According to The Real Estalker, renowned real estate developers and interior designers Nick and Christian Candy, who own Candy & Candy, have sold their penthouse in Monaco for £199,000,000 which equates to a whopping $306,446,000. The 17,500 square foot penthouse is located in Monaco’s ultra-luxurious Monte Carlo and overlooks the marina. It boasts a 2-story library and rooftop terrace. The buyer is an unnamed Middle Eastern investor who bought the penthouse on a 97 year lease. This news comes after a mega penthouse at One Hyde Park in London sold at a mind numbing $220 million. Who would have thought that another hair raising penthouse sale would occur? I guess conspicuous consumption will never die.

CLICK HERE TO READ AN ARTICLE ABOUT THE HOME IN ARCHITECTURAL DIGEST

  • Chance

    Two words: complete insanity




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  • Nalin

    I know this sounds ludicrous, but I would totally pay any amount of money (if I had it) to live like that in Monaco.

    I have been to Monaco and it is BY FAR my favorite place on earth. So much history, style, class and overall elegance. Monaco is literally an exclusive country built just for billionaires. Every car is exotic, all the stores are the highest level fashion designers, all the restaurants are world class…. most millionaires cannot even afford to live here.

    A 1 bedroom condo in Monaco can easily go for over $2 million USD. There is nowhere on earth like Monaco, the only place even close is London. Thats why you will see, and continue to see outrageous home prices/sales in these 2 places.




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    • Nalin

      I read an article that the average price/sq ft in the entire country of Monaco is about $50,000 USD. so for a 17000 sqft place in Monte Carlo, the most expensive part of Monaco, it should cost $800,000,000 USD… this guy got a bargain hahaha




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      • Chance

        According to Luxist, it cost $120,000 to $150,000 per square meter on Avenue Princess Grace which is the most expensive street in Monaco. A little math puts the price per square foot between $11,000 and $14,000, nowhere near $50,000. Average price for all of Monaco is about $6,000 per square foot.




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        • Daniel

          Price per square foot has little meaning when you’re talking about super high-end homes/apartments. It is unlikely someone will calculate how much it is per sq ft. The entire package is what counts. And in this case, it is quite possibly the best apartment in the most expensive city in the world. Someone who has tens of billions will pay whatever the price is…and I would too 🙂




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          • Chance

            Yea, my point with the comment was Nalin said he got a bargain because there are places that cost 3 times as much per square foot, when in reality this is as expensive as it gets there. It’s neither a bargain nor a rip off, just the expected price.




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        • Nalin

          I guess my source was off. But still $11,000/sq ft is still outrageous




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          • Chance

            No doubt. You said you’ve been to Monaco, I was wondering is it overly crowded or fairly spacious despite it’s small size? I’ve always been curious as to why extremely rich people would want to live in such closed areas.




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  • Daniel

    Someone should hand me a freaking medal for predicting this would go for above $200 million if sold. God I hope Barney comments on this post ;)….




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    • Barney

      Your Wish is My Command, Dan, and HEY EVERYBODY, I’M BAAAAA-AAAAACK! 🙂

      Obviously got a little lazy & haven’t posted lately, but enough a’ that! To the PSYCHOTIC matter at hand…….

      I view this sale like I view about 99% of American pop culture, music and ESPECIALLY television. With an ETERNAL and IMMEASURABLE amount of UTTER GHASTLINESS, CONFUSION, REVULSION AND UNENDING HOPELESSNESS. I’m 49, and don’t care one iota that I sound like someone TWICE my age who came from dirt poverty (which I definitely did NOT) but, the amount asked & paid for for this penthouse is SO FAR PAST ANY CLINICAL FORM OF THE MOST VIOLENT INSANITY that it makes Glenn Beck sound sane, Bernie Madoff look like a small-time hood, and George Bush seem like EINSTEIN.

      Jokes aside, I really see this as one of the truly most VILE abuses of what we call “money” in MY ENTIRE LIFE. You all know that I agree that ANY one can do ANY thing with their own money, but this is such a BLOOD-CURDLING, MIND-BOGGLINGLY AND SCALDING HORRIBLE abuse of it, that it truly turns my stomach.




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  • Grrrowler

    I go back to my mantra that a thing is only worth what someone will pay, so clearly this place was worth $300,000,000 (at least to one person). Whether or not it’s worth that to anyone may never be seen.

    The Candy brothers do have an incredible sense of style. They know how to do traditional and classical while giving it a modern twist which makes it even more elegant.

    Still, $300,000,000? I’m beginning to think that any property with the name “Safra” connected to it automatically has a premium placed on it.




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    • Chance

      Personally, I’d rather pay $700 million for Villa La Leopolda than $300 million for this. I’d like a yard 😀




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  • george

    I am not a tax expert, but I understand that there are no taxes, either income or death, so owning property and becoming a citizen might be a way of saving a lot of money, for the ultra rich. From what I understand the money that runs the country comes from the casinos




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  • Stewie

    Hi guys! Sorry I haven’t commented for a while, I was abroad on holiday! I’m back now. Hmmm what to say about this sale? Obviously it’s a completely outragerous price, and as soon as I saw it was bought by someone from the middle-east, it became clear to me why this price was achieved lol. It seems we are firmly back in 2007 prices, at this rate Villa La Leopolda is worth 750m again. But these prices can obviously only be achieved if there are people dumb enough to pay that amount.
    Candy & Candy are smart because they’ve specifically targeted these people. People with far more money than sense, who got their money quickly and dubiously and want to get rid of it. Candy & Candy really are geniuses. They’re not billionares yet (I think) but at this rate they’ll be there soon. Move over Donald, there’s new property big-shots in town. C & C are also moving into the US and are developing an apartment block in LA




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    • Look again – that LA property was recently foreclosed upon (like 1 of their other London properties). Of course, this is just business acumen because sometimes there are reasons it’s better to give it back to the bank. Regarding the LA property, it may interest you to know that this deal went down without securing ANY of the zoning that one usually gets before going this far. I believe it was cofinanced with a bank in Iceland that their government took over.

      As far as Monaco goes, I’m in love with this Penthouse! But I would rather spend less on a yacht (I know they are moneypits, but I still love them) Also remember, all residents of Monaco get free cable from their King! 😉




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      • Daniel

        I heard that residents of Monaco cannot step foot in the casino. I wonder if this applies only if it is a primary residence or something like that…




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  • Marie

    Wow is all I can say.




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  • Luke

    Monaco is the closest thing to Elysium on Earth.




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