Purchasing a penthouse especially in a city like New York is nothing short of the ultimate validation. It signifies the fact that you have made it in the world and that your success is undeniable. Now that you have the means to purchase a penthouse, the next step is actually finding a property that will suit your needs. Contrary to popular belief, penthouses are not all the same. While they all represent affluence and success, various properties are different in terms of size, design, floor layout, and other relevant qualities.
When looking for a penthouse for sale, it is very important to have a comprehensive checklist of things to look for and consider prior to making a decision as to which unit to purchase. Below is a sample of a penthouse search checklist that can help with your search.
Location
Views and Exposure
– The point of buying a penthouse unit is to ensure that you have the perfect view in the morning as well as at night. One of the first things to look for in a penthouse is its views and where it is facing (north, south, etc). In the case of Manhattan apartments, people always look for units that face Central Park (especially corner units), since it is by far the best view in the city, bar none. It is best to take note that spectacular views do demand a certain premium. In fact, in some apartment buildings in Manhattan (especially Upper East Side and Upper West Side) the disparity in price between an apartment facing Central Park and that which does not is well into a couple of millions. This should tell you just how much money people are willing to spend in order to ensure that they get the best view available.
Transportation
– Crowded cities tend to have excellent public transportation systems, which means you have to consider the location of the apartment in relation to where the bus/train stations are. If you have a car, it is also important to consider how far you are from the most important infrastructures such as hospitals, schools, malls, etc.
Price per Square Foot
This is a very important factor for consideration since it will determine how much money you will need to shell out for a penthouse unit. Keep in mind that penthouses tend to be more expensive per square foot compared to other units in the same building. You have to consult with your real estate broker when it comes to choosing properties that are priced just right. While you should expect to pay good money for a penthouse unit, it is certainly not wise to spend more than what is necessary.
Amenities
Doorman and Concierge– Building facilities and amenities are just as important as the features of the penthouse. Having a doorman and a concierge on duty 24/7 is highly beneficial as it ensures added security. Doormen and Concierges are trained to keep unknown entities away from the building and only allow entrance to residents, approved guests, and visitors who have been properly vouched for by the resident/s.
Floor Plan and General Space Layout
An ideal penthouse unit is one that has an excellent common area (living room), spacious and updated kitchen, and ample sized bedrooms. In addition, you would also want to consider purchasing a place that has floor-to-ceiling windows, especially if the view is stunning.
Modern penthouses (anything built after 2004) are usually very airy, with an open floor plan. Penthouse units are not known for having too many rooms and partitions so this is something you have to watch out for when scouting for a place.
Other details to look for include sky light, recessed ceilings, built-in appliances i.e. oven, washer/dryer, etc.
Penthouses make for excellent homes, whether you are a single professional who made it big or a burgeoning family out in the big city. The key is finding the right property for the right price.
