James Dyson, the billionaire famous for buying Singapore’s most expensive penthouse in 2019, has moved back to the UK

james dyson singapore penthouse
Dyson paid $54 million for the 3-floor penthouse in July 2019 and then sold it at a loss in October 2020.

Billionaire James Dyson, inventor of the Dyson vacuum cleaner and a notable Singapore resident for about two years, has moved his main address back to the United Kingdom, Benjamin Stupples reported for Bloomberg, citing filings for Dyson’s companies including his family office.

Dyson made headlines for paying $54 million for a three-story penthouse atop Singapore’s tallest building in July 2019, breaking the city-state’s real-estate record. That same year, he relocated the Dyson headquarters to Singapore from the UK and opened a branch of his family office in the city-state.

Estimates of Dyson’s personal net worth range from around $10 billion to as high as $29 billion, with his wealth stemming from his holdings in Dyson Holdings Pte., the UK’s best-selling vacuum cleaner, according to Bloomberg.

james dyson singapore house
James Dyson’s home

It’s unclear why Dyson, 73, has switched his residency back to his home country. In October 2020, he sold his Singapore penthouse at a $7 million loss, but he still reportedly owns another home in Singapore, a bungalow worth a reported 50 million Singapore dollars, or nearly $38 million.

Dyson’s company, which currently employs about 1,400 people in Singapore, said last week that the company would “shortly” be moving into its new headquarters at an old power station in Singapore, according to the Business Times.

“We do not comment on private family matters and nothing has changed in respect of the company,” a Dyson spokesperson told Bloomberg. “The structure of the group and the business rationale underpinning it are unaltered.”

Representatives from Dyson’s company and charitable foundation did not immediately respond to Insider’s request for comment for this story.

Dyson, who designed the world’s first bagless vacuum cleaner in 1983, also owns a 300-acre estate in the English countryside. On Wednesday, his luxury yacht, Nahlin, was spotted moored off England’s Cornish Coast, photos on Getty Images show.

james dyson yacht
Dyson’s luxury motor yacht “Nahlin” moored off the Cornish Coast on April 21, 2021 in Falmouth, England.

Dyson may be spending less time in the city-state, but other wealthy foreigners seem to be more interested in Singapore than ever. The number of ultra-wealthy people in Singapore grew in 2020 despite the pandemic, according to Knight Frank’s annual Wealth Report. In the past six months, billionaire Google cofounder Sergey Brin and hedge fund billionaire Ray Dalio both announced they’d be setting up family offices in Singapore.

Singapore’s low taxes have long attracted foreign investors, and the city-state’s handling of the coronavirus pandemic has “cemented the country’s traditional safe haven status” for the ultra-rich, Wendy Tang, Knight Frank’s Group Managing Director in Singapore, said in a recent report.

“When coupled with strong and enduring economic fundamentals, stable governance, and an attractively competitive tax regime, Singapore offers a break in the clouds that pushed some of the world’s mega-rich to have a presence here in recent years,” Tang said.

Read the original article on Business Insider

A triplex penthouse that was once Miami’s most expensive listing just sold at a 27% discount after 6 years on the market. Take a look inside.

miami beach penthouse
The penthouse offers stunning views of South Beach and downtown Miami.

  • Real-estate developer Ian Bruce Eichner sold his Miami Beach penthouse for $35 million after 6 years on the market, per the WSJ.
  • The 11,031-square-foot condo occupies three floors at the top of a 42-story tower.
  • I toured the penthouse in May 2019, when it was the priciest listing in Miami-Dade County.
  • See more stories on Insider’s business page.
Real-estate developer Ian Bruce Eichner has sold his three-level Miami Beach penthouse for $35 million, six years after he put it on the market, Candace Taylor reported for The Wall Street Journal.

continuum miami

The 11,031-square-foot condo, at the top of the 42-story Continuum tower in the South of Fifth neighborhood, was Eichner’s personal penthouse. He first put it on the market it in 2015, and it was most recently listed for $39.9 million, per the Journal.

Eichner, who founded the Continuum Company, finished the Continuum condo in the early 2000s. 

Before selling it, Eichner had been renting out the penthouse for up to $200,000 per month, the developer told the Journal. 

In May 2019, I got a tour of the Continuum penthouse, which was then the most expensive condo for sale in Miami-Dade County, listed at $48 million.

penthouse miami beach

The final sale price was a roughly 27% discount from its 2019 asking price.

When I visited, the penthouse was listed with Eloy Carmenate and Mick Duchon of Douglas Elliman. Both agents are now at Corcoran and held the listing there, according to the Journal. 

