When Mark and Sarah first stumbled upon the six story house for sale in a quiet corner of Brooklyn Heights, they were struck by its grandeur. The possibilities seemed endless as they entered the elegant foyer—an entire floor for their children to play, a dedicated home office, a guest suite, and even a rooftop terrace with views stretching across the city. It wasn’t just a house but a vertical village, a unique blend of luxury and practicality. But along with the excitement came a host of questions: How would they maintain such a large property? Was it a good investment in today’s market? And more importantly, who else could afford such an extraordinary home?
Whether found in the bustling heart of a city or tucked into a suburban neighbourhood, six-story houses are rare but highly coveted. Their unique design offers a combination of space, luxury, and the ability to adapt to various lifestyles. This article will reveal what makes six-story homes desirable, what challenges they present, and how these towering properties fit into the current real estate market. Using real-life statistics and market insights, we’ll look at where buyers can find these homes and what they should consider before investing.
The Appeal of Six-Story Homes: Space and Status
Six-story homes offer unparalleled space and flexibility, making them ideal for buyers with large families or those seeking to incorporate multiple functions—like work, entertainment, and living—into a single space. In cities like New York, London, and San Francisco, these properties are often symbols of wealth and status, offering not just extra floors but grandeur rare in crowded urban environments.
According to Zillow’Zillow’sousing trends report, multi-story homes have increased demand in urban centres where land is scarce, but high-net-worth individuals are looking for more space. Six-story homes, in particular, stand out because of their exclusivity. These homes are often part of older, historic buildings, converted from mansions or brownstones, and they frequently come with architectural details like high ceilings, grand staircases, and even elevators.
One of the biggest draws of six-story houses is their ability to separate spaces. Buyers can have designated floors for different purposes: a kitchen and living area on one floor, bedrooms on another, and workspaces on yet another. This sense of separation is harder to achieve in single-story or even two-story homes, particularly in dense urban areas where space is at a premium.
Current Market for Six-Story Houses: Rare and Expensive
Six-story houses are a rare find in the real estate market. According to Realtor.com, less than 1% of homes listed in the United States have five stories or more. Most homes in cities like New York, Los Angeles, and Chicago are historical buildings or luxury properties in prime locations. For instance, six-story homes in Brooklyn or Manhattan can easily reach price tags of $10 million to $30 million, depending on the location, condition, and amenities.
However, buyers in suburban or less densely populated areas may find more affordable options. A six-story home outside major metropolitan areas might be priced between $1 million and $5 million, depending on land size, proximity to urban centres, and the area’s overall real estate market trends. Yet, these homes remain a luxury investment for most buyers.
For those purchasing a six-story house, the price per square foot is significantly higher than that of smaller homes. In New York City, the average cost per square foot for luxury multi-story homes in 2023 is approximately $2,500, according to StreetEasy. The average price per square foot for homes in the U.S. is around $200. These properties’ scarcity and appeal to affluent buyers have caused them to appreciate value consistently, particularly in major cities.
Locations Where Six-Story Homes Are Common
Six-story homes are not ubiquitous; certain cities are known for their towering residences. These properties are most often found in:
- New York City: Six-story brownstones and townhouses are highly sought after, particularly in historic neighborhoods like Brooklyn Heights, Park Slope, and ManhattManhattan’sEast Side. Many of these homes have been preserved from the early 20th century and have ornate architectural features that add to their desirability.
- London: The city’s Georgian and Victorian-era townhouses often stretch upwards of six stories. In areas like Belgravia, Kensington, and Chelsea, multi-story homes with private gardens and rooftop terraces are among the most expensive real estate in the world.
- San Francisco: Known for its steep streets and iconic architecture, San Francisco boasts several multi-story homes, particularly in affluent areas like Pacific Heights and Russian Hill. Many of these homes are renovated Victorian houses designed with multiple levels to maximize views of the Bay.
- Chicago: In neighbourhoods like Lincoln Park and Gold Coast, six-story homes are often converted mansions or townhomes, blending historic charm with modern amenities.
Outside of these cities, six-story homes are rare, although some luxury suburban developments have begun to incorporate vertical designs to cater to wealthy buyers who want both space and privacy while staying close to urban centers.
Challenges of Owning a Six-Story Home
While owning a six-story home is certainly appealing, it comes with its own challenges—primarily maintenance, accessibility, and utility costs.
- Maintenance Costs: Larger homes require more upkeep. HomeAdvisor says the average homeowner spends around $3,000 to $5,000 annually on home maintenance. However, that figure can easily double or triple for a six-story property. The more floors, the more potential for issues with plumbing, electrical systems, and HVAC units.
- Accessibility: One of the biggest challenges for six-story homes, particularly older ones, is the lack of elevators. The home may be difficult for older residents or those with mobility issues to navigate without an elevator. Many buyers opt to install elevators, but this can be costly. On average, installing a residential elevator costs between $25,000 and $50,000 (Source: Fixr).
- Utility Bills: Larger homes naturally consume more energy. According to the U.S. Energy Information Administration (EIA), the average American household spends about $2,000 annually on energy bills. This figure can rise significantly for a multi-story home, especially one with older infrastructure. Heating and cooling six floors can become costly without energy-efficient upgrades.
Renovation Opportunities and Customization Potential
One of the unique benefits of owning a six-story home is the potential for customization. With so much vertical space, homeowners can tailor each floor to fit their lifestyle. Common renovation ideas include:
- Rooftop Terraces: In urban areas, rooftop terraces offer an outdoor escape and can dramatically increase the property’s value. Depending on size and materials, a rooftop deck can cost anywhere from $10,000 to $50,000 (Source: HomeAdvisor).
- Multi-Purpose Floors: Homeowners often convert different floors into specific-use spaces such as gyms, libraries, or entertainment areas. This is a major selling point for families, especially with more people working from home post-pandemic. In fact, Zillow reported that demand for home offices increased by 35% in 2023.
- Basement or Ground-Floor Rental Units: Some homeowners may use the ground floor or basement as a rental unit, generating extra