One of Karl Lagerfeld’s final works, a luxury apartment tower, is rising in Taiwan

Penthouse units will cost up to $6M
April 27, 2019 04:00PM

Karl Lagerfeld and Taiwan (Credit: Getty, iStock)

Those mourning the loss of fashion icon Karl Lagerfeld will soon be able to turn to a new high-rise in Taiwan to purchase a piece of the late designer’s final works.

In 2014, developer Jut Group teamed up with the late Chanel and Fendi creative director to design an apartment tower in Taichung City, Bloomberg reported. The building is expected to be completed by 2022.

Lagerfeld designed almost every aspect of the building, from the interiors of the uber-luxury penthouses to the building’s facade. Apartment prices start at about $1 million and go up to nearly $6 million for one of the 8,900-square-foot penthouses.

The development is reflective of a new wave of luxury home buyers in Taiwan, which is home to more than 1,500 people with more than $30 million in assets. Though real estate is coveted with the country’s ultra-wealthy owning an average of 5.4 properties — the highest globally — Taiwan’s property prices have stagnated in recent years, which has led to increased competition for the affluent’s dollars. Jut and Lagerfeld hoped the late designer’s collaboration in the tower’s design would be a deciding factor for many of Taiwan’s wealthiest women, who are often the decision-makers in property deals.

Lagerfeld died at the age of 85 in February. [Bloomberg] – Natalie Hoberman