5 terms to look for instead of 'penthouse' if you're on the hunt for a luxury apartment with a unique layout, high ceilings, or outdoor space

• The penthouse apartment is not necessarily the most luxurious apartment in a building.
• Several other types of properties offer similar features and value.
• If you're looking for elements such as unique layouts, high ceilings, and outdoor space, keep an eye out for terms such as "maisonette," "garden apartment," and "sky loft," among others.

The term "penthouse" is synonymous with prestige and luxury, but it's actually not always the best apartment in a building. And some say the penthouse has lost some of its allure, as Business Insider previously reported.

Reba Miller, a broker at Berkshire Hathaway HomeServices, said penthouses aren't necessarily the "trophy property" anymore.

Read more: Luxury apartment buildings in NYC are locked in an 'amenities war,' and it's highlighting a major problem in the housing market

"You can go to many buildings, buy on a lower floor, and feel like you bought the penthouse," she told The Real Deal.

Alex Lavrenov, an agent at Warburg Realty, told Business Insider that "there are a number of properties that can show the same value as a penthouse would, or attract the same kind of clientele."

Here are five other terms you should be looking out for if you're not set on a penthouse.