World’s Most Expensive Penthouse – Odean Tower
NET WORTH OF PENTHOUSE- $ 387 MILLION
Alluring, beguiling, exquisite have become too obsolete to define extremely gorgeous and extremely luxurious Tower Odean penthouse. This lofty building has not only given a new definition to the architectural design but also to the beauty it holds. Monaco has already been among the most sought glamorous holiday destinations due to luxurious casinos, yachts, exotic cars and invigorating events such as Formula One Grand Prix, Monte-Carlo Arts Festival, and Rolex Tennis Master. Now, it has added another extravagant property to its long list of grandeur to become a strong magnet to attract the richest and most discerning property tycoons in the world. Tour Odean penthouse is not only the most extortionate housing sector but is also the tallest building reaching up to the height of 557 feet encompassed by splendid landscape and second tallest on European’s Mediterranean Coast after Gran Hotel Bali in Spain.
INTERNAL & EXTERNAL FEATURES
Tour Odean is a 50 storey building that features 70 opulent apartments; some of them might have one or even a count of 6 bedrooms. There are two sky-duplexes of about 13,000 square feet and crowning it with a spectacular five-floor, 35,500 square feet multi-storey sky-penthouse which is completed with private water slide and exclusively infinity pool. It can be defined as an impeccable real estate that provides visual delight from every perspective and probably from all angles. The sky penthouse flaunts floor-to-ceiling windows and most elegant private terraces with panoramic and glorious views of Monaco, Larvotto beach and the Ligurian Sea. The blocks of penthouse has Russian and Turkish saunas, several swimming pools, private spas, a full-time concierge, private chauffeured limousines, private car valeting and a cinema. Each apartment is solely dedicated to luxury and has been designed with complete finesse and finest quality material. The breathtaking designs of bedrooms are definitely havens of pure comfort. Dry cleaning, housekeeping and valet services will all be organized by residents with the help of the touchscreen in each apartment. Odean Tour will have a luxury on-site supermarket, 24/7 concierge and day-to-day housekeeping service for residents. As well as being within easy reach of Italian Riviera, residents can take complete advantage of annual local events such as Monte-Carlo Arts Festival or Monte-Carlo Jazz festival.
AMAZING FACTS ABOUT ODEAN
An interesting fact about this penthouse is it is still under construction being a theoretical concept as it demands great adroitness of engineering to get completely ready to become flawless eye-tonic of the city. The price tag on the house is already rife over how much the penthouse will cost, which is not just $ 250 million or $ 300 million but yes an astounding amount of $ 387 million, based on the size and current prices for apartments in the building.
STRAIGHT FROM DEVELOPERS AND SELLERS
Fred Schiff of Knight Frank is a London based real estate agents who is also looking after global marketing for Odean Tower and speculates to have cost of construction to be $ 7,700 per square feet. The visionary for this project is architect, Alexander Giraldi who is renowned for “belle époque” design, inspired by the atmosphere of early 20th century Paris beginning with the work of excavation and demolition for this towering building in 2009, where they expect to finish with the structural work as early as by the end of 2014. The “belle époque” was an epoch between 1871- 1914, which was characterized by optimism and peace in scientific discoveries, in whole of Europe. Responsibility of interior designing has been vested to most trusted and extremely dexterous Alberto Pinto agency, whose previous clients include Saudi Arabian royalty and American captains of industry on the other hand the task of ground designing has been undertaken by prominent landscape architect Jean Mus. It was estimated that the development of the tower would consume somewhere near $ 790 million with 24 apartments offered for sale. In February, 18 were sold well above $ 25 million. On the other hand, the 3,300 square feet apartments cost nearly $ 28.2 million. Average price now stand now stand at a record $ 3700 per square foot which is double of what it was in 2006 and rose smartly up from the crisis year of 2009 when they ticked down to $ 3,100 a square foot.
BEAUTIFUL YET CRITICIZED
It was in the year 1980, when Prince Rainier II gave a decision to end the construction of giant structures in Monaco, along with the construction of some controversial architectural choices. The scheme of tower was later sanctioned by Prince Albert II, who decided to abandon a polder project that was judged to be too expensive as well as menacing to sea life, and build a new high-rise and reformed polder project. The complex’s design and construction was subjected to Urbanism Department of Principality and the Prince of Monaco himself.
Even after the spectacular and stunning design, Odean Tower has been censured by the neighboring French City of Beausoleil for blocking the views and diminishing real estate values as a result of which an association was created and the Mayor called for discussion between French and Monegasque authorities. After this incident, some locals attributed the tower the nickname as “Odious Tower” after which the project continued to follow its intended path.
The success of the project will not only prove to be the apotheosis but also a giant leap in the economic development for the second smallest country in the world.
