New York City was the place that created and conceptualized the luxury penthouse. What is interesting to note is that the etymology of the word “penthouse” is from the modern Latin word, “appendicium” or “appendage,” meaning attached house or building. Indeed, the original idea of the penthouse was a small-sloped house on the roof of buildings. In fact, the penthouse was reserved for servants or lower income residents. Architectural historian and writer, Elizabeth Hawes explained, “only architects and artists seemed to want to live at the top of buildings.” Indeed, it was the architects and artists that saw the beauty and potential of living up on the roof.
It wasn’t until the 1920’s that the high-rise construction boom involved building rooftop luxury flats. The installation of elevators has fostered the growth of high-rise buildings and penthouses which has changed the urban landscape of New York City and revolutionized urban living. Today, the modern penthouse is the embodiment of luxury, urban living and culture in New York City. Much of the luxury real estate listings in the area include NYC penthouses for sale.
Typically, the average price of a NYC penthouse is in the millions. The most expensive penthouse is currently listed at $130 million at 520 Park Ave, located in the Upper East Side. The price of Manhattan luxury apartments is increasing annually. This year alone the average price of Manhattan apartments went up about fifteen percent. Nonetheless, there is still a high demand for NYC penthouses for Sale.
The common building amenities of a NYC penthouse include:
* A fitness center
* Indoor and/or outdoor swimming pool
* Parking garage
* Valet service or Concierge Service
* Laundry Service
The interior designs of penthouses in New York City vary in layout and style. Some are traditional pre-war units, loft-style units, or avant-garde penthouses.
What sets penthouses apart from other luxury condos or apartments is the view of the New York City skyline, as well as expansive outdoor and terrace space. The highest property values and median sales prices are usually in the Upper East Side, a popular area for seeking NYC penthouses for Sale. Some of the properties in the Upper East Side are near Central Park, and the penthouses have some of the most beautiful views of the park. One of the most talked about properties is the 432 Park Ave building. It is the second highest building in New York City and the tallest residential building in the world. This ultimate high rise has one the most breathtaking views of Manhattan and surrounding boroughs. The building will not be opened until 2015, but the current price of the penthouse unit is $95 million. There will be a few more super high-rise residential buildings that will reach the same height as the now famous, 432 Park Ave. There are many other NYC penthouses for sale in the Upper East side, including the Manhattan House at 200 East 66 Street. This building includes elegant pre-war penthouse units with a modern touch.
The modern penthouse has come a long way from its humble beginnings. The innovation, creativity, and marketing strategies in promoting the luxury penthouse, has become the aesthetic core of New York City architecture and culture. It is no wonder penthouse sales and profits in New York City will continue to soar.
