For years, only a handful
of penthouses were available for First Coast home buyers looking for what some call the nirvana of residential living. But
in the last five years, penthouses have become more prevalent as condo towers have sprung up along the St. Johns River in
downtown Jacksonville, the Intracoastal Waterway and in Jacksonville Beach.
"Penthouse living in Florida was focused in Palm Beach and Miami for many years before it became popular here," said
Phil Pierce, a Realtor with Prudential Network Realty/Atlantic Beach. "Over the last three or four years, the builders here
have been slowly bringing those penthouse standards to the Jacksonville area."
Penthouses are coming up
on their 100th year anniversary in the United States. The first were built in New York City and Chicago in the 1920s most
notably that of Marjorie Merriweather Post, a leading socialite and founder of General Foods Inc. In 1925, Post commissioned
an opulent 54-room triplex apartment on top of a 14-floor building on Fifth Avenue in New York City, complete with a silver
room, a wine room, a cold storage room for furs and flowers, and lavish suites of guestrooms. A private elevator ran down
to the ground floor where a concierge was on-hand to fulfill any need.
At Ocean 932,
a 10-story condo development in Jacksonville Beach, only three units remain unsold -- which includes two penthouse suites
on the 9th and 10th floors.
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While First Coast developers and buyers have yet to reach anything of
that extreme flair, many of the same amenities that Post made a reality in the roaring '20s are part of penthouse living today.
"A penthouse buyer wants the amenities of a million or multi-million dollar home without the upkeep," Pierce said.
"Also, we've got these magnificent views of waterways and the ocean, which are very much part of what drives sales in the
First Coast."
At Ocean 932, a 10-story
condo development in Jacksonville Beach, only three units remain unsold -- which includes two penthouse suites on the ninth
and 10th floors. Both offer views of the ocean and the Intracoastal Waterway to the west. Both penthouses, priced at $1.86
million each, have four bedrooms, four full baths, a gourmet kitchen with double islands, and a two-car garage with controlled
access to the penthouse floors. In total, each is about 3,300 square feet in size, with nearly 750 square feet of outdoor
terraces.
"The views are fantastic," Pierce said. "There are only a few developments that offer a vista like this."
A few miles away, at the
Intracoastal Waterway and Butler Boulevard, the 56-unit phase I of Marina San Pablo has sold out already -- including the
eight penthouses that take up the top two stories of the 10-story building. Prices for six of nine remaining penthouses that
will be part of Phase II, a 57-unit condo tower that goes under construction this month, range from $925,000 (for a two-bedroom
penthouse) to $2.5 million.
"Of all the units in a condo
development, penthouses are the priciest, but they also hold their value better," said Michelle Mousin, sales manager for
Marina San Pablo. "The corner penthouses are typically the most desirable because of the panoramic views."
Mousin said the units also
come with more amenities, including 11-foot ceilings, heavier use of crown molding and other architectural details, custom
stone molding in the master bath tub and shower areas, travertine flooring and larger square footage, which ranges from 1,700
to 4,145.
"Typically, penthouse buyers
may be downsizing from a large home and penthouses offer more square footage for larger furniture and storage," Mousin said.
Larry Movovitz, who purchased
a ninth-floor penthouse in Phase I of Marina San Pablo, soon will make the move from his home in Epping Forest in San Jose.
As the owner of Produce
Distribution Center, which has a location at the beaches and on the west side of town, San Pablo's location will eliminate
one of Movovitz's longer commutes to the office. He had owned a second home in Ponte Vedra and sold it about a year ago because
of the upkeep associated with it.
"The penthouse view is tremendous,
and I'll have a large 750-foot balcony where we can watch the sun come up in the morning and the sun go down in the evening,
so it's really the best of both worlds," Movovitz said. "Also, there are so many golf courses to play in the area, more restaurants
to choose from, and it's located near Mayo Clinic, so from a location standpoint it is just outstanding. From the yacht club
to the scenery, it just offers a great quality of life."
At the 12-story
condominium development Costa Verano along Jacksonville Beach, only one of two penthouses remains available -- a 4,640-square-foot,
four-bedroom and 4.5-bath unit priced at $3.2 million.
Jonathan Young with Young
Brothers Real Estate said most penthouse buyers are more sophisticated than they used to be when it comes to the amenities
they want.
"Many already have done
a lot of research on the Internet to find out what you have to offer before they arrive at the unit or the management office,"
Young said. "While the views are important, these are buyers who expect a higher level of quality on even the most standard
penthouse features."
Away from the beaches near
San Marco, the 37-story Peninsula condominium tower offers the same level of penthouse living while featuring panoramic views
of the St. Johns River and the Jacksonville skyline.
Of the 234 units, the four
penthouses, ranging from 3,400 square feet to 4,200 square feet, already have been sold. At the time of sale, prices were
between $1.3 million and $1.8 million.
Greg Esterman, vice president
of sales and development for the property, said most Peninsula buyers, including those in the penthouse unit, are drawn by
the proximity to downtown and what urban living will be like at The Peninsula when it opens in 2007.
So while penthouse
living is still relatively new, it has arrived in the First Coast -- and many Realtors expect the trend to continue.
"People like the panache
of a penthouse," Pierce said. "The penthouse gives a certain connotation as a glamorous place to live, and the amenities are
among the best developers have to offer."
The dictionary may define
a penthouse as "a structure or dwelling built on the roof of a tall building," but that hardly does justice to the glamorous
associations normally conjured up by the word.
"Literally, and symbolically,
you've reached the top," Pierce said. "For those lucky enough to live in a penthouse, it's quite an accomplishment."
For more about penthouses,
read Jonathan Bell's recent book, Penthouse Living, published by Wiley, 2005.
All information deemed reliable but not guaranteed. 
