VIEW POINTS

VIEW POINTS

From stratospheric sweeps of light as the sun sets over the Hudson River to hovering over some of city’s most majestic buildings and avenues — nothing beats the chance to own your own personal slice of the sky.

Purchasing a home will likely be one of, if not the most important financial transaction in your life. Location is key — but there is something else that can pretty much guarantee a quick resale: a killer view. Premium views from up-in-the-sky homes generally fetch higher prices, as much as 20 percent more per square foot. But views are also a key component for single-family homes, be they looking out onto postcard-pretty backyards, ocean vistas or expansive golf fairways.

Nevertheless, there is a significant distinction, especially in places like Manhattan, between what can change and what can’t, according to Jonathan J. Miller, president of the New York-based Miller Samuel Real Estate Appraisers & Consultants.

“View protection is key,” says Miller. “And when the housing market experiences a retrenchment, a protected view amenity will always distinguish the unit from others and obviously enhance the unit’s resale value. For example, a unit facing Central Park or the waterfront will likely remain unchanged versus a stunning skyline view that can very well disappear given our city’s ongoing construction of high-rise buildings. Further, a great view will win out over the condition of a unit because condition tends to be more subjective and is within the owner’s control.”

ROOMS WITH A VIEW

Taking up residence on a building’s highest floors was once considered appropriate for the likes of servants, starving artists and squatters. But in the early 1920s, when elevators became a common feature of apartment houses, cereal heiress Marjorie Merriweather Post Hutton commissioned Manhattan’s first penthouse not long after she married stockbroker E.F. Hutton — a 54-room triplex atop 1107 Fifth Avenue at 92nd Street. It comes as no surprise that Merriweather Post Hut-ton’s triplex with unrivalled views of Central Park had its very own private driveway and a ground floor apartment for her personal concierge. The sprawling co-op also feature a formal dining room large enough to entertain more than 100 guests, a bakery, a silver room, cold-storage rooms for flowers and furs, and an indoor swimming pool. (Incidentally, she also owned Mar-a-Lago in Palm Beach, Fla. Deemed a National Historic Landmark in 1980, Donald J. Trump purchased the 20-acre estate in 1985.)

Varying from sprawling simplexes to triplex treasures, the supply of swanky high-floor apartments is scarce because there is just so much space to be had on the topmost floors of apartment buildings. Even in a slow market, view-infused aeries are in great demand — particularly those with scads of private outdoor square-footage — and they tend to sell (and resell) at a fast clip.

Often designed as half- or full-floor residences, smart developers are inclined to sweeten the deal when it comes to incentivizing a potential penthouse purchase with exclusive tricked-out amenities, A few examples: private elevators that open up to elegant entry foyers, dou-
ble-height ceilings; top-to-bottom glass walls; staff quarters; his-and-hers master bathrooms with radiant heat floors; bespoke kitchen appliance packages that likely include built-in espresso makers, warming drawers and roomy butler’s pantries; along with top-brand grills and outdoor fireplaces for the private terraces and roof decks.

Adrienne Albert, the chief executive officer of The Marketing Directors, Inc., the Manhattan-based marketing and sales/ leasing organization, says that while buying real estate in this current housing market may be price driven, the impact of great views — much like the ones you would enjoy at Liberty Luxe & Liberty Green in Battery Park City — on a buyer remains the same. “What makes a great view can vary depending on one’s perspective, but its importance comes through in terms of distinguishing one property from another,” she adds.

Recently, the Marketing Directors added The Sheffield to its marketing and sales roster. On 57th Street close to Eighth Avenue, the building’s new owner, 322 West 57th Owner LLC, is redesigning the Midtown tower’s top two floors, which will result in an assortment of one- to three-bedroom units with floor-to-ceiling windows, ranging from 800 to 2,000 square feet. Although the scenery from the 49th and 50th floor will include expansive views of Central Park, the Hudson and East Rivers and/or the Big Apple’s dazzling skyline, the reality is that view-filled units begin on the 28th floor (full-on park views begin on the 30th floor). Prices for units from the 28th to 50th floors begin at $820,000.

The New York-based DeNiro Group, headed up by Raphael DeNiro, is currently selling a spectacular simplex penthouse
on the 76th floor of the north tower at the Time Warner Center, inside the Residences at Mandarin Oriental, Featuring Manhattan’s highest terrace — and a place Jay-Z once called home to the tune of $60,000 a month – the asking price for this penthouse is $38 million. Coming in at 4,825 square feet with a 700-square-foot terrace, this home will garner feast-for-the-eyes vistas from all four exposures; clear across Central Park to the East River as well as the Hudson River from the George Washington Bridge and all the way down to the Statue of Liberty. DeNiro says, “This particular penthouse is probably one of the best I’ve ever seen. I just can’t think of anything comparable.”

Weighing in on the subject of penthouse allure, DeNiro says that these units tend to sell a bit quicker and adds that sim-plexes lead the way in terms of time on the market. “We’ve done studies for developers and it appears that having all the square footage on one level is preferable,” DeNiro notes. The reasons run the gamut from older buyers who might feel challenged by stairs to young mothers preferring same-floor proximity to children.

