What’s the difference between an Upper East Side condo for sale and an Upper East Side apartment for rent? What exactly is a penthouse and why is it so desirable? For those looking to move into property for the first time, these can be tricky questions to get answers to. Luckily the differences aren’t too difficult to explain, but knowing the difference as you prepare to buy will ensure you make the right choice and don’t end up paying for something you or your family won’t find ideal.
What’s an apartment?
An apartment is a complete housing unit, usually found in a building with other complete housing units. The main difference between an apartment and the other types mentioned here is that the tenant does not actually own the unit, instead renting it from a landlord for a regular fee. This means that while the tenant may make full use of any features and amenities given, they may not modify the unit in any way without permission from the owner, and they do not directly dictate the rules set for the unit. Manhattan House features a number of apartments for rent, complete with access to the building’s private garden, underground garage with valet service, and all other features and amenities that come with the luxury residence.
What’s a condominium?
The main difference between an apartment and a condominium is that a condominium’s resident actually owns the unit. Often a condo will have a homeowner’s association (HOA) with a board made up of elected owners, set in place to decide various building rules. Owners also pay regular fees to their HOA board to cover things like routine maintenance, upkeep, and emergency needs. If you feel you’re ready to purchase a unit of your own, Manhattan House has several different layouts of Upper East Side condo for sale, complete with all of the amenities and extra services you’d expect from a premier luxury building.
What’s a penthouse?
Simply put, a penthouse is the very definition of luxury. Almost always located on the topmost floor of a building, penthouses feature all the amenities of a condominium located in the same building, but with less noise, more space, incredible views, and even more features and amenities. Often (but not always) pre-furnished, penthouses provide an elegant solution for would-be owners who seek to be away from the daily goings-on of their city, but still close enough to access desired shops, transit options, and necessities. Penthouse living is often synonymous with the utmost luxury, and with exquisite units created by world-renowned interior designer Vicente Wolf, the penthouses of Manhattan House set a new standard for luxury in Manhattan.