 

During my visit, my first look at the triplex penthouse was the grand entryway.

miami beach penthouse

Source: Douglas Elliman

During my tour, I found that the living room, pictured below, was decorated in neutrals with black and gold accents.

miami beach penthouse

Source: Douglas Elliman

The formal dining room stuck to the white-and-marble theme.

miami beach penthouse

Source: Douglas Elliman

The eat-in kitchen has stainless-steel appliances and marble countertops to match the floors …

miami beach penthouse

Source: Douglas Elliman

… as well as three ovens and a built-in espresso machine.

miami beach penthouse

Source: Douglas Elliman

The penthouse has seven bedrooms, each of which has floor-to-ceiling windows and sweeping views.

miami beach penthouse

Source: Douglas Elliman

This bedroom opens up to a long terrace that connects to the master suite.

miami beach penthouse

Source: Douglas Elliman

In the master suite, wraparound floor-to-ceiling windows fill the room with sunlight and open up to views of the ocean.

penthouse miami beach

Source: Douglas Elliman

A private terrace off the suite overlooks South Beach and downtown Miami.

miami beach penthouse

Source: Douglas Elliman

It also offers views of Fisher Island, the richest ZIP code in the US, where the average income is $2.2 million and the beaches have sand imported from the Bahamas.

fisher island miami

Source: Insider

The master bathroom features marble floors, double vanities, and large mirrors.

penthouse miami beach

Source: Douglas Elliman

A marble soaking tub overlooks the ocean.

miami beach penthouse

Source: Douglas Elliman

The bathroom also has a walk-in double shower and its own small terrace.

miami beach penthouse

Source: Douglas Elliman

And then there’s the penthouse’s main terrace, a massive 6,091-square-foot outdoor space.

miami beach penthouse

Among the home’s other amenities is a screening room.

The penthouse also has a private pool, which sits on the level above the main terrace and overlooks the Atlantic Ocean.

miami beach penthouse

Eichner, who’s based in New York City, told the Journal that he was looking for another vacation home in the Miami area.

Read the original article on Business Insider

Billionaire hedge-fund manager Steve Cohen just sold his New York City penthouse after 8 years and a 74% discount

steve cohen manhattan penthouse
The penthouse sits on the 51st and 52nd floors of One Beacon Court in Midtown Manhattan.

After eight years and a 74% price chop, billionaire hedge funder Steve Cohen has finally sold his sprawling Manhattan penthouse.

As Oshrat Carmiel first reported for Bloomberg, Cohen’s 9,000-square-foot duplex at 151 East 58th Street went into contract last week, according to an Olshan Realty market report. The sale price was not disclosed, but the penthouse was most recently listed for $29.5 million. Olshan Realty did not immediately respond to a request from Insider for more details on the sale.

Cohen, who runs Point72 Asset Management and has a net worth of $16 billion, first listed the penthouse for $115 million in 2013. Since then, the listing has gone through four brokerages and multiple price chops, per the brokerage report.

steve cohen
Steve Cohen is chairman and CEO of the Point72 hedge fund, which oversees more than $20 billion in assets.

The penthouse sits on the 51st and 52nd floors of One Beacon Court, a 54-story luxury condominium tower that’s part of the Bloomberg Tower complex, according to StreetEasy. The five-bedroom, 6.5-bathroom condo has a 2,000-square-foot master suite and 24-foot ceilings in the living room, according to the listing. At 700 feet above the city, the duplex offers views of Central Park and both the East and Hudson rivers. Cohen bought the penthouse in 2005 for $24 million, per Bloomberg.

Cohen, who owns the New York Mets baseball team, has also owned real-estate in Greenwich Village and the Hamptons. In 2016, he tore down his 10,000-square-foot East Hampton mansion to build a new one in its place after paying $62.5 million for the house three years prior.

In 2019, he sold his triplex condo in the West Village’s Abingdon building for $30 million. According to Olshan Realty’s report, Cohen is in the process of building another home in Greenwich Village. A spokesperson for the hedge-fund CEO did not immediately respond to Insider’s request for comment for this story.

Cohen has long been a fixture in the New York finance world. He founded the SAC Capital hedge fund in 1992 and ran it for years until the firm was busted for insider trading in 2013. As chairman and CEO of Point72 Asset Management, he oversees more than $20 billion in assets.

Read the original article on Business Insider

A Hong Kong penthouse just sold for $59 million – or $17,542 per square foot – making it the priciest apartment ever sold in Asia

21 borrett street hong kong
The five-bedroom penthouse comes with a private rooftop, a swimming pool, and three parking spots.

A five-bedroom penthouse in Hong Kong just sold to an unidentified buyer for about $59 million, breaking the record for the most expensive condo ever sold in Asia by square footage, Shawna Kwan reported for Bloomberg.

The residence sold for a whopping $17,542 per square foot.

The seller was developer Victor Li, the chairman of CK Asset Holdings, a Hong Kong property developer valued at about $23 billion. He’s the son of Hong Kong’s second-richest man, Li Ka-shing, who has a net worth of $36.7 billion, according to Forbes.

The 3,378-square-foot apartment sits on the top floor of a 23-story luxury residential building at 21 Borrett Road in Mid-Levels, an affluent residential neighborhood that’s surrounded by upscale restaurants and offers panoramic views of Victoria Harbour, according to Luxe Living Asia. 

21 borrett street hong kong
21 Borrett Road is a luxury residential complex of five buildings.

21 Borrett Road, completed in 2020, is a complex of five residential buildings with 181 units, according to Homewise Realty, which markets the property. Only a few of its apartments have been put on the market.

The developer delayed the sales launch of the Road residences in August 2019 because of Hong Kong’s pro-democracy protests, according to Hong Kong publication The Standard.

The penthouse is the development’s largest unit and comes with a ​​2,131-square-foot private rooftop as well as a 717-square-foot terrace.

21 borrett road hong kong
Sales of 21 Borrett Road’s residences were delayed in August 2019 amid social unrest in Hong Kong.

Li of CK Asset Holdings declined to comment for this story.

The priciest apartment in Asia

The Borrett Road penthouse broke Asia’s record for price per square footage, but it’s not the most expensive apartment ever sold on the continent.

In 2017, two apartments in Hong Kong’s Mount Nicholson development sold for a combined $149 million. The price per square foot in that deal, however, was $16,897 – about $645 cheaper per square foot than the Borrett Road residence.

Singapore, another one of Asia’s priciest cities for real estate, is also known for condos that sell at exorbitant prices.

In 2019, Dyson vacuum billionaire James Dyson paid $54 million for a three-story penthouse in Singapore’s Guoco Tower. That residence, however, was massive – 21,000 square feet – meaning he paid only about $2,571 per square foot. A little over a year later, he sold it at a loss for $47 million.

Singapore’s largest penthouse, a 28,000-square-foot spread of five combined residences, hit the market earlier this month for $104 million.

hong kong victoria peak
Victoria Peak in Hong Kong.

In Hong Kong, several standalone mansions have sold at much higher prices than the Borrett Road penthouse. In the exclusive enclave of the Peak, where billionaires and business moguls live in secluded mansions, homes can sell for hundreds of millions.

In 2016, real-estate developer Chen Hongtian paid $270 million for a 9,212-square-foot mansion at 15 Gough Hill Road. In January 2017, iPhone screen manufacturing billionaire Yeung Kin-man paid $361 million for a 51,000-square-foot mansion on Pollock’s Path. Alibaba founder Jack Ma was rumored to have bought a $191 million mansion in the Peak in 2015, but it’s never been confirmed.

Just last week, a group of investors paid about $935 million for a 1.25-acre parcel of land in the Peak that was previously used as housing for Hong Kong civil servants. It was the highest price ever paid per-square-foot for a government-owned parcel of land.

Read the original article on Business Insider

Take a look inside Baltimore’s largest penthouse, a $15 million property that belonged to Tom Clancy and is now up for auction

Tom Clancy
  • Tom Clancy’s former Baltimore penthouse is up for auction.
  • The four-bed waterfront property is located in the Ritz-Carlton Residences and has views over the harbor, as well as the city.
  • It has two offices, a private gym, six balconies, and access to a shared pool and meditation gardens.
  • Photos show just how luxurious the property is.
  • Visit Business Insider’s homepage for more stories.

A penthouse that was custom-designed for author Tom Clancy for $15 million has been put up for auction.

The open plan penthouse is located in the Ritz-Carlton Residences in the Inner Harbor area of Baltimore, Maryland, and has 10-foot ceilings throughout.

It also comes with five parking spaces, including valet parking services, and an elevator that takes you from the garage right inside the penthouse.

Elite Auctions described it as “the most impressive and opulent home in Baltimore.”

The penthouse is located in Maryland’s Ritz-Carlton Residences.

Tom Clancy

The 12,000 square foot penthouse was specially made for Clancy in 2010 by combining three individual penthouses, making it the largest penthouse in the city.

It cost $12 million for the three properties, and he spent a further $3 million refurbishing it.

It sits right on the waterfront by the Inner Harbor.

Tom Clancy

Its prime location means the property has views over the harbor and the downtown city skyline.

Clancy designed the property for entertaining. It features multiple generous living spaces so you can host guests.

Tom Clancy

The design is “inspiring and exceptionally modern,” Elite Auctions says.

Tom Clancy

The lighting, window shades, and in-home audio can all be controlled via an app, too.

Tom Clancy

The master bedroom has not just one but two en-suites, as well as enclosed and walk-in closets and dressing areas.

Tom Clancy

The property has four bedrooms in total …

Tom Clancy

… and six full- and one-half bath.

Tom Clancy

The penthouse comes with access to the Ritz-Carlton’s shared pool …

Tom Clancy

… but you can also work out in private in your own gym.

Tom Clancy

After exercising, you can watch a movie in the penthouse’s spacious home theater room.

Tom Clancy

The property also includes two offices …

Tom Clancy

… and one leads out onto a large terrace with harbor and city views.

Tom Clancy

But that isn’t the only terrace: The property has four balconies and two corner terraces in total.

Tom Clancy

If that’s not enough outdoor space for you, the property also comes with access to the Ritz-Carlton’s two acres of waterfront gardens with fountains. The complex also features a luxurious meditation garden.

Tom Clancy

Other services offered by the residences include: 24/7 front desk attendants, free valet parking for residents and guests, dry cleaning pickup and delivery, available maid service, and porters to deliver groceries and packages.

Tom Clancy
Read the original article on Business Insider