The Real Deal New York

Editor’s note: the evolution of the “penthouse”

September 13, 2014 03:00PM

From Luxury Listings NYC: It used to be that, long ago, a penthouse was the highest apartment at the tippy top of an apartment building. But then real estate developers realized that lots of people would like to live in a penthouse apartment — and that they could charge more if a home was labeled as a penthouse — so these days, the term “penthouse” can mean any of the apartments on the last few floors of a building. A new condo building might have four or five penthouses. [more]