On Top Of The World On Top Of The World
By Jennifer Martin

Penthouses are a crowning achievement for those successful enough to buy them. They are the penultimate in urban luxury and they're growing more luxurious as the years pass. Here, Unique Homes takes a look at some of the most spectacular penthouses on the market today.

They are the penultimate in urban luxury, the pied-a-terres at the top of the world. Penthouses are a crowning achievement for those successful enough to buy them, and they're growing more luxurious as the years pass. As Realtor Jill Eber of Miami notes, "Penthouse buyers want no less than the best. Their taste is unparalleled." Here, Unique Homes takes a look at some of the most spectacular penthouses on the market today.

Atlanta

John Smart, owner of the $100 million medical records firm Smart Corp., recently placed his Atlanta penthouse on the market for $10.9 million. Designed by the famed Robert Couturier of New York, the four-bedroom residence features exquisite details such as an elegant stucco exterior and interior millwork that was hand-made, on-site, by talented artisans. Grecian columns, fine pottery, delicate chandeliers and sweeping balconies add to the sophisticated atmosphere.

"John and his wife, Pam, are very down-to-earth people, but they have excellent taste," said Realtor Alice McDonough, who represents the Smarts. "The penthouse is not flashy; it's just elegant. There's nothing else like it in Atlanta. This has set a new standard for us."

Pam Smart, a great art-lover, has added color and vibrancy to the interior with a collection that includes Picassos, antique African art and contemporary pieces. "She is not afraid to add something a little offbeat that shows perfectly," McDonough said. "She once ran into a homeless person who was painting on the street, and she loved his art so much that she gave an art show in her home to exhibit his paintings. Then she showed them in a little shop she has. Pam is a very warm-hearted person."


Canada

The Shangri-La is bringing its five-star brand to Toronto, and the prospect of owning property in this super-luxury hotel/condo is already tantalizing buyers worldwide. The property, scheduled for occupancy in 2011, is even adding to its many amenities with a new spa concept called Chi. This health club will offer body and facial therapies based on the ancient healing traditions of China and the Himalayas.

The hotel will occupy the first 17 floors of the $430 million tower. Its guestrooms will be among the most spacious in the city and decorated in a contemporary style with Asian highlights. Announced in February, the project is already more than 50 percent sold. The tower's two penthouses-each a duplex-will lie on the 64th and 65th floors. Each penthouse is priced at about $10 million and encompasses four bedrooms, wraparound terraces and more than 6,600 square feet.

This hotel will be the Shangri-La's second property in Canada. The Shangri-La Vancouver is under construction and will debut in September 2008. Its $15 million penthouse spans 5,890 square feet and includes a rooftop garden.

Like the Shangri-La Toronto, the Vancouver project proved attractive: 75 percent of the building's condominiums sold within 10 days of the initial offering in 2004. The popularity of the Shangri-La projects is likely making developers optimistic that it's only a matter of time before some upscale vacation or business traveler captures the penthouses for his own use.

"The Shangri-La in Vancouver and in Toronto both have ideal locations, and each property will undoubtedly become one of their respective city's leading deluxe hotels," said Ian Gillespie, president of Westbank Projects Corp., the developer of both properties.


Las Vegas

With its multiple towers, breathtaking architecture and rich gallery of high-end retailers, CityCenter promises to transform Las Vegas when it's complete in 2009. At $7 billion, it's the largest privately financed development in North American history. Given the high level of interest from successful buyers worldwide, the developers have been careful to offer multiple penthouse opportunities. The most upscale options are available at The Residences at Mandarin Oriental, an ultra-high-end tower with no less than 42 penthouses. "We felt the demand would be very strong for large, semi-custom penthouse apartments at the Mandarin," said Tony Dennis, CityCenter's residential executive vice president.

The planners were right: In fact, 20 penthouses, and 90 percent of the Mandarin's other 227 residences, have already sold out. The Mandarin offers six floors of penthouses, with seven units per floor ranging from 3,000 to 4,500 (several buyers have combined two penthouses into a single unit). All have floor-to-ceiling windows spanning 30 to 40 feet across and offering glittering views of the Las Vegas Strip vicinity.

