The Costs of a Penthouse for Sale in Chelsea NYC

by | Aug 18, 2014 | Real Estate

While most people in search of a penthouse for sale in Chelsea NYC will understand the costs associated with it, many people are flabbergasted when they realize that the price for these beautiful options is extremely high. Because a penthouse is on the top floor of a high-rise building, it is going to cost more money. In most cases, a penthouse is double or triple the size of all other apartments in the condominium and features many things that other condos, apartments and homes do not.


While every city and area is different, most penthouses in Chelsea NYC are going to run upwards of a million dollars and more. There are many factors when considering price, including the market for penthouses, the city, size of the penthouse and features within the home. Finding a penthouse for sale may be easier if there are only one or two people living there, but if you have a six-bedroom penthouse, you will be paying a lot more than if you only need a one bedroom home.


Another reason why a penthouse in Chelsea NYC costs more than other apartments and condos is that there is a higher percentage premium put on all penthouses. This premium can be up to 60 percent higher, so if the condos in that building are running $250,000, you can expect a penthouse to be up to 60 percent higher than that, or around $400,000. Clearly, most condominiums in a large city like Chelsea will cost more than a quarter of a million dollars, so you can expect the price of the better options to increase also.


Because condominiums and penthouses offer more features than a regular apartment or home, you will be paying more money. Security systems, tons of windows with natural light, hot tubs in the master bathroom and other great features will ensure that the price is higher.

Another great feature is the amount of square footage you will be living in, as most penthouses are double that of condominiums, giving you up to 6,000 square feet of space, depending on the penthouse for sale.


If you are worried about the high price, you may be interested to know that penthouses around the world can be even pricier, at around $30 million dollars for one single penthouse. While not for everyone, if you can afford a penthouse, it is definitely worth it.

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