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London Penthouse Sells For 220 Million Dollars

Posted: 14 Aug 2010 07:30 AM PDT

One_hyde_park London’s Hyde Park has some of the most expensive real estate in the world. The new One Hyde Park development is leading the way with 86 units starting at around 32 million dollars and going up to the 220 million dollars sale of the six bedroom penthouse recently.

With the influx of money from Russia and the Middle East, London has become the premier destination for high end real estate. Demand for the best real estate has driven up prices as for the “money is no object” set demands the best mainly for bragging rights.

A six-bedroom penthouse at London’s posh One Hyde Park development has just sold for a record-breaking £140 million, or about $220 million, making it the most expensive piece of residential real estate in the world (in terms of current listings and sales). The massive deal eclipses the paltry $150 million asking price for The Manor, Candy Spelling’s monstrous mansion in Holmby Hills, California, previous holder of the World’s Most Expensive title. While the identity of the buyer remains a closely-guarded secret, speculation is centering on oligarchs and oil sheikhs, the London Telegraph reports. The palatial penthouse stretches across two floors and boasts bullet-proof windows, a panic room and stunning views across the Serpentine lake in Hyde Park. via Luxist

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London Penthouse Sells For 220 Million Dollars