World's 'Most Luxurious' Cruise Ship Cabin Will Cost $18 Million

Not everyone is cutting back as the economy tumbles. Or, at least, that's the hope at Residential Cruise Line -- the latest entrant into the rarefied world of super-luxe floating condominiums.

The Phoenix-based company finally opened sales this week for what's billed as the most luxurious residential cruise ship ever -- a 76,000-ton vessel that will have 210 units priced from $2.8 million to $18 million.

The line also will hold an inaugural, invitation-only sales event on Dec. 15 at Dubai's Burj Al Arab hotel.

In the works since 2005 and scheduled to debut in 2011, Magellan will offer an elaborate mix of amenities including a tennis court, putting green, four fine dining restaurant, an observatory, all-weather heliport, spa, Broadway-style theatre and two pools. Among its most unusual features: A retractable marina on the back of the ship that will have room for lounge chairs.

Residential says the ship will cost $1.2 billion to build.

As on other residential ships, passengers will own their cabins outright and can hop on-and-off as they like. Residential also is selling time-shares on the vessels.

The least expensive residences on the ship are two 624-square-foot cabins that come with a single bedroom and bathroom and cost $2.82 million. But prices quickly jump to more than $4 million for the smallest two-bedroom condominiums (1,130 square feet).

The ship's most luxurious digs, two $18 million Portofino penthouses, come with four bedrooms, five bathrooms and measure in at more than 4,300 square feet.