Penthouse: A symbol of luxurious living for the elite.

A century of prestige

Originating in New York City in the 1920s amidst a booming economy, penthouse apartments were immediately recognized as living spaces for the elite due to their luxury and exorbitant price. These apartments broke conventional rules to create ultra-luxury residences that met all the requirements of upscale urban living, befitting owners who were financial tycoons or renowned magnates.

One of the first penthouses was owned by American media mogul Condé Montrose Nast – the founder of the renowned Vogue and Vanity Fair magazines. His apartment was a duplex penthouse spanning 465 square meters, encompassing luxurious functional rooms such as a living room, ballroom, library, and beauty salon.

Another remarkable penthouse apartment was designed in 1925 for Marjorie Merriweather Post, founder of General Foods and one of America's wealthiest women. Her apartment occupied the entire top three floors of 1107 Fifth Avenue in Manhattan. With a wrap-around terrace, 17 bathrooms, two kitchens, a wine cellar, a flower and fur storage room, and a dining room seating 125 guests, this apartment was considered the gold standard for luxurious living.

Today, penthouse apartments can be found all over the world – in Hong Kong, London, Los Angeles, and other cities. The owners of the most luxurious penthouses are also famous names such as President Donald Trump with his gold-plated penthouse, comedian Amy Schumer, supermodel Gisele Bündchen, and singer Jennifer Lopez… Of course, over the past hundred years, the popularity of penthouses has never waned, and the amenities within these apartments have only become more luxurious.

Expensive and rare

To own a penthouse with such luxurious amenities, the owner would naturally have to spend an equally astonishing amount. Their value isn't measured in millions of USD, but rather in tens or even hundreds of millions of USD.

Located atop the Tour Odeon building (Monaco), the Million Sky Penthouse spans five floors and covers 3,000 square meters.²This is currently the world's most expensive penthouse, valued at $387 million. The apartment features at least five bedrooms, each on a different floor. It also includes a floor dedicated to dancing and two swimming pools on different levels, connected by a water slide. Notably, from its elevated location in Monaco, you can enjoy panoramic views of the French Riviera.

Another penthouse, located atop the tower at 220 Central Park South (New York), is valued at $250 million. It spans four floors and boasts five balconies offering stunning views of Central Park. With 16 bedrooms and 17 bathrooms, this apartment has so much space that you won't know where to sleep or relax.

Despite their exorbitant price, these penthouses hold an irresistible appeal for some who appreciate luxury. Not only do they offer a sophisticated living space designed to blend seamlessly with nature, but they also boast a unique location high above the ground, allowing owners to gaze upon the world below.

Furthermore, regardless of the city, the number of penthouses built is extremely rare because not every high-rise building meets the requirements to design a penthouse on the top floor. This scarcity further increases the value of penthouses and forces those who want to own one to engage in a fierce competition.

With all those top-tier criteria, penthouses are now a living symbol of status, extravagance, aesthetic taste, and wealth for the ultra-rich.

Hai Anh