. That would top the reported $212 million paid for a flat in the One Hyde Park development in London.

Even if it doesn’t top the most expensive, the Odeon penthouse would certainly claim the title for the world’s coolest water slide.

Read more at CNBC online.