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Here's how much extra buyers are willing to pay to have 'penthouse' in their address

Asta Thrastardottir   

Here's how much extra buyers are willing to pay to have 'penthouse' in their address
Thelife1 min read

We all know that New York City's real estate prices are staggering. The average rent for a studio apartment in Manhattan recently hit a record high - and the city's most expensive penthouse recently sold for a record-breaking $100 million.

Despite sky-high prices, there are still people willing to pay top dollar for that "PH" elevator button.

But how much more are they actually paying?

CityRealty analyzed the prices of high-rise Manhattan condominium buildings and created this graphic that looks at the average price differences between penthouses and apartments on lower floors. Turns out, the average buyer is paying 75% more for the penthouse than the apartment directly below.

Check out the full graphic below.

CityRealty Penthouses Infographic

CityRealty

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