The bargain Big Apple: NYC doesn’t even come close to having the world’s priciest real estate

By Hayley Kaplan | July 12, 2013 10:30AM

From the July issue: Jaws dropped when a triplex penthouse at the Pierre Hotel hit the market for $125 million, the highest-ever asking price for a New York City home. But believe it or not, that’s nothing compared to trophy home prices in cities like Monaco, London and Hong Kong, which are also setting new records for residential real estate.

The current record-holder for the world’s highest total sale price is billionaire Rinat Akhmetov’s 2011 purchase of a penthouse at London’s One Hyde Park condominium for a reported £136.6 million, or $219 million — approximately $8,774 per square foot. [more]