The most expensive penthouse in the history of Spain: Sold for €61,500/m² - a record price and a million-dollar value.

Recently, a penthouse in Barcelona set a record, becoming the most expensive property sold in the Spanish market. The price per square meter was €61,500. This refers to the top floor of a building at the intersection of Paseo de Gràcia and Avenida Diagonal. The penthouse has an area of 650 square meters, and the sale, which exceeded €40 million, was handled by the investment group KKH Property.

The new owner will be able to decorate the penthouse according to their taste, although the building is managed by the Mandarin Oriental hotel under the Mandarin Oriental Residences brand, which provides services for common areas such as meeting rooms, a library, a gym, a pool, and a terrace garden. The interior design was created with an emphasis on the play of light and views in spacious areas.

KKH Property invested €180 million in the redevelopment of the former Deutsche Bank building into a luxury 34-story structure.

When the investment group acquired the former tower in 2014 for €90 million, they had plans to turn it into a luxury hotel under the Four Seasons brand. However, they were forced to change their plans when the new mayor of Barcelona, Ada Colau, imposed a moratorium on issuing licenses for new hotels and then banned the opening of new establishments in the city center, which required a revision of the project.

The building has 30 apartments and 4 penthouses.

Despite the obstacles, the project was a huge success, and housing sales began in 2019 with a limited number of properties sold to well-known investors, reports the Spanish newspaper El País.

Although the price per square meter of the penthouse exceeds any apartment sale in Spain, it is still lower than the astronomical figures reached by the most expensive apartment in the USA: three underground floors located over 450 meters high in New York. From there, you can see the curvature of the Earth, and, as reported by The Wall Street Journal, its price is $250 million.

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