It's hard to compare $1000 per sq foot of penthouse here with $1000 sqf in a luxury condo.
Here you are getting the most amazing view with floor to glass windows spanning your unit. 10' ceilings and equivalent finishes to the four seasons (according to the sales centre). Plus you're getting a stunning private rooftop terrace and a sun room. Compared to the same price in an ultra luxury condo where you'll be getting none of that but will be living in a building where likely none of the units are under a million dollars and the services and ammenities show for that with a fancy valet etc. It's really hard to compare...I guess you justify it based on your preference. Nicer unit (based on the ammount of glass and view, awesome terrace and sunroom) vs. being in a more upscale building.
Great point. Some people feel that when spending that kind of money they only want to associate with those that also can afford such prices. They would opt for the luxury condo. Then there are those who like to be the big fish in the small pond. They love living in the penthouse suite in a building with mediocre finishes.
My question is which is better for resale? I would think it would be the luxury condo. But I have no facts to back it up. Thoughts?