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This penthouse, located in Knightsbridge, London, is said to be the smallest luxury penthouse on the market in the capital. Costing £400,000 ($540,000), it’s not exactly cheap.. nor is it spacious. In fact, it’s barely an apartment, let alone a penthouse. However, as it is the only flat located on the 10th story of a building block, the 130 square-foot, one bedroom property has grabbed headlines and demonstrates just how expensive property is in London. Only a few minutes walk away is England’s most expensive penthouse, the $140 million One Hyde Park apartment that was sold in 2014.