The term penthouse is often diluted in real estate marketing as many try to push the definition of what a penthouse is and represents.
Penthouse units are not only exclusive but they also provide a style of living that is far beyond what’s available in a typical condominium setting. Fuller Sotheby’s International Realty broker Douglas D. Kerbs intends to set the record straight with the introduction of four penthouses listed for sale that are the real thing- meaning that they fully occupy the top floor(s) of their respective building. While all of Kerbs’ listings feature skyline views, expansive terraces, greater living area, direct elevator access, and high end interior finishes, his are true penthouse listings and he’s not afraid to explain why these penthouses are a cut above the rest.
“The worth or value of penthouses is first based on the rarity of the offering (penthouses make up less than 1% of total real estate offering worldwide),” said Kerbs. “A penthouse, much like a single family home, does not have any other unit attached next to it or above it. The square footage or size of the unit is typically greater than most available units in the marketplace, providing a rarity in the market.”
For real estate investors penthouses are savvy pieces of property to consider because much like beach-front property there is a limited supply and a penthouse tends to hold its value, yet appreciate at a greater rate based on its rarity. Despite these benefits, penthouse ownership is not for everyone.
“They are for those who seek a greater living experience,” said Kerbs. “Typically, a penthouse owner is an individual that enjoys privacy. These units are in multi-unit developments; however, often times the elevators open directly into the unit, alleviating any common space associated with a penthouse. Owners typically are single family home owners that desire living in an urban setting without any maintenance. Penthouse owners also seem to need the space to entertain. With all that a penthouse unit commands, it makes it the best option for an individual with a very specific idea of what they are looking for.”
In many metropolitan cities, individuals try to locate rooftops that have the ability to be built on to be able to create these exclusive and often aloof residences, but four true penthouses have recently hit the market, alleviating the task of scouring rooftops.
Fuller Sotheby’s International Realty has listed 25 Downing Street at $5,250,000, 925 Lincoln Avenue at $4,900.000, 475 W. 12th Avenue at $1,299,000, and 909 Lafayette Street at $999,000 (Sold). All are rare residential opportunities in the Denver metro area that differentiate penthouse-style from penthouse-level. To see if top floor living is right for you, contact Douglas D. Kerbs at 303.898.7818.