The latest addition to New York’s skyline will be the world's tallest residential building. Picture:

London - Those with a spare R950m in the bank may be used to the high life – but they can now pay to live in the clouds.

The world’s tallest residential building – the R43.9 billion, 472m Central Park Tower – held its topping out ceremony this week and saw the price of its luxury penthouse revealed.

Taking up the 112th floor, the R950m property sports five bedrooms, five bathrooms, a gigantic kitchen, sitting and living areas and a private reception gallery.

The latest addition to New York’s skyline is so big that developer Extell had to buy 557m2 of "air rights" from the nearby buildings it looms over.

Prices for two-bed flats lower down the skyscraper will go for R100.6m. Extell president Gary Barnett said: "We have to price it at a reasonable range for this type of product."

When Central Park Tower opens next year, it will officially overtake the current tallest residential building 432 Park Avenue, which sits 800m away, by 46m.

Daily Mail