A London Apartment Sells For $222 Million

LONDON, England -- An anonymous buyer who many believe is from Ukraine spent £136 million ($222 million) for a three-story penthouse overlooking London's Hyde Park, reports several British media on paperwork filed completing the sale this week.

A general view of One Hyde Park in Knightsbridge in London, England.

Many claim the price tag makes this the most ever spent on a single apartment sale, reports the Telegraph newspaper.

The apartment is in the development called "One Hyde Park," and is attached to the pricey Mandarin Oriental hotel in the swanky Knightsbridge London neighborhood bordering London's equivalent of New York's Central Park.

The buyer, who used lawyers in Ukraine to complete the transaction anonymously, is spending an additional £60 million ($98 million) to fix the place up, having bought it with bare walls and no furnishings, reports the Financial Times.

The entire transaction was allegedly done in cash, the Financial Times reports.

The developers of the high-end apartment complex, brothers Nick and Christian Candy, claim to have made a total of £1 billion ($1.6 billion) in apartment sales at the location to date, reports the Guardian.

The brothers Candy reportedly started their real estate development business with a £6,000 ($9,800) loan from their grandmother.

Source: CBS News

Comments