A Hong Kong penthouse just sold for $59 million — or $17,542 per square foot — making it the priciest apartment ever sold in Asia

• A Hong Kong penthouse elegant supplied for $59 million in Asia’s most costly house sale by square footage.
• It became supplied by Victor Li, chairman of CK Asset Holdings and son of Hong Kong’s second-richest man.
• The five-bedroom penthouse involves a non-public rooftop and pool.
• Talk over with the Alternate half of Insider for extra reports.

A five-bedroom penthouse in Hong Kong elegant supplied to an unidentified buyer for about $59 million, breaking the file for the most costly house ever supplied in Asia by square footage, Shawna Kwan reported for Bloomberg.

The sector supplied for a whopping $17,542 per square foot.

The vendor became developer Victor Li, the chairman of CK Asset Holdings, a Hong Kong property developer valued at about $23 billion. He’s the son of Hong Kong’s second-richest man, Li Ka-shing, who has a acquire value of $36.7 billion, in step with Forbes.

The three,378-square-foot house sits on the head floor of a 23-story luxurious residential building at 21 Borrett Street in Mid-Ranges, an prosperous residential neighborhood that’s surrounded by upscale restaurants and presents panoramic views of Victoria Harbour, in step with Luxe Living Asia. 

21 Borrett Street, accomplished in 2020, is a complex of five residential buildings with 181 items, in step with Homewise Realty, which markets the property. Supreme about a of its residences cling been set up on the market.

The developer delayed the sales beginning of the Street residences in August 2019 thanks to Hong Kong’s pro-democracy protests, in step with Hong Kong newsletter The Usual.

The penthouse is the pattern’s most inviting unit and comes with a ​​2,131-square-foot non-public rooftop as smartly as a 717-square-foot terrace.

Li of CK Asset Holdings declined to comment for this story.

The priciest house in Asia

The Borrett Street penthouse broke Asia’s file for mark per square footage, but it completely’s no longer essentially the most costly house ever supplied on the continent.

In 2017, two residences in Hong Kong’s Mount Nicholson pattern supplied for a blended $149 million. The value per square foot in that deal, alternatively, became $16,897 — about $645 much less pricey per square foot than the Borrett Street field.

Singapore, every other one among Asia’s priciest cities for exact estate, is moreover identified for condos that sell at exorbitant costs.

In 2019, Dyson vacuum billionaire James Dyson paid $54 million for a 3-story penthouse in Singapore’s Guoco Tower. That field, alternatively, became broad — 21,000 square feet — which implies he paid most inviting about $2,571 per square foot. A little over a year later, he supplied it at a loss for $47 million.

Singapore’s most inviting penthouse, a 28,000-square-foot unfold of five blended residences, hit the market earlier this month for $104 million.

In Hong Kong, loads of standalone mansions cling supplied at grand bigger costs than the Borrett Street penthouse. In the uncommon enclave of the Height, where billionaires and industry moguls are dwelling in secluded mansions, properties can sell for loads of hundreds and hundreds.

In 2016, exact-estate developer Chen Hongtian paid $270 million for a 9,212-square-foot mansion at 15 Gough Hill Street. In January 2017, iPhone show veil veil manufacturing billionaire Yeung Kinfolk-man paid $361 million for a 51,000-square-foot mansion on Pollock’s Direction. Alibaba founder Jack Ma became rumored to cling supplied a $191 million mansion within the Height in 2015, but it completely’s below no circumstances been confirmed.

Correct final week, a community of merchants paid about $935 million for a 1.25-acre parcel of land within the Height that became beforehand extinct as housing for Hong Kong civil servants. It became essentially the most inviting mark ever paid per-square-foot for a authorities-owned parcel of land.