One Hyde Park, an ultra-high end apartment complex in Knightsbridge, London, is the world's most expensive residential development.

Residences in the 86-apartment building sell for around $11,270 per square foot, far more than typical residential real estate in London, which currently goes for around $1,059 per square foot.

Despite the fact that sales for One Hyde Park started in 2007, on the eve of the recession, the building has been hugely successful, with 62 units selling for a combined $2.25 billion to date, according to real estate consulting firm Knight Frank.

Knight Frank's new report on One Hyde Park and the creation of the "super-prime" market details the residence's rise, and explains why we're unlikely to see duplicates in the near future.