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This Billionaire’s New $550M Monaco Penthouse Sets a New World Record

This Billionaire’s New $550M Monaco Penthouse Sets a New World Record

The secret Mareterra penthouse deal just shattered real estate records worldwide.

Set along the French Riviera, Monaco just has that affluent, high-end feel. It’s the type of place where celebrities, athletes, and some of the world’s top racing drivers end up calling home, drawn in by the views, the lifestyle, and the overall vibe that’s hard to replicate anywhere else. And as Formula 1 continues its global rise, the historic Monaco Grand Prix gains even more traction among tourists looking to catch all the action in person. As you could expect from an area with a total population of less than 40,000 and a GDP of over $10 billion, the Monaco real estate market is both scarce and expensive, no matter where you are in its 502-acre vicinity. Monaco is making headlines in the real estate world after Bloomberg recently reported that Ukrainian billionaire Rinat Akhmetov purchased a penthouse apartment at Mareterra Monaco for a record-breaking $550 million, making it the most expensive single-home transaction in history. While it’s only now making headlines around the world, the sale reportedly took place in 2024 and was kept under wraps until this week. Akhmetov’s five-floor, 21-room waterfront property spans more than 27,000 square feet of interior space and features amenities like multiple balconies and terraces, a private swimming pool, a jacuzzi, and at least eight parking spots for his car collection.Set along the edge of Monaco, Mareterra is designed to feel like a natural extension of the city, with waterfront paths, pockets of greenery, and a small marina where everything centers on just hanging out by the water. There are a few standout spots, like the main square with its reflecting pools and Quatre lances, but most of the appeal lies in how it all connects. You can wander through the hillsides, grab a coffee near the port, and end up along the promenade, heading toward Larvotto Beach, without putting in much effort. As homes continue to get picked up, it’s only a matter of time before Mareterra Monaco’s resident list starts filling up with some familiar names.

Sources: Bloomberg/Mareterra Monaco

Jordan Aquistapace