It was a concept like no other. A floating home where guests could virtually visit a variety of exotic ports in far off places from the comforts of their own luxurious accommodations. Imagine pulling into Cannes during its renowned film festival, stepping out into Monaco during its Grand Prix, or ringing in the New Year in Hawaii. The World of ResidenSea, a Bahamas-based company envisioned by well-known cruise shipping magnate Knut Kloster Jr. was established to offer these amenities via its luxury apartments ranging from 1,106 to 3,242 sq. ft. Costing anywhere from $2.2 - $7.5 million per apartment, the vessel was touted as a breakthrough in luxury cruising. While this may sound too good to be true — it actually is.