The World’s Largest Penthouse Listed at $50 Million
September 30, 2010 - Puntarenas
By Dawn Wotapka from The Wall Street Journal Asia
In the U.S., the McMansion craze may be fading, but down in Costa Rica luxury has taken a super-sized turn.
New to the market: the penthouse unit of the 14-story Genesis Puntarenas, a 68,459-square-foot oceanfront spread that's a good 10 times the size of your standard American mansion.
The developers are calling it the world's largest penthouse. Asking price for the yet-to-be completed unit: $50 million.
If you're looking at cost per square foot, the Costa Rican pad is a deal compared to the Candy Brothers $312 million Monte Carlo penthouse, measuring 17,500 square feet and considered the most expensive penthouse sale.
We imagine the buyer of the Costa Rican apartment would take the opportunity to rent out the the 10 bedroom, 13 bathroom palace. With its 42 seat dining room, the party potential seems pretty good.
Most buyers would likely hire year-round caretakers, says Bob Hurwitz, the listing agent with Hurwitz James Co. in Beverly Hills.
There's also, of course, a rooftop pool, tennis court, private helipad and floor-to-ceiling retractable glass walls.
The project could take as long as two years to finish, but so far has drawn diverse interest, says Mr. Hurwitz, including queries from a Russian bachelor and a family from China.
The building's 47 other units also include the retractable glass walls, as well as glass terraces, marble floors, quartz countertops; prices range from $473,000 to $3.3 million.
The building itself will include a fitness center, pool with swim-up bar, on-site restaurant and business center.
"People are still looking for the unique trophy properties," Mr. Hurwitz says. "People with big money, they recognize that it's a one-of-a-kind property and, in today's market, it's probably the cheapest it's ever going to be."
This article has been republished from Wall Street Journal
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