How Much More do Penthouse Buyers Pay Compared to Their Neighbors Directly Below?

How Much More Do Penthouse Buyers Pay Compared to Their Neighbors Directly Below?

April 13, 2015

30 Park Place

So maybe you don’t get the coveted “PH” in your address, but you will save tens of millions of dollars by “slumming it” on the floor just below. The data gurus over at CityRealty analyzed the top penthouse sales recorded in 2014 and found that high-rise top floor buyers on average shell out 11 percent more per square foot for their pads than their counterparts just below. Looking at the average selling price, this rings in at a whopping 75 percent more.

Is the PH premium worth it? Let us know what you think in the comments.

[Via CityRealty]

RELATED:

Get Insider Updates with Our Newsletter!

More: Real Estate Trends

Tags: Penthouses

$50M penthouse is the last residence available at the Upper East Side’s famed Surrey Hotel

By Aaron Ginsburg

Manhattan's famed Surrey Hotel is making a comeback. Following bankruptcy proceedings, new owners, and a renovation, the 100-year-old Art Deco landmark at 20 East 76th Street on the Upper East Side reopened last month as a condo hotel, with 100 hotel rooms and 14 condos, part of the Surrey Residences. Now, after a whisper sales campaign, just one remaining apartment is about to hit the market: a three-bedroom duplex penthouse asking $50,000,000. The sprawling residence, the building's most expensive, offers 5,195 square feet plus 2,346 square feet across three terraces and a private rooftop.
tour the penthouse