Across the world there are around 12.5 million millionaires. This means that there is high demand of expensive real estate. Not only for these millionaires to live there luxurious lives in, but also to create more wealth through renting their penthouses out and various other income streams.
As we take a look at these wonderful penthouses, take note of the value between asset purchased and asset worth. You may find that some of these penthouses are just on this list due to location rather than their real valued worth.
Most foreign investors are buying U.S. real estate in either Florida or California. Only one of these states appears in this list. However, the average price of U.S. real estate bought by a foreigner is around $450,000. So although there is more chance of these penthouses being owned by U.S. investors, we can’t rule out that some of these penthouses have been snapped up by worldwide investors.
The U.S. is in debt by around $17 trillion. So these small transactions may not affect the economy too much, but when you look at the big picture, these penthouses could be sold to American citizens, which in the long term will help the U.S. economy out.
It is estimated that by the end of 2014 house prices will have risen by another 2.5% which means it’s probably the right time to buy these penthouses and let their value go up through inflation.
This list includes penthouses that have either been listed on the property market within the last five years, or apartments that have been bought within the last five years. So with this in mind, lets take a look at seven of the most expensive penthouses in the U.S!
7. The Spencer Condominium Penthouse, New York: $29.5 Million
This gorgeously terraced 5,190 square foot wide penthouse is situated in New York. Your very own private elevator will take you to your two story penthouse boasting four bedrooms, all with wood burning fireplaces. You also get a fully packed library and a formal dining room. Included in the deal is a south facing terrace where you can overlook the wonders of inner city and central park. Upstairs you will find the master bedroom that also offers a south facing terrace as well as an office and en-suite. You are looked after well in this apartment as they offer 24 hour concierge service, housekeeping daily and the opportunity to hold banquets. This apartment would be best suited to someone who is looking for a hands off experience with a lot of wealthy friends.
6. Faena House Penthouse, Miami: $50 Million
This amazing, one of a kind penthouse has some of the best views in the world. This 18 storey luxury complex was designed by private local Miami contractors. This complex offers a 360 degree view of Miami and 8,000 square feet of pure luxury. It comprises of four bedrooms with five beautiful bathrooms where four of them are south facing with terraces. It costs the person buying around $6,000 per square foot and is sixth on our most expensive apartments list. This specific apartment was built in the space of two years in 2011 and boasts features such as private gym, private pool and a home cinema. If you are looking for some of the most spectacular views known to man, then Miami is the place for you.
5. Acqualina Penthouse, Miami: $55 Million
The ‘Acqualina Penthouse’ is situated on the coastline of Miami. It is the top floor apartment of a two story complex and is currently under construction but listed on the market. Great features include 24 hour private concierge service, general housekeeping and fantastic views! You also receive exclusive access to the ‘Sky Garden’ on the roof of the building that hosts a live green wall, full of exotic flora. The roof also has a 25ft waterfall that runs into the infinity pool which looks out over the ocean. Equally as important is the 100ft outdoor cinema screen, so you can swim or sit under the stars and watch your favourite films with some fantastic views.
4. Ekaterina Rybolovleva’s Penthouse, New York: $88 Million
Bought by Ekaterina Rybolovleva, a female Russian millionaire (whose father is a mining billionaire.) She bought it 2 years ago and only lives in the apartment ‘part-time’ as her main residence is Monaco. Her father recently bought Donald Trump’s 33,000 square foot Florida Estate for $95 million in cash. So he figured that buying his daughter a 6,700 square foot New York pad for cash is the least he could do to get her further onto the property ladder. Mr. Rybolovleva is currently in a spot of bother with his finances as he is locked into a nasty divorce with Mrs. Rybolovleva who wants $3.5 billion from him. Luckily this apartment is in his daughters name and will not affect the possession of this beautiful property. This is the fourth property on the list, and makes it the only known property owned by a female.
3. One57 Penthouse, New York: $90 Million
The Founder of the One57, Gary Barnett spent 15 years assembling the One57 hotel. In May 2012 he sold the One57 top floor penthouse to a private buyer for just over $90 Million. This penthouse has some of the best views of New York, overlooking Midtown Manhattan. It is currently the biggest residential building in the city, but it is expected that 432 Park Avenue will overtake the One57’s height by 2015. The One57 has won multiple awards for its design and it is noted as one of the most compelling buildings in the U.S.
2. Sherry Netherland Penthouse, New York: $95 Million
This $95 million dollar apartment is based in the Sherry Netherland complex in New York. The actual complex was built in 1927 and converted into residential suites in the 1950’s. The lower end apartments inside the building start at $1,500 per month, which is a good price to pay for the views and location that you get with this complex. The maintenance fee to keep this apartment in good shape is $54,000 a month; this is to receive daily housekeeping, 24 hour concierge and room service. The apartment includes a luxury library as well as a terrace with views of Central Park. Well known residents include Diana Ross and Charlie Rose. One thing to note with this apartment is that it has been slated as having terrible designs and interior features. People who have made publicly positive opinions about this apartment seem to be creative and be influenced by art. So if you are someone with artistic quality then this apartment would be a great investment for you.
1. Pierre Hotel Penthouse, New York: $125 Million
The Pierre Hotel Penthouse situated in New York is the most expensive U.S. penthouse registered as purchased. Its divine interior makes use of statues worth over $1 million each and a Swedish sauna that was reportedly worth over $1.5 million to build. The unique arched cathedral windows and fireplaces were designed in the 17th and 18th century, while the rest of the three story penthouse was designed nearing the 19th century. The grand wooden staircase is something of a real beauty, with the 360 degree view over Manhattan, Central Park and the Hudson and East Rivers make this penthouse so seductive for investors. There is also an on-going monthly maintenance cost for this penthouse which is around $47,000. This covers electricity and two housekeeping staff.