Tag Archives: billionaire

Forget Mega Yachts — this mobile private island just upped the ante on billionaire toys

By Dennis Green in Business Insider

 

KOKOMO AILAND by MIGALOO PRIVATE SUBMERSIBLE YACHTSMigaloo SubmariesPart yacht, part private island, Kokomo Ailand is a new model for luxury on the high seas.

Yacht design has gotten pretty extravagant in recent years, but nothing compares to Kokomo Ailand.

More mobile island than yacht, Kokomo is a floating, semi-submersed vessel with a level of luxury that rivals a four-star resort. According to renderings, the “private floating habitat” features multiple decks and amenities, a sky-high penthouse suite, and a beach club.

The company behind it, Migaloo Private Submarines, hasn’t received any orders yet, but it claims Kokomo can be built to specification immediately with existing technology. According to a representative, “the price depends strongly on the client’s wishes.”

Keep scrolling to see the renderings for this insane new billionaire toy.

 

 

 

Part massive yacht, part private island, Kokomo Ailand has all the trappings of a luxury resort.

Part massive yacht, part private island, Kokomo Ailand has all the trappings of a luxury resort.

Migaloo Submaries

 

The owner’s penthouse sits 260 feet above sea level with two elevators, a glass-bottomed Jacuzzi, a private beach club, and ocean views.

The owner's penthouse sits 260 feet above sea level with two elevators, a glass-bottomed Jacuzzi, a private beach club, and ocean views.

Migaloo Submaries

 

Eight engines allow the mammoth platform to chug along at speeds up to 8 knots, or about 9 mph.

Eight engines allow the mammoth platform to chug along at speeds up to 8 knots, or about 9 mph.

Migaloo Submaries

 
 

One of the most exotic features is the jungle deck.

One of the most exotic features is the jungle deck.

Migaloo Submaries

 

It includes palm trees, vertical gardens, and waterfalls.

It includes palm trees, vertical gardens, and waterfalls.

Migaloo Submaries

 

There’s also a spa deck with a gym, a massage parlor, and beauty salons.

There's also a spa deck with a gym, a massage parlor, and beauty salons.

Migaloo Submaries

 
 

The garden deck is reserved for outdoor dining and lounging.

The garden deck is reserved for outdoor dining and lounging.

Migaloo Submaries

 

The real draw is the beach deck, replete with multiple pools, barbecue areas, underwater dining, a shark-feeding station, and an outdoor cinema.

The real draw is the beach deck, replete with multiple pools, barbecue areas, underwater dining, a shark-feeding station, and an outdoor cinema.

Migaloo Submaries

 

Designed with infinity pools and private balconies, the VIP and guest deck is under the beach deck.

Designed with infinity pools and private balconies, the VIP and guest deck is under the beach deck.

Migaloo Submaries

 

A helipad allows easy entry and exit to the island.

A helipad allows easy entry and exit to the island.

Migaloo Submaries

Sales of $100 Million Homes Rise to Record Worldwide

Source: Bloomberg Businesshttps://i2.wp.com/www.ealuxe.com/wp-content/uploads/2013/08/this-is-what-you-could-wake-up-to-every-day.jpgThe Odeon, Monaco Penthouse: most expensive penthouse in the world

The ultra-luxury housing market is scaling new heights as a record number of properties around the world command prices topping $100 million.Demand for mega-mansions and penthouses has accelerated as wealthy buyers seek havens for their cash and search for alternative investments such as art and collectible real estate, according to a report Thursday by Christie’s International Real Estate, owned by auction house Christie’s. Five homes sold for more than $100 million last year, with at least 20 more on the market with nine-figure asking prices, the brokerage said.“You’re looking at a universe of over 1,800 billionaires who are starting to become members of this club of collectors of the most unique and incredible real estate in the world,” Dan Conn, chief executive officer of Christie’s International Real Estate, said in a telephone interview. “It’s something they’ll hold onto for a lifetime, the same way they’ll hold onto a Picasso or a Warhol or any number of the great pieces of art we’ve sold over the years.”

 

Sales are likely to increase this year with more newly built properties and off-market homes trading for at least $100 million, Conn said. Demand is growing among affluent Americans and Europeans; billionaires from unstable economies, such as Russia and Middle Eastern countries; and buyers from mainland China, who were barred from investing overseas before 2012 and since have snapped up houses in cities including Hong Kong, Los Angeles, New York and London, he said.

https://i0.wp.com/www.ealuxe.com/wp-content/uploads/2013/08/most-expensive-penthouse-in-the-world-odeon-ealuxe.jpgThe penthouse and pool area of the Tour Odeon residential apartment block. At least 18 residences have asking prices of $100 million or more, led by the $400 million Monaco penthouse. Source: Realis/SCI Odeon via Bloomberg

‘Can Boast’

“People want trophy homes,” Eyal Ofer, a Monaco-based shipping and real estate magnate, said in interview earlier this week at the Milken Institute Global Conference in Beverly Hills, California. “They’re a scarce commodity. And they’re better than gold because you can boast about it.”

Last year’s sales of homes for at least $100 million were led by an East Hampton, New York, estate purchased for $147 million by Barry Rosenstein, managing partner at hedge fund Jana Partners. The other top sales were a $146 million villa in Saint-Jean-Cap-Ferrat, France; a $120 million estate in Greenwich, Connecticut; a $104 million Hong Kong residence; and a $100.5 million duplex penthouse in New York’s One57 condominium tower, according to Christie’s.

Not all the properties went for close to the asking price. The Greenwich estate that sold for $120 million was originally listed for $190 million.

‘Fundamentally Different’

The fact that asking and sales prices for ultra-luxury properties are reaching new heights isn’t a sign of problems in the broader market and shouldn’t raise concerns that last decade’s housing bubble will be repeated, Conn said.

“I think of this market as fundamentally different from the rest of the market,” Conn said in an interview Thursday on Bloomberg Television’s “Market Makers.” “In order to buy one of these properties, you have to be in the billionaires club.”

Just one home sale exceeded the $100 million mark in 2013, following four such transactions in 2012 and three in 2011, Christie’s reported.

Residences currently on the market with asking prices at that level include a $400 million Monaco penthouse, a $365 million London manor and a $195 million estate in Beverly Hills, California, according to Christie’s. France’s Cote d’Azur, a getaway for jet-setters, has homes with asking prices of $425 million and $215 million.

The report analyzed home sales in 10 cities known for prime property and 70 additional markets, including weekend getaways, vacation resorts and suburban locations. The 10 cities are Dubai, Hong Kong, London, Los Angeles, Miami, New York, Paris, San Francisco, Sydney and Toronto.

Location, Privacy

The average starting price for a luxury home was $2 million in the areas Christie’s studied. It defines a luxury home as having a combination of location, such as a prominent street address, and amenities such as privacy, urban conveniences or collectible architectural quality.

London luxury homes averaged $4,119 a square foot, the most expensive of the top 10 cities. Beverly Hills and neighboring areas of Los Angeles had the highest luxury entry-price point, at $8 million. Toronto had the fastest sales pace, with prime properties finding a buyer an average of 31 days after listing. Dubai had the highest share of international and non-local buyers, at 75 percent.

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