The World is a condominium at sea for the uber rich. A 644-foot ship — wait, make that giant private yacht — with 165 apartment units, it roams the seas visiting exotic ports 365 days a year. The World is a world unto itself, filled with restaurants, nightclubs, shops, spa, pools, gyms, masseuses and theaters on board — there’s even a putting green. Basically, everything picky people could ever want, need or desire. Talk about second homes, for most owners this is a third, fourth or fifth home. A select few toss the keys to their earth-bound homes and live on The World full-time.
Residents aboard The World come from around the globe: VIPs, jet setters and political dignitaries. They are meticulously private. We have friends with a modest unit on The World, it’s their fifth or sixth home and they love it. Last I heard, Dallas radio personality Ron Chapman and his lovely wife Nance also have a place on The World. I am sure you are wondering how much a condo on The World costs — thought you’d never ask: prices start at $750,000 for a studio apartment and go on up up up to ten million for the six bedroom penthouse (will you look at that view)! Oh, don’t think you’re off the hook that easy: there are also HOA-like monthly dues and of course you might as well build the clothing budget into the mortgage because when on The World, one must dress appropriately.
The original 165 residences sold out in June 2006, according to Ann Brenoff at AOL Real Estate. But The World usually has about 10 percent of inventory listed for resale — sorry, no fire sales or foreclosures. In fact, my sources tell me sales are actually quite brisk because we seem to be minting a lot of corporate wealth these days. Of course, if you hear of one, let me know. AOL says:
“…in 2010, the ship sold 18 apartments generating $41 million in gross sales. Of that, four apartments were valued at $5 million-plus each, said Nikki Upshaw, the vice president of sales and marketing.”
Texan Ed Lennox has owned units on The World since March 2007. At first, he shared ownership with someone else but then decided he liked the yacht so much he bought two — a 1500 square foot, two-bedroom pad and a 350-square-foot studio apartment for when friends and family visit. And they have plenty of family: five kids and two grandkids. They spend about half the year on board. The Lennoxes are a perfect example of my second (and third, and fourth) home demographic readers — Baby Boomers wanting a fun escape where they can enjoy their families and create memories. Lennox told AOL the yacht is loaded with everything he needs to work remotely while at sea. It is indeed, he says, a floating condo where everyone has become a community of friends.
I think I’ve just found the perfect second home!