Monaco penthouse flat sells for $300 million
September 13, 2010 - Monaco
A penthouse in Monaco has been sold for a whopping €240 million (over $300 million), which may be the biggest residential property sale of all time.
An unnamed Middle Eastern investor has bought the lavish 17,500 sq ft Monaco penthouse La Belle Epoque from British property developer brothers Christian and Nick Candy, reports the Telegraph.
Each suite in the penthouse, the top two floors of a block of flats, has its own cinema, kitchen, dressing room and two bathrooms, and it has a spa, library and gardens.
The historic building, which sits directly above Monte Carlo's marina, is one of the best known in the principality, dating back to the pre-war glory days of Monaco.
It also has a history as in 1999 Edmond Safra, a secretive billionaire banker aged 67, died alongside his loyal nurse, locked in a security room in the penthouse, after a fire was started by servant.
The sale of the home points to the recovery in the fortunes of the super-rich, which has helped boost prices for luxury homes.
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