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How Cost Is Determined With Penthouses For Sale In Chelsea NYC

Though you probably expect to pay a lot of money for penthouses for sale in Chelsea NYC, it may be interesting to you to know how those costs are determined and what you get for the price you pay. Many times, a penthouse can be triple or double the size of typical condominiums in the same building, which means you are getting more space, and they are on the top floor. While most people would assume that ground-floor apartments would be more expensive, there is a better view and less noise at the top, so these are considered the most luxurious.


Many times, the same features you can get with a penthouse for sale can be found in a regular home. However, if you are determined to live in Chelsea NYC, it may be difficult to find a house to purchase or rent while penthouses for sale are usually easier to find. Features can include security, hot tubs, large windows, panoramic views and so much more.


Premiums are higher for a penthouse than a traditional condo or apartment. Every floor of a condo has a higher percentage premium placed on it because it is slightly better than the one below it. A penthouse premium is usually about 60 percent higher than a traditional condo in the same building or area, so you can expect to pay 60 percent more for a penthouse than a condo. The ground-floor condo may be 60 percent less than first-floor condos, which are 60 percent less than second-floor options, and it continues to go higher and the floors rise.


Because of higher premiums and markets, penthouses for sale usually cost at least one million dollars. If the city offers a lot of beautiful skyline and a lot of different condos, you could expect to may more, which is why many developers build condos in urban areas. The price will also be determined based on the features and size of the penthouse.

Worldwide Options

It may be shocking to think that in America you could pay one million dollars or more for a place to live, but other countries can be pricier. The penthouse is still considered a high-status symbol and those that can afford one are usually very well off and powerful in their line of work.