Caspi International Inc., a U.S. real estate development firm, is planning to build a 14-story, all-glass oceanfront condominium tower in Puntarenas The $120 million project, known as Genesis Puntarenas, will include the world's largest penthouse, anticipated to be a 68,459 sq. ft., 10-bedroom space that occupies the top three stories of the tower.

In addition to the mammoth penthouse, known as Caspi Icon, the building will include six other penthouses and 40 more living units, each with retractable glass walls that would transform the units to open-air spaces. The other units will range from 950 to 6000 sq. ft. Some will have three bedrooms.

The tower will also feature two parking spaces for each unit, private elevators, a private beach area, a restaurant, a cigar parlor, a wine cellar, business and meeting spaces, daily maid service, beach cabanas and a helipad.

“It will be an entirely different style of building for Costa Rica,” said Brenna Israel, a representative for Caspi International. “A lot of the buildings in Costa Rica are designed in an older style. The all-glass retractable design is very contemporary and will be the first of its kind in Costa Rica.”

Currently, the Genesis Puntarenas project is in the final stages of securing a construction permit. The final permit is expected to be granted by the end of the month, at which time construction will begin at the site. Though no official time frame for completion is known, Caspi International hopes that the tower will be completed before the end of 2010.

As far as “the largest penthouse in the world” claim, Israel stated that Caspi International didn't initially aim for the distinction but, as the project developed, they realized the opportunity presented itself.

“We started out to try to make it the most luxurious penthouse, but as the project grew, the idea of being the biggest just kind of came about,” Israel said. “We have done an immense amount of research and have yet to find a penthouse that is larger. We stand by our claim that it will be the biggest.”