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

Penthouse units will cost up to $6M

Apr.April 27, 2019 04:00 PM

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

Related Articles

Zillow CEO Rich Barton (Credit: iStock)

Zillow and Opendoor aren’t making much on home-flipping

This week, the State Department of Taxation and Finance issued a new memo that notably made no mention of condos. (Credit: iStock)

Regulators quietly change stance on condos in LLC law

Realogy CEO Ryan Schneider (Credit: iStock)

Realogy’s plan to stop the iBuyers from gaining a foothold in Chicago

Daily Digest Thursday

Worker killed at Lam Group construction site, Uber signs WTC lease: Daily digest

Developers are offering to pay the increased mansion and transfer taxes to give them an edge in a difficult market. (Credit: iStock)

Amid slow sales, developers give buyers a break on mansion taxes

Triplemint’s David Walker and John Scipione with Hoboken, New Jersey (Credit: iStock)

Triplemint expands to New Jersey

Brokerage firms are strategizing ways to make up losses after the cost of application fees was capped at $20. (Credit: iStock)

Brokerages on rental application fee cap: “It hurts”

Alex Rodriguez (Photos by Guerin Blask)

A-Rod is coming for NYC and SoFla real estate