If you thought you lived on a nice street, check out these four neighbourhoods reserved only for those with stratospheric wealth.
New York, London, Hong Kong, and LA are widely accepted as four of the most expensive cities in the world, but within these teeming metropolises are certain neighbourhoods that remain strictly reserved for some of the world’s wealthiest and most influential individuals.
Based on data from global real-estate consultancy firm Knight Frank, this list has picked four of the most expensive streets in the world that ranks the number of ultra-sales, which is defined as sales greater than $25 million (£18.5m). Read on to find out where the uber-rich lay their heads at night.
57th Street, New York
Between 2015 and 2019, a staggering 41 ultra-prime sales were recorded on New York’s West 57th Street, otherwise known as ‘Billionaires’ Row’. That’s a sum of around $1.5 billion spent, more than the total GDP of Samoa.
The real estate options on 57th Street include the world’s tallest residential tower – Central Park Tower – which stands at 1,550 feet and has a projected sell-out of $4 billion.
Founder and CEO of Dell Technologies Michael Dell paid a reported $100 million for a penthouse in Steinway Tower in 2014, the most expensive sale in the US at the time. Steinway Tower is also the world’s skinniest skyscraper with just a single residence on each floor.
Mount Nicholson Road, Hong Kong
Between the same period, Mount Nicholson Road in the notoriously expensive city of Hong Kong saw 35 ultra-prime sales with an average of $81.8 million per sale. Mount Nicholson Road can be found on the Peak, one of the city’s most sought-after neighbourhoods that looks down over the brilliant urban landscape of Hong Kong Island.
Hong Kong, meaning fragrant port in Chinese, is one of Asia’s most important financial hubs and has one of the highest concentrations of banking institutions in the world, with 70 of the world’s largest banks operating in the city. This has given rise to an extremely wealthy population of banking professionals who can afford to snap up these luxury estates on the Peak.
One such individual is Lau Chauin, the daughter of Lau Chi-Keung who is the chairman of Heungkong Group – a business conglomerate that deals in logistics, real estate, education, healthcare and finance services. Lau reportedly paid over $80 million for Asia’s so-called most expensive flat in the ultra-luxury Mount Nicholson project, which cost an incredible $18,050 per square foot.
Grosvenor Square, London
With an average ultra-prime sale of $45.5 million, London’s Grosvenor Square in Mayfair has stood out as one of the city’s most affluent neighbourhoods for 300 years. Its central location means that residents are short walks away from the beautiful Hyde Park, upscale shopping hub of Bond Street, and excellent transport links to the rest of the city.
The second-largest square in London was once the headquarters of the American military during World War Two and today is home to several embassies, swanky hotels, and a select few of London’s high society.
Pacific Coast Highway, California
Having a beach house in California that overlooks the Pacific Ocean is something many people dream about, but for a group of wealthy individuals, it’s a blissful reality. The Pacific Coast Highway runs along the west coast of the US and covers the majority of the length of California, showcasing some of the finest neighbourhoods for real estate in the entire country.
Some of the finest properties on the highway can be found in Malibu in southern California. The actor Pierce Brosnan owns a Thai-inspired mansion on Broad Beach worth $100 million, which features 5 bedrooms and 14 bathrooms with a state-of-the-art sound-proof projection theatre with tiered seating, and a bar.
Just down the road is multibillionaire WhatsApp founder Jan Koum’s $87 million mansion at Malibu’s Paradise Cove. This seven bedroom and 10 bathroom gated estate covers over 2.9 acres and has 256 feet of beach frontage, while the main house includes a screening room, recording studio, gourmet kitchen with butler’s pantry, formal living, and dining rooms, and a wine room.