A new Sea Isle City condominium project is putting a six-figure price on one extra flight of stairs.
Two nearly identical residences at the under-construction Salt & Sand Condominiums on Landis Avenue entered the Cape May County MLS this week carrying asking prices exactly $100,000 apart.
The only obvious difference: one sits on the second floor. The other is marketed as the penthouse.
The second-floor Unit 201 is listed at $1.299 million. The third-floor Unit 301 is priced at $1.399 million — a significant 7.7 percent premium.
On paper, the units are remarkably similar.
Both offer three bedrooms, two bathrooms, elevator access, assigned parking, a private storage locker, outdoor shower access and the same location one block from the beach.
The MLS descriptions diverge in just a few places.
The penthouse listing touts dramatic vaulted ceilings, an elevated living experience and enhanced ocean views.
A visit to the property suggests those views exist, but not in the sweeping, unobstructed sense buyers might associate with an ocean adjacent penthouse.
The premium, then, appears to reflect something developers understand about luxury buyers: Top-floor residences carry cachet.
Whether buyers ultimately agree with that $100,000 premium remains to be seen.
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