A luxury penthouse in Hong Kong's Mid-Levels district has set a new per-square-foot price record for first-hand property transactions.

Hong Kong billionaire Li Ka-shing’s flagship property developer CK Asset Holdings has sold a penthouse mansion at a luxury development in Mid-Levels in Central for HK$362 million (US$46.2 million), setting a per square foot price record for first-hand transactions this year. The 2,911 sq ft unit on the 20th floor of the second phase of 21 Borrett Road went for HK$124,356 per square foot via public tender, according to a statement from the developer on Sunday. The unit that was sold “boasts an...