Cloud Nine

 

Leave it to Monaco to develop something that redefines “rarified air.”

The Tour Odeon, a double-skyscraper going up near Monaco’s Mediterranean seafront, will contain a 35,500 square-foot penthouse with a water slide connecting a dance floor to a circular open-air swimming pool. The apartment may sell for more than 300 million euros ($400 million) when it goes on the market next year, French magazine Challenges reported. That would make it the world’s most expensive penthouse, according to broker Knight Frank LLP.

“We think we can get a little bit more,” Daniele Marzocco, a director at the company, said in June. So far, the developer has found buyers for 26 of the 36 luxury homes that have been offered for sale. A car parking space at the project costs 250,000 euros, Marzocco said. That’s about 50 percent more than the median value of an existing U.S. home, according to data compiled by the National Association of Realtors.

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