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Why buy a penthouse apartment in NYC?

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  • Why buy a penthouse apartment in NYC?

    Why are people so obsessed with buying a penthouse condo or co-op apartment in New York City? Why do we glamorize penthouse living, and think that Bruce Wayne and other billionaires (fictional or real) all live in luxurious penthouses?

    After all, before the 1920's penthouses really weren't a thing. They used to be servants quarters, or used for storage for machinery and other stuff. It was really only in the 1920's when Conde Nast had a party in her swanky top floor apartment that changed cultural preferences. After that, penthouses came to symbolize money and prestige, and became the hot gathering places for the "social elite" that they are today.

    Also, did you know that penthouses by definition are set back from the edge of the roof? In other words, they don't take up the entire space of the roof. This often means outdoor space for a balcony or terrace. Sometimes you'll have really luxurious penthouse terraces with private pools, gardens and lounge areas on multiple sides!

  • #2
    Due to its great views and luxury features, penthouses are typically 5% to 15% pricier than other units in the same building. However, if you're tempted to pay up, you should make sure it's worth the extra money.