The kings of condo living

It’s a fact of life: not all apartments are created equal. There are those that give you a decent place to sleep in as well as allow you to spend time outdoors and bond with your family. Others, however, can do much, much more.

Nowadays, you can live the best of what life can offer in a high-rise building. Even though many apartments scrimp on space to give you an affordable place in the city, there are those that provide you a life of luxury. From a private cinema to an unhampered view of the Buckingham Palace, many luxurious condominiums offer unique amenities that aren’t accessible to the average wage-earner. So if you’re rolling in dough and wish to live like a king in the city, check out the most expensive condominiums that exist in the world today.

La Tour Odeon of Monaco is currently the world’s most expensive apartment.

La Tour Odéon ($387 million)

The current record holder for the world’s most expensive apartment goes to the La Tour Odeon of Monaco. Exclusively occupying five floors, this modern palace takes the cake when it comes to extravagant offerings. It’s a penthouse that has its own dance floor, five enormous bedrooms, and a rooftop pool that comes with its own lengthy slide. It has a total area of 31,500 square feet, or approximately the combined area of six basketball courts.

While the apartment offers high-end amenities, the cost of the property is driven mainly by Monaco’s advantage as a tax haven. The country doesn’t collect income tax, allowing the rich to retain most of their earned wealth.  Even with its hefty price tag, you’ll be paying much less over time compared to a similar-sized apartment situated in New York City or Paris. The fact that the country requires buying or renting property as a pre-requisite to permanent residency only drives Monaco’s real estate prices higher than other European nations.

La Tour Odéon was designed by the Groupe Marzocco, Alexandre Giraldi and Alberto Pinto. It has been in operation since 2015 and continues to be the definition of luxury at its finest.

The historic Woolworth Building offers its cap as a newly renovated penthouse for $110 million.

Woolworth Tower Residences ($110 million)

Would you like to live in a piece of history? If you happen to have $110 million dollars to spare, you can do just that by purchasing the penthouse of the Woolworth Building, currently New York’s most expensive apartment available on the market.

Built in 1913 by Arch. Cass Gilbert, the Woolworth Tower was the so-called “Cathedral of Commerce” of New York City. It was the tallest building in the world until it was surpassed by the Empire State Building. Originally housing luxury offices, the top 30 floors of the structure were purchased by Alchemy Properties in 2012 and were converted into residential spaces. The pyramidal cap of the building, which formerly served as an observation deck, has now become the ultimate penthouse with five floors.

The crown is one of architecture’s most recognized 19th century masterpieces. To improve its function as a home, Alchemy Properties decided to add 125 new and expanded windows. Inside, the penthouse is bare, ready to receive its future homeowner’s personal choices in interior design. All alterations to the building had been approved by New York’s Landmarks Preservation Commission.

Besides its historic significance, the new Woolworth Tower Residences features an exclusive lounge, a fitness center, a wine cellar and a newly-renovated Turkish spa and pool. Much of the original features of the building have been preserved, with its Gothic elements restored to their original grandeur. If you want to own a significant part of New York City’s history, the Woolworth Tower Residences might be your best shot.

The interiors of One Palm, designed by Elicyon, boasts of European elements and extravagant materials.

One Palm ($32.68 million)

In 2018, the penthouse at One Palm tower in Dubai fetched a cool 102 million dirhams (equivalent to about $32.68 million). While the apartment may sound cheaper than its international counterparts, it has become the most expensive residential unit sold in Dubai. Considering that the penthouse is still due to receive an interior makeover, one can definitely say that the unit’s new owner has serious money to shell out.

The apartment’s best feature is its fantastic views. Situated on the shoreline, it offers unhampered views of the Arabian Gulf, Dubai Marina’s skyline, and downtown Dubai. Almost half of the 29,800 sq ft of space has been allotted to the exteriors. The penthouse comes with multiple balconies and a roof deck. The new owner even requested a new 20-meter private lap pool be added on the top floor.

The interiors of the penthouse look like a lavish London apartment. This is no coincidence as the London-based design firm Elicyon was the one commissioned to redo the space. The same firm designed One Hyde Park, home to some of the world’s richest sheikhs, oligarchs and businessmen.

The Penthouse of One Palm has been fitted with an exclusive 20-meter lap pool on its roof deck.

The penthouse of One Palm is a triplex, which means it occupies three levels. The building was developed by Omniyat on the Palm Jumeirah, a man-made island. Residents of the building has access to posh amenities such as multiple swimming pools, a spa, an outdoor cinema, a beach club and a private jetty. This home is surely one that has earned its tagline “The Pinnacle of Affluence” and makes us regular folks seem pitiful in comparison.

The Price of Luxury

While many of the rich choose to live private, secluded lives, they still display their wealth through extremely comfortable lifestyles. Luxurious apartments perfectly accommodate these residents, as they offer the best in terms of privacy, amenities and exclusivity.

While the price tags of such apartments may seem ridiculously high, you’ll be surprised that many of the world’s wealthiest happily snag these properties. Like any other piece of choice real estate, the value of these apartments rises over time, and the initial investment actually pays out more in the long run. In addition, the prime location and unique architectural character of the building provides residents the best views of the city.

Many of us won’t ever enter these kind of apartments in our lifetime, and this is exactly what makes posh residential units so special. It remains the exclusive enclave of the most affluent, assuring them of the best life money can buy.

Sources:

www.odeon.mc

Tony Hisgett via flickr.com

onepalm.ae

emirateswoman.com/

www.thenational.ae