By Lisa Van de Ven – National Post

The best views. The most fabulous features. Enough space for the finest parties, and terraces that make the lack of a backyard irrelevant.

Welcome to the penthouse suite. Your “house in the sky.” That’s what David Hirsh calls them. They’re synonymous with the fabulous life, and builders across the city are offering them in a variety of styles.

“You’re on top of a building, with panoramic views all around you,” says Mr. Hirsh, president of Brandy Lane Homes. At his project, the Station Condos on the Subway, at Wilson and Allen, there are 14 of them: two-storey penthouses that will grace the 14th and 15th storeys of the building, starting at 1,300 square feet and $609,900. The rooftop terraces that come with each are their biggest draw at up to 950 sq. ft. of space, complete with storage.

For buyers seeking a switch from a luxury low-rise to penthouse life, outdoor space is appealing, Mr. Hirsh says. It’s the answer to the backyard buyers are giving up. “You could easily have a party for 50 people on those terraces — no problem. They’re huge,” he says.

Mr. Hirsh is expecting a largely low-rise crowd to buy into these units: empty nesters wanting all of the luxuries they had in their houses. It’s a common penthouse buyer: Someone who wants all of the space of their house, without the maintenance or upkeep.

“They often try to replicate their lifestyle in their single-family home,” says Sam Crignano, principal of Cityzen Development. They can do that to some degree, he says. But moving from a low-rise home to a condominium — even if that condo is larger than any other suite in the building — often means some kind of compromise: fewer bedrooms or bathrooms, for example, or more open-space living areas without as many corridors.

Mr. Crignano often sees that compromise at play. At L Tower downtown, he released eight penthouses in September, along with project partners Castlepoint Realty and Fernbrook Homes. While the plans range from 1,068 to 2,400 sq. ft., with prices starting at $1,466,750, the suites are completely customizable, and buyers are able to add space as needed. They have the flexibility to recreate that low-rise experience. “They start with a square footage in mind, but when they start laying out the space and consider how they want to furnish these rooms, they quickly run out of space, so they’re always growing these units,” Mr. Crignano says.

While having enough space indoors and out is integral, it’s only one part of the penthouse life. Having the ultimate in finishes is equally as important. Many builders offer finishes in their penthouse units that are a step above those in the rest of the building. At the University Avenue condo-hotel Living Shangri-La Toronto, for example, recently released penthouse suites start at 3,300 sq. ft. and $9,322,500; features include private elevator access, terraces with hot tubs and two islands in the kitchen (one for cooking and one for entertaining). The penthouses at Twenty-One Clairtrell in North York, meanwhile, come with 10-foot ceilings, heated floors in the master bathroom and seven high-end Miele appliances (including a wine cooler and an espresso maker). Remaining penthouses there range from 1,463 to 1,896 sq. ft., and are priced from $1.1-million. “This is a Mike Niven-designed building, and Mike has done some exquisite packages for the penthouses,” says Jack Winberg, president and CEO of Rockport Group, the site’s developer.

And more so than with other condo buyers, penthouse purchasers often like to wait to see those finishes in place before actually buying, Mr. Winberg says. Historically, penthouse buyers have waited until a building is completed before purchasing their unit. That’s why developer Tribute Communities chose to finish its penthouse suites at 1717 Avenue Rd. once the building was built, furnishing two so that people could see them first-hand. Their plan seems to be working: Since putting the penthouses on display in August, they’ve sold one of the four units. Three penthouses remain, as well as one sub-penthouse; prices start at 1,500 sq. ft. and $1.5- million. “They want to look and see the quality of the finishes,” says Mary Liolios, Tribute’s vice-president of sales and marketing. “So we furnished them, so that way when people come in, you have that wow factor.”

What else adds to a penthouse’s “wow factor?” As expected, location is a big selling point, says Veronika Belovich, director of sales and marketing for Bazis. The developer released a collection of penthouses in October at its Exhibit project, with co-developers Metropia and Plaza; they start at 884 sq. ft. and $850,000. With a Bloor and Avenue address, location is a large draw for Exhibit, especially when it comes to the penthouse buyers. But that’s just one part of the package. “The views are spectacular — and there’s a university in front of us, so the views are going to be protected,” Ms. Belovich adds.

The amenities can also make a difference. Take Thompson Residences, — a King West project by Freed Developments Corp. A variety of penthouses there start at 746 sq. ft. and $639,900, and are appealing largely to young professionals. The lifestyle is part of the sales pitch for the penthouses. After all, the site will offer hotel services from the nearby Thompson Hotel, such as housekeeping, catering, in-room spa services and valet parking. “It’s a real luxury lifestyle,” says Peter Freed, president of Freed.

And at the end of the day, that’s what it all comes down to. Because the location, views, finishes and layouts add up to more than just a house in the sky. Together, they create a lifestyle like no other.

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Contact the Jeffrey Team for more information – 416-388-1960

Laurin & Natalie Jeffrey are Toronto Realtors with Century 21 Regal Realty.
They did not write these articles, they just reproduce them here for people
who are interested in Toronto real estate. They do not work for any builders.
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18 clairtrell penthouse

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