Inside The World’s Most Expensive Neighborhood: $550 Million Apartments, F1 Stars And Billionaires
On a June morning during the Formula 1 Grand Prix weekend, thousands of F1 fans and tourists flooded into Monaco, the postcard-sized principality on the French Riviera. Along the two-mile circuit, just after Turn 8, visitors milled about its newest neighborhood, Mareterra, a 15-acre luxury development built directly on the Mediterranean Sea. Even walking along Mareterra’s waterfront […]
On a June morning during the Formula 1 Grand Prix weekend, thousands of F1 fans and tourists flooded into Monaco, the postcard-sized principality on the French Riviera. Along the two-mile circuit, just after Turn 8, visitors milled about its newest neighborhood, Mareterra, a 15-acre luxury development built directly on the Mediterranean Sea.
Even walking along Mareterra’s waterfront plazas under the cantilevered Le Renzo—a 17-story residential tower designed by Pritzker Prize-winning Italian architect Renzo Piano to look like a fragmented vessel emerging from a shipyard—there is a clear view of the superyachts moored off the Mediterranean coast and the floor-to-ceiling windows of the high-rise apartments above.
“There’s a billion dollars’ worth of yachts in the bay, minimum,” says Bernard D’Alessandri, the general secretary of the nearby Monaco Yacht Club, looking out over a balcony. “And another billion here in the port.”
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