Best Manhattan, New York Penthouses

 

Owning a condo penthouse in Manhattan is a global status symbol.  Penthouses are the best apartment(s) in a building.  It can be on the top floor of a super luxury tower like 432 Park Avenue or the biggest apartment in a low density Soho or Tribeca building with 10 floors.

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Investing in a Manhattan penthouse apartment

Investing in a Manhattan penthouse apartment.  There are downsides as well, such as the elevator stop is always local.  Of course, the benefits of a penthouse unit include the best views, light, feel good factor and numerous other soft perks.

$110 million penthouse a bargain?

Extell Development recently raised its asking price for the penthouse at One57 to $110 million.  Forbes reports that Extell's President calls it a bargain at $110 million.  Reason is that at 11,000 sqft, the penthouse at One57 equates to about $10,000 per sqft.  Note that the price of the average condominium in Manhattan in 4Q'2011 was $1,295 per sqft.  So how can $110 million be a bargain?