Another breath-taking penthouse is at the LEED-registered Laurel on East 67th Street. Developed by the Alexico Group and ready for occupancy, only one penthouse remains unsold. This 4,073-square-foot, four-bedroom beauty on the 31st floor
will let you take in all the city’s sigh-inducing views no matter where you roam along 3,000 square feet of outdoor space made up of a bi-level terrace and a private roof deck with a wood-burning fireplace. Exclusively marketed through the New York-based Sunshine Group Ltd., a division of Corcoran Sunshine Marketing Group, this full-floor home is priced at $12.5 million with a 10-
year, 421-a tax abatement. Also on the Upper East Side, 515 East 72nd Street/Miraval Living Is now selling Tower Residences with private wraparound terraces. Starting on the 32nd floor and ranging from a 1,172-square-foot one-bedroom to an out-sized 2,215-squ a re-foot three-bedroom home, count on getting bird’s-eye views of the East River and its bridges and/or Manhattan’s iconic cityscape. Developed by River Terrace Apartments, LLC, and exclusively sold by Corcoran Sunshine Marketing Group, prices for Tower Residences are from $1.6 million.

If you’re in the market for a place to hang your hat on the
Upper West Side, then take a look at Extell Development Company’s twin-towered Rushmore on Riverside Boulevard, Currently, they are selling ready-to-move-in Tower Residences serving up sweeping views of the Hudson River, the George Washington Bridge, Central Park and the downtown skyline. Check out the top five floors of the Rushmore towers, where
you will find penthouses with wide-open wraparound vistas, Square footage for these three- to five-bedroom units run from 1,712 to 3,072 square feet. Exclusively sold through Corcoran Sunshine, Tower Residences and penthouses start at $3 million with a 10-year 421-a tax abatement.

When it comes to purchasing an individual unit sans a drop-dead view, Miller points out that developments offering view-inspired amenities such as private gardens, swimming pools and roof decks have contributory value in terms of reselling.

In other words, 515 East 72nd Street/Miraval Living’s half-acre garden with a yoga grove or, say, Georgica’s rooftop deck with play area, summer kitchen and bar, and outdoor flat screen TV can certainly add to the overall value of a unit. (Marketed through Corcoran Sun-
shine, the Georgica is on East 85th Street.)

SHORE THING

Long revered as a symbol of wealth and prosperity, waterfront living in the tri-state area is an irresistible and powerful draw, whether along the Hudson River, overlooking the Long Island Sound in Westchester or along Dune Road in Westhampton, The ap-
peal of residing waterside brings great value much in the same way a top-floor apartment does. Demand is high and inventory is somewhat limited for homes in close proximity to Manhattan.

House hunters in search of water-filled scenery just a hop, skip and a jump from the city will find what they’re looking for at Crystal Point along the Gold Coast in Jersey City. Developed
by Fisher Development Associates, Crystal Point was recently awarded the Gold Award for “Community of the Year” from the National Association of Home Builders. And whether you are on the 10th floor or sitting pretty in a penthouse on the 42nd
floor, the views are
nothing short of amazing. In fact, no matter what floor you end up on, you’ll get a water view because the building is only 25 feet from the edge of the Hudson.

With protected views on the north, south and east sides of the development, Crystal Point’s crowning glory is a collection of two-bedroom penthouses on the top three
floors that range in size from 1,369 to 1,817 square feet — most of them featuring private terraces or balconies. Exclusively marketed by the Marketing Directors and ready for occupancy, penthouses start at $1.205 million with a 30-year tax abatement.
Forty-five minutes away, inside Rye, New York’s historic
Knob Hill enclave, a completely rebuilt and restored 1910 Tuscan villa-style home with a 200-feet-long sea wall on Kirby Mill Pond guarantees you a year-round vacation in your own backyard. Set on 1.360 acres along Kirby Lane, the house comes with panoramic views over the Long Island Sound, along with seriously lush gardens, rolling lawns and a private dock. This 10-room, 4,713-square-foot residence is exclusively sold through Julia B. Fee Sotheby’s International Realty. The price is $5.350 million.

For those in search of waterfront experiences in Connecticut, there are unique opportunities to live in style, with stunning views to boot. For example, on a half-acre of land on Captains Drive In Westbrook, a gorgeous Colonial priced at $2.695 million overlooks the Long Island Sound. The 11-room, 6,032-square-foot home’s swimming pool is set along the water’s edge. Another option is on River Road in Essex. For $2.850 million, direct waterfront views of the Lower Connecticut River Valley are paired with a remodeled, 6,200-square-foot contemporary on more than four acres of verdant lawns and gardens with a private dock. Additional exterior pleasures outside the 10-room house include lovely gardens, oversized decks and a private pond. Both homes are exclusively sold through William Pitt Sotheby’s International Realty.

If the idea of a gracious, gated community inspires you, consider Palmer Hill on Havemeyer Lane in Stamford. Surrounded by lush landscaping, townhouses and condominiums are set on acre upon acre of park-like grounds and protected conservation areas. A joint venture between Buckingham Partners, Sun Homes and O’Connor Capital Partners and already a recipient of three prestigious home building industry awards, condos set
inside six-story buildings range from 1,200 to 1,800 square feet and feature French doors leading to patios and gardens, balconies or terraces while the four-story, three-bedroom townhomes (2,334 to 4,000 square feet) open onto flagstone patios and gardens with privacy hedges. Exclusively sold by the Marketing Directors, prices start at $500,000. There are homes ready for moving in, while others can be custom built.

Space, be it inside or outdoor, has always been the height of luxury in New York and its surrounding areas. Over the years, with increased construction and fewer open lots on which to build, visual space also comes at a premium — tempting buyers with full-size window views of another world that belies close proximity to neighbors and bustling city street scenes below.

Olympian views will always fetch a pretty penny. But in the end, the choice of view is as much a personal vision as it is a financial one. An awe-inspiring panoramic sunset, sailboats on the Sound, a flower-filled courtyard — even the perfect privacy of your own backyard — can be the ideal landscape if it is the one that makes you feel most at home.