Penthouse - What's the difference?

Not under your hypothetical. If there is no difference other than a "PH" on the elevator button, that doesn't get too much of a premium. There is some benefit I imagine to having no one one top of you, and if you have a terrace or something that is covered on lower units but isn't on the top floor, then that makes it worth more. But simply the cache of being the Penthouse? I guess the premium t is worth what someone is willing to pay for the button in the elevator.

Give us a link so we could see the units

Kyle, thanks for the info.
The only difference we noted was the higher ceiling. I think the ceiling in the PH is about 2.5 feet higher than the lower floor.

2.5 foot higher ceiling is a big deal, makes it feel much more spacious even if smae size. Worth 5-10% more just for that alone.

The PH button itself is probably another 5%.

Agree with modern. Ceiling height--especially of 30 extra inches--is quite a big deal. I'd agree 10%+ premium for the ceiling and button depending upon overall desirability of the building/location.

I have one friend who has a PH that is exactly the same as the unit below AND has the downside that the roof above her extends out a great deal over her floor to ceiling windows, casting a weird half shadow into her apartment all mid-day. She hates it. She'd rather live one floor down. My point: check what's going on above you, even if it isn't people that you're worried about.

I love 126 Waverly/89 Washinton: elevator buttons: 1,2,3,PH.

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David Goldsmith
DG Neary Realty

My personal favorite is 120 RSB: 4 PH levels for a 20-story building. Hard not to laugh when you are confronted with a fifth of the buttons declaring PH1, PH2, PH3, and PH4.

you get to pay for leaks in a ph--great deal

High ceilings are a very big deal, especially if they come with extra windows.

"High ceilings are a very big deal, especially if they come with extra windows."

There are actually a number of loft buildings and row houses where the windows are considerably smaller on the top floor (even if the ceilings are high). It's a fenestration issue.

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David Goldsmith
DG Neary Realty

The problem with a penthouse(with roof) can be leaks. However unless you own the roof, then the condo or coop is reponsible for fixing the leaks.

thank you for comments everyone.
How about if it's a public roof - wouldn't the condo or coop be still responsible for fixing the leaks?

If it's a public roof, yes. In fact, that's what can end up being a problem with "roof rights": I've seen cases where someone had "roof rights" which they never used/developed in any way, but when there was a leak, in order to avoid paying for the repair, the Coop told them "it's your roof; you have to pay to fix it".

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David Goldsmith
DG Neary Realty