These properties are by definition exclusive and rare, so when a good listing comes along, be sure not to miss it. Here’s why.
If penthouse living is not yet on your property wish list, it should be, especially on Cape Town’s Atlantic Seaboard says Ian Slot, MD for Seeff Atlantic Seaboard, Waterfront and City Bowl.
Penthouses by definition tend to be very exclusive as there is a limited supply and usually only a handful on the market, he says. These apartments offer the best views, especially along Cape Town’s Atlantic Seaboard and come with a significant status factor.
Floor spaces can range from around 600sqm-1000sqm for a top class unit, but it is really the views, exclusivity, privacy and convenient lock-up-and-go lifestyle that draws buyers, says Slot. Most tend to have direct lift access, open-plan living with fabulous finishes, large glass windows for maximum vistas throughout, balconies or rooftop entertainment areas and some come with a private pool.
Penthouse living is synonymous with the rich and famous, from Marilyn Monroe to more recently, Taylor Swift who owns a New York penthouse, Facebook founder, Mark Zuckerberg who has invested in a Tel Aviv penthouse and One Direction’s Liam Payne who owns a London penthouse.
Monaco is home to the world’s most expensive penthouse, the 3300sqm The Tour Odéon which five floors atop the tallest building in the principality. At USD387M, it comes with sweeping views of the Mediterranean and an enormous outdoor swimming area. Second on the list, is One Hyde Park in London at USD227M which comes complete with a golf simulator, private cinema and squash court.
Third and fourth place is occupied by New York penthouses. The Pierre Hotel Penthouse at USD125M is set over three floors, offers panoramic views over Manhattan and boasts a livingroom considered to be ‘the finest privately owned room in the world’, a Swedish sauna and an 18-century style library.
The CitySpire Penthouse in New York is priced at USD100M. It is also set over three floors and comes with 6 bedrooms, 9 bathrooms, a media room, conference room, formal gallery, a 1000-bottle wine cellar, a large outdoor area and a separate apartment just for the staff.
The remaining top ten most expensive penthouses include: (5) 432 Park Avenue in Manhattan, New York (USD95M), (6) One57, New York (USD90M), (7) South Bank Tower, London (USD90M), (8) Opus Hong Kong, Hong Kong (USD58.6M), (9) 56 Leonard in Manhattan, New York (USD47M) and (10) Clermont Residence, Singapore (USD47M).
In the Southern Hemisphere, the most expensive is believed to be Australia’s Sydney Harbourfront penthouse at USD30M (about ZAR357m) which offers 700sqm and sweeping views theiconic Sydney Harbour Bridge and Opera House.
While the sky is the limit in terms of what celebrities and high net-worth individuals will pay for the perfect penthouse, South African prices are still well below international rates, says Slot. Aside from residential or retirement buyers, penthouses also appeal to holiday and second home buyers given the easy living and low-maintenance that it offers.
The most exclusive penthouses tend to be in Clifton and at the V&A Waterfront Marina where you could now expect to pay up to R200,000/sqm and R130,000/sqm respectively for a an exclusive position. The One Penthouse at the One&Only at the Waterfront which sold (by Seeff) in late 2009 for over R110m is still regarded as the most expensive penthouse in the country.
Lynn Pinn and Finella Botes, Seeff agents for the Waterfront and Mouille Point say that the Front Yacht Basin Penthouses at the V&A Marina rank amongst the most sought-after with prices of around R40m-R69m. The marina comes with top security and residents have access to gymnasiums and swimming pools and can also rent yacht berths in the neighbouring Silo Precinct where a penthouse in Silo 3 sold late last year for R84m to a local businessman.
The most exclusive penthouse currently on the market is however, on the beachfront in Mouille Point in the new East West building. Priced at R88m plus VAT (R130,177/sqm), it offers 676sqm spread over two floors and comes with three bedroom suites, two living areas and an entertainment deck and private pool.
Adrian Mauerberger and Cecily Sher, luxury sectional title agents for Seeff Atlantic Seaboard add that in the Sea Point and Fresnaye areas, complexes such as La Camargue and TheFresnaye offer highly desired penthouses. Prices range from R22.5m at The Fresnaye (465sqm, R48,400/sqm) to R42M at La Camargue in Sea Point.
The Cape Town CBD also offer a number of top class penthouses with fabulous city and harbour views according to Seeff CBD agents, JP Ricketts, Warren Emett and Alan Screen. Prices range from around R17.5m-R30m (around R80,000-R98,865/sqm).
The 5-star Pepper Club penthouse offers panoramic views and duplex living with three bedroom suites, priced at R17.5m (R80,275/sqm) while the two Stonehill Place Penthouses which sit atop the Radisson Blu hotel are priced at R20m and R25.5m respectively. These penthouses all have access to the fabulous hotel amenities including restaurants, a spa and gymnasium and a swimming pool.
According to Seeff Sandton, the most expensive penthouses in Sandton, Johannesburg include the Michelangelo Towers which sold for R43m in 2014 and was marketed at R50m about 18-months ago. Also, the Regent in Morningside which sold for R31m in 2016 and was again listed about 18-months ago at R60m.
The Leonardo, currently under construction in Maude Street, Sandton will reportedly offer a three-storey penthouse known as the ‘Leonardo Suite’ which is expected to have a price tag of up to R180m.
Contact Seeff Atlantic Seaboard/Waterfront/City Bowl 021 434 9175 or visit www.seeff.com.