Special Places still worth premiums on prices?

Do spectacular apartments command a premium? Naturally.

Have they fallen less sharply than generic properties? Not necessarily. Fifth Avenue, RSD, CPW, Sutton and EEA remain pricey, but they are taking quite a beating. And very special - though possibly viewless - apartments on Park Avenue have cratered.

The bigger the are, the harder they fall.....never truer than 2009

What is the added value of a balcony and a view? And would a unit with a balcony and a view sell better and for what premium than an identical unit without the balcony and a "lesser view" ?

It doesn't get more "special" than the Plaza.

http://ny.therealdeal.com/articles/sales-price-per-foot-halved-at-plaza-hotel-residences-elad-properties

onelap97: I think you are asking impossibly general questions. What kind of apartment are you looking for? Size? Price range? Neighborhood? Pre-/post-war? What kind of view? Is a little balcony good enough, or do you really want a substantial terrace?

This is back to the pick of the litter question. What is a premium apartment? Look at your choices price/location/size/view/etc. in that range. Now view all the apartments in your range. See the good one? So does everyone else. For this place expect to pay a premium that relates to the 'class' of apartment.
It's that simple