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As Definition of Penthouse Evolves, it Generally Means ‘Best-in-Building’

Whether it’s in a supertall skyscraper, modern mid-rise or renovated pre-war structure, there are luxury buyers willing to shell out millions for their perfect property. And in each of these building types, in cities around the world, there’s a prized sub-market: the penthouse buyer. “When you adjust the price for these differences [fireplaces, floor-to-ceiling windows, extra parking spaces, expansive outdoor terraces, etc.] you still typically see a premium of 15% to 20% for penthouses, said Melissa Ziweslin, a managing director at Corcoran Sunshine Marketing Group.

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