For the price-$5 million to $7 million, fully finished-buyers get a residence with two master bedroom suites, top-of-the-line appliances and detailing, and Asian-style design with flexible screens that allow common rooms to be shuttered away for privacy. Of course, the residences also come with full resort amenities from spa, dining and entertainment options to 24-hour room service with gourmet cuisine. As Dennis notes, "The branded service lifestyle is very important to these buyers."

CityCenter will also offer penthouses at Veer Towers, two glass towers leaning in opposite directions (five degrees from center). Designed by renowned architect Helmut Jahn, Veer Towers are designed for buyers who desire more individuality and less "brand experience" with their purchase. The towers will encompass eight penthouses on two floors; they range from 1,800 to 4,000 square feet, and are priced at $2.7 million to $4.6 million. Residents will have a 500,000-square-foot retail development at the base of the towers for their enjoyment and convenience.

The third major penthouse offering at CityCenter lies within The Harmon Hotel and Residences, a hip and upbeat environment with luxurious amenities. "It's designed for the young, worldly buyer who wants an exclusive, club-like environment," Dennis said. Entry to the residences is through a posh and lively hotel lobby with plenty of opportunities to socialize. The tower will contain 15 penthouses on three floors, each unit ranging from 2,000 to 4,000 square feet.


On Top Of The World

Los Angeles

The penthouses at Park Fifth will hold a special place in Los Angeles history. Scheduled for groundbreaking in 2008, the $1 billion project is destined to become the tallest tower west of Chicago, at 76 stories. Penthouse buyers will have unprecedented and panoramic views of the ocean, mountains and glittering city below.

"Kohn Pederson Fox, the architects, designed incredible indoor/outdoor living spaces like nothing ever seen in Los Angeles," said Angus McLoone, Park Fifth director of sales. "The penthouses will have outdoor decks and balcony areas ranging from about 640 to 2,300 square feet. The balconies are oversized on all Park Fifth residences, but penthouse owners in particular will have an enormous range of possibilities for their outdoor living space…outdoor dining and seating areas, gardens and more. KPF has taken the California lifestyle and made it vertical."

The penthouses also will have 20-foot ceilings and floor-to-ceiling windows. They range from 2,300 to 4,700 square feet and are priced between $3.5 million and $10 million. The developers have planned four penthouses atop the East Tower (the taller structure) and six atop the West Tower, which will rise 43 stories.


Miami

It's been called "the finest oceanfront penthouse in America." A residence called The Continuum is for sale at $25 million, and at 7,000 square feet, the tri-level penthouse lives up to its reputation. With 360-degree views and 6,000 square feet of terraces, this South Beach penthouse incorporates everything a sophisticated buyer could want, including the latest techno-gadgets (four plasma TVs, Wifi, and smart house touch panels that control high-end audio, video, auto shades, lighting, security and more).

"To say this is an amazing residence would be an understatement," said Realtor Jill Eber, who represents the sellers. "The Continuum is very dramatic. It combines a contemporary, minimalist look with soaring ceilings and an elegant surrounding of glass to create an immense feeling of space."

A private rooftop swimming pool lies atop this one-of-a-kind sky mansion. The residence is so striking that it was selected as the backdrop for Dreamworks' film "Red Eye" and a major music video.

Eber's firm, The Jills, also represents Il Vilaggio, a $17.7 million penthouse that's designed in elegant light woods, custom furnishings and beautifully detailed millwork. "They didn't miss an inch of this unit," Eber said. "The finishes are just sensational. The openness of the unit, the views, the buildout and the location also make it truly spectacular."

Il Vilaggio encompasses a private rooftop deck with a stainless steel summer kitchen, lounging areas and Jacuzzi. The entire deck overlooks the sparkling Atlantic Ocean.


New York

No penthouse in the world is more luxurious and opulent than Martin Zweig's $70 million triplex that occupies the top floors of the Pierre Hotel. Its Versaille-patterned oak floors, Byzantine-style ceramic tiles and black marble staircase are legendary.

The living room, with its 23-foot-high ceilings and 20-foot French doors, was once the original ballroom at The Pierre. The 11,000-square-foot residence encompasses 16 rooms, including five master bedrooms, seven bathrooms, five fireplaces, a paneled library, wine cellar and four terraces.

"Since its completion in 1920, The Pierre has been recognized worldwide as the ultimate address for affluent visitors to New York," Christie's Great Estates noted in a review of the residence. "The exquisite style of the most enviable penthouse in Manhattan is matched only by the incomparable services of the hotel itself."