Are Penthouses Good Investment?
All real estate investors ask themselves at least once in their career, “should I invest my money in penthouses in NY?” and the simple answer to that question would be, “yes, absolutely!”
Are you wondering why? While the real estate market can face many fluctuations in price when it comes to apartments, houses, condos, etc., penthouses are the only property that holds a stable price or even notes the increased value over time.
Penthouses will always have interested buyers among the affluent population, and there’s no better proof than the fact that they get sold as soon as they hit the market. Let AA Real Estate agency nearby be your reliable partner when you’re in search of a penthouse in Midtown Manhattan, Tribeca, Hell’s Kitchen, or any other borough in NY.
All realty agents in the area will be there for all your questions, helping you with the search, showings, and paperwork. Buy a penthouse in Manhattan, rent a condo in Queens, or sell your NY property with AA Real Estate’s team of experts, stress-free and efficiently.
Why Do People Choose to Buy a Penthouse?
Other than being an obvious status symbol that successful and wealthy people pride on, the penthouse is one of the most expensive properties in NY for more than one reason. AA Real Estate’s house agents in the vicinity know the main motives behind the clients’ decision to purchase a penthouse in New York City.
- The view – New York’s incredible cityscapes are best seen from the top of the tall buildings. There are no words that can explain the feeling of looking at the entire skyline from a fancy balcony while enjoying a glass of good wine under the cozy blanket. That’s what penthouses in NY provide, and, according to every penthouse owner, this is worth every penny.
- Space – It’s a well-known fact that penthouses are spacious, and that gives the sense of freedom to all penthouse owners. Also, this type of NY property is excellent for large families that need a lot of rooms and spaces for kids and pets.
- Natural light and air – All that space and large windows and balcony allow the natural light and fresh air to fill the apartment, and this creates a healthier, happier atmosphere.
- Privacy – Being on the last floor of the building enables you to have much more privacy than in other apartments. This also means a more peaceful life in your luxurious shelter. Some penthouses even feature a private entrance and a private elevator.
- Large outdoor space – Other than having a spacious interior, New York penthouses feature a very vast area outdoors, too. Make your little oasis, take care of your balcony garden, set up chairs, tables, and a nice grill, and have your friends over for a relaxing time.
- Luxurious design – Have you ever seen a penthouse with modest design? You probably haven’t. One of the main characteristics of this spacious housing is that both exterior and interior are designed with great taste. Luxurious and modern furniture, expensive artwork, and a great combination of colors and structures improve the overall value and make penthouses in New York even more pricey.
How Much Is a Penthouse in NY?
The price of a penthouse in New York usually varies according to the neighborhood – some boroughs are more affordable than others. Having said that, probably the most expensive penthouse ever bought in the Big Apple costs around $100.47 million. And can you guess where it’s located? On Billionaires Row, Manhattan, as anticipated.
While this is a very high price, there are some less expensive options. However, even the most affordable penthouse in NY is still up there in price. Keep in mind that the most expensive boroughs in New York, such as SoHo, Flatiron, Midtown Manhattan, etc.will have the most expensive penthouses on offer.
If you’re an investor hoping to get the return of investment, you should know that the value of a penthouse can be increased by making small changes in design and amenities inside the property. And since there’s always going to be a buyer or multiple buyers for penthouses, these properties surely are a savvy investment.
Not a big fan of penthouses and want to invest in something that an average buyer can afford? AA Real Estate agency NY “near me” has a lot of apartments, condos in brownstones, and townhouses to offer. Make sure to visit AA Real Estate’s website and find the most suitable housing option. Some of them will remind of a penthouse with an incredible view and spacious rooms, but with a welcoming and warm feel that come penthouses may be missing. Choose anything, from a house for sale in Queens to an apartment for rent in Brooklyn and the Bronx, and give us a call right away. The nearest AA Real Estate experts will find you the ideal home you’ve always wanted, that’s a guarantee!