Lynn Tribbling

PENTHOUSE PIZAZZ:

DEEP THOUGHTS ABOUT HIGH PLACES 

By Lynn Tribbling, Ardent of Purveyor Penthouses.

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I have had a long-time love affair with Penthouses. Over the years, I have always lived in penthouses and sold hundreds of them in some of the best buildings in the city. Recently, I sold for the same spectacular Penthouse in Kings Landing, for the third time!

 

A prudent person might ask, what motivates us to snap up expensive Penthouses when comparable suites on a lower floor costs 25% less? Equally intriguing, is why someone would pay hundreds of thousands of dollars extra for the thrill of pressing the P.H. button on the elevator?  Sounds irrational, but I think the reasons are soundly rooted in sociology, psychology and logic. Life at the top, in a palatial Penthouse, offers three seductive advantages: Prestige, Privacy, and Privilege.

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PRESTIGE:

Social psychologists tell us that height and elevation, in every culture, are associated with superiority. Listen to the suggestive nuances in our language implying upper is better: “pinnacle of success”, “peak performance”, “top of the heap”, and “high society ”.  Being close to the ground connotes the opposite, diminished rank: “down and out”, “low life”, “bottom of the barrel”, and “over the hill”.

 

Status is as real a need as food, and shelter. Ask Maslow.  Conspicuous social standing is a deep-seated drive, hardwired in our brains since primordial times. This subliminal urge compels the rich and super-achievers to aspire penthouses. Ask Trump.

 

Condo developers recognize this symbolic linkage between height and prestige.  In new projects, they demand, and get tens of thousands in premiums for high floors.  Also, limited availability of Penthouse suites, due to simple economics of supply and demand, adds to the prestige and pride of ownership. Exclusivity creates desire. This striving for standing is reflected in our preference for exclusive cars, fine jewelry, exotic trips, and haute couture. A $50 watch tells the time as well as a $50K limited-edition time piece, but it does not communicate that you have arrived. 

               

PRIVACY:

Another magnet of penthouses is, privacy.  Typically, Penthouses are larger than other suites, with only two suites per floor, or sometimes the Penthouse occupies the entire top floor. This means that there is no neighbour beside you to blast the stereo; no one above you to flick cigarette butts on your terrace; and no one across from you to catch you disheveled at 6:00 a.m. groping for the paper! Some buildings have individually keyed elevators, so that the top floor is accessible only to Penthouse residents.  Not only is privacy assured, but also security. The penthouse is a modern-day fortress insulating you the clamor and calamity of the masses.

 

PRIVILEGE

Penthouse owners enjoy perks which are not available to residents on lower floors. namely, structural upgrades only possible on the top floor. These alluring architectural features which add pizzazz to penthouse living, include: high ceilings, skylights, domes, vented wood-burning fireplaces, spacious rooftop terraces, hot tubs, private gardens, B.B.Q. and entertaining  areas. The finishes are custom, the layouts unique and the amenities bespoke. Everything is one-of-a-kind.

 

Probably the most irresistible appeal of penthouse living is the jaw-dropping, heart-stopping, panoramic view from the top floor. In real estate, the 3 most important factors in buying are: Location. Location. Location!  Within a specific condominium, the same principle prevails. Top is best.

It seems fair to conclude that the three magic words in selecting a condominium are: Views. Views. Views!

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