Luxury-Homes Associated with Brand Names in London

An anonymous buyer purchased a penthouse apartment in London for 100 million pounds ($157 million). It was an unfurnished duplex in the Bulgari Hotel and Residences. London’s luxury-home values have increased in city central neighborhoods such as Belegravia, Mayfair, and Knightsbridge. The association with the Bulgari name helps to boost the prices of these penthouse apartments up to a thousand pounds per square foot.

The Bulgari project has eighty-five hotel rooms and eight apartments. Prime Knightsbridge Developments Ltd. owns the project and JPMorgan Chase Co. is the lender for the project. Luxury residences with a brand name attached to them are expected to keep cropping up because of the premium that some labels can add.

See London Penthouse Said to Sell For About $157M, Private Wealth, Dec. 20, 2011. 

Special thanks to Joel Dobris (Professor of Law, UC Davis School of Law) for bringing this to my attention.