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Market Update Monday: How High Will Developers Go?

Development News // Mar 28, 2016

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In previous years, if buyers wanted condominiums that boasted high ceilings, choices were limited to penthouses, lofts or prewar apartments. However, with the changing times also come a new development wave that includes higher ceilings for the masses.

“Today, 11-foot ceilings are the new eight-foot ceilings,” notes Izak Senbahar, the President of the Alexico Group.

Unlike bathrooms or living rooms that may not live up to a buyer’s design aesthetic and can be easily remodeled, once a building is constructed it’s difficult to push a ceiling higher. Though higher ceilings often equate to heightened construction costs, developers feel this is money well spent as buyers have a better sense of light and space.

These heightened and more grandiose feeling spaces are also being used as a key marketing tool to set new developments ahead of the pack. With condo projects offering nearly half of buildings with high ceilings, buyers now have the option of living on both higher or lower floors with the added benefit of high ceilings — and it helps sell units on lower floors that sometimes come off as less desirable.