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Same Space, Different Place: The Penthouse Premium


On paper, these two apartments at Morton Square, the top-shelf condo where the Olsen twins used to own an entire floor, are exactly alike. Same square footage, same views. In May, 14AW sold for nearly $3 million, and, nine months later, the apartment above it is for sale for almost $350,000 more. Price appreciation alone can’t account for the massive difference— it’s not 2003, after all—so what does? Two words—or, rather, two letters: PH. “Each letter adds 10 percent to the price,” says Prudential Douglas Elliman’s Darren Sukenik, who has the penthouse listing, half-jokingly. “It may be the same floor plan, but it’s not the same feel—at all.” Because PHAW is atop the building (sans terrace), he adds, “it’s decidedly more private house–y, less apartment.”

1 MORTON SQUARE, 14AW
The Facts: Three-bedroom, three-bath, 1,693-square-foot condo.
Asking Price: $2.9 million.
Charges and Taxes: $1,450 per month.
Broker: Darren Sukenik, Prudential Douglas Elliman.


1 MORTON SQUARE, PHAW
The Facts: Three-bedroom, three-bath, 1,693-square-foot condo.
Asking Price: $3.249 million.
Charges and Taxes: $1,450 per month.
Broker: Darren Sukenik, Prudential Douglas Elliman.


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