This story doesn’t need much of an introduction. Basically, people are buying mega-large condos, just like they’ve been buying mega-large single-family homes over the past couple of years.
I’m not sure I’d be interested in something like this. If I was in the market, I’d buy a 20,000 square foot home before I’d buy a 20,000 square foot condo. Condos have some benefits, however – you have someone to watch over your property, someone to maintain the common areas, and sometimes lots of amenities you might not get, otherwise.
For more than a decade, McMansions have been a fixture on the American landscape. Now apartments are being supersized, too.
Make way for the McCondo.
On Fisher Island, near Miami, a condo developer is offering penthouses of 20,000 square feet, more than eight times the size of the average single-family house. In a Las Vegas suburb, a custom-home builder is developing high-rise condos topped by 16,000-square-foot apartments. And in New York, some luxury pads now on the market measure over 10,000 square feet, gargantuan by Manhattan standards.
“The question is not ‘What do you need?’ it is ‘What do you want?’ ” said Deborah Grubman, a broker with the Corcoran Group in Manhattan, who is helping to market three 8,360-square-foot co-ops in the converted Stanhope Hotel on Fifth Avenue. “It is a question of ability to buy.”
I don’t agree with others’ definition of “McMansions”. To me a McMansion isn’t just a huge home – it’s a huge home that is indistinguishable from any other building on the block, plus most of the time these types of homes have those big huge windows over the front doorway, with views of the interior staircase.
Complete article: Living Ever Larger: Estates in the Sky – by Motoko Rich, The New York Times