One Hyde Park sells an 'apartment' for $221,000,000 three months after completion

2011-04-19T00:48:50-04:00

So far 33 flats have been registered at the Land Registry with a combined value of £727.4m [$1,182,243,220]. According to Project Grande, total completed sales to date – about 45, although not all have been registered – have amounted to £963.5m [$1,565,976,550]. There are about 30 still to be sold, with deals worth about £125m expected this quarter.

The $221,000,000 apartment was purchased by Ukrainian billionaire Rinat Akhmetov. Many newspapers and media sources had been scrambling to discover the discrete mystery buyer who had conducted the deal through proxy; however, the Financial Times was first to discover the identity of the buyer. Details of the apartment, as reported by The Guardian, Forbes and Gawker, are that the penthouse apartment was created by joining two five-bedroom 12,500 square-foot units into a 25,000 square-foot apartment complete with a wine cellar.

The unit was sold as a shell with the buyer reportedly contracting design- and development-firm Candy & Candy to complete the interior for $97,000,000.

One Hyde Park, designed by Rogers Stirk Harbour + Partners and engineered by Ove Arup & Partners, is a collaboration between Hamad bin Jassim bin Jaber Al Thani and Candy + Candy through the company Project Grande Limited. The 86-unit project features a bronze-and-bulletproof glass facade offering a total of...

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One Hyde Park sells an 'apartment' for $221,000,000 three months after completion