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A rendering of 432 Park Avenue, due for completion in 2015. Courtesy dbox
A rendering of 432 Park Avenue, due for completion in 2015. Courtesy dbox

Room at the top will cost you $95m

The Life: Dubai's crown for being home to the world's tallest block of flats is not long for this world. New York and Mumbai are in the frame to leave the emirate trailing.

Dubai's crown for being home to the world's tallest block of flats isn't long for this world.

New York and Mumbai are in the frame to leave the emirate trailing, with Mumbai the favourite to take the title.

Lodha Group's 442 metre World One project in Mumbai is scheduled to be finished next year while the Rafael Viñoly-designed 432 Park Avenue in New York is due for completion in 2015.

The luxury New York tower overlooking Central Park, will be 426 metres high, 13 metres taller than the world's current tallest residential building, Tameer's Princess Tower skyscraper that overlooks Dubai's Palm Jumeirah.

The New York tower's developers CIM Group and Macklowe Properties say that regardless of the Mumbai project, their building will still be the tallest residential building in "the western hemisphere". Flats at the 96-storey building start from a hefty US$7 million, while the penthouse has been placed under offer for an eye-watering US$95m.

So far the developers have made nearly US$1 billion out of an anticipated $3bn in sales with buyers coming from South America, the Middle East, Britain, China and Russia as Manhattan starts to rival central London as a popular destination for the world's jet-setters.

Part of a wave of super luxury projects currently sweeping New York - also blamed for pushing up house prices in the city - the building features mod cons including his-and-her bathrooms that contain free-standing soaking tubs and come with adjoining dressing rooms. The kitchens feature marble countertops and floors.

Residents also share 30,000 square feet of amenities including a restaurant, garden, spa and gym with sauna, steam and massage rooms, a swimming pool, children's play room, library, lounge and billiards room.



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