Most penthouses are found in larger cities like New York on top of high-rise apartment buildings. Depending on the size of the apartment building, there may be one or two penthouses. Wall Street apartments can be considered a penthouse. These apartments are generally considered luxury real estate because they can be very expensive and can take up the entire floor of the building. In architectural terms, it is a structure that consumes less space than the roof. In times past, attics were used to house the building’s mechanics, such as the controls for its heating and cooling systems, and its elevator system. It was by no means luxurious the way a penthouse is now, but it was little more than a shed or shack. It was not desirable real estate like it is now.

During the 1920s in New York, when people had money to spend and wanted to take advantage of all the money they had, the idea of ​​building a luxury apartment on the top floor of a building began to take shape. It made headlines when the first penthouse apartment became available to rent. It soon became a necessary feature in multi-story high-rise buildings converted to penthouses.

These apartments are strongly associated with luxury, not only because of their lavish size, but they are often multi-level and have a large outdoor area such as a patio or terrace. They feature the finest fixtures and meticulous interior design, from expensive signature flooring to high-end appliances. The prices of these apartments are very high, whether you are renting or buying the penthouse. Depending on the city, penthouses can average $3,000 a month or more. It depends on the amenities, how many rooms, the furniture and more. Buying such an apartment will usually cost more than a million dollars. For example, in New York, buying a one-bedroom penthouse cost approximately one point four million dollars. These are the reasons why penthouses are for the richest people.

Access to your penthouse is usually provided by a separate elevator. They can also access various building services, including delivery and pickup of everything from dinner to dry cleaning. Because penthouses are so expensive to rent or buy, most rental agencies and real estate agents will not show penthouses to a client until the client can prove they can afford the price. The reason is that it will reduce the number of people who just want to walk through a penthouse to see what it looks like and avoid wasting the time of the rental agent or realtor.