Mericans not only 1s who do it

Sold: $221 million apartment - unfinished
msnbc.com
11:40 PM EST April 16, 2011

Talk about pricey real estate: A London apartment has been sold for
135.4 milliion pounds, The Telegraph reported Saturday, citing Land
Registry documents. That's about $221 million.
The newspaper said the buyer of the UK's most expensive flat - "Flat a"
at the One Hyde Park development - had previously purchased the
penthouse in cash in 2007.
The kicker - the new owner bought the apartment with bare walls and no
amenities and is thought to be spending up to 60 million pounds to
finish it.
The Telegraph said the buyer is a Ukrainian who used an offshore company
called Water Property Holdings to buy the flat, which covers the top
three floors in the complex, which is next to Knightsbridge.
The complex is the most expensive residential development with almost 1
billion pounds in sales of 45 apartments, the paper said. It added that
almost all the apartments have been bought through offshore trusts.