Why Do Apartments on Higher Floors Cost More?

July 14, 2015 — Even if you live in a five- or six-story building rather than in a super-tall luxury high-rise, there are perks you get on the top floor that you don't on the lower floors. For starters, even if your neighbors frequent the roof lots, you don't have to deal with stomping at all hours of the day and night — which is nice. You tend to get better views and lighting, too. This is why maintenance fees and common charges are typically higher for people who live on higher floors. One co-op shareholder in the Upper West Side asks Ronda Kaysen why in this week's Ask Real Estate column in The New York Times: "Does an apartment owner on the 10th floor use more services than someone living directly below her?" When a building is set up as a co-op or a condominium, Kaysen explains, "the developer has to allocate the shares or common interests in a way that is marketable and makes sense, varying the maintenance or common charges throughout the building." She adds that while residents living in units on higher floors might use more services than those on lower floors, it isn't the reason they pay more. Living higher up, says Kaysen, is considered an amenity. Nice views and sunny rooms do come at a premium in the big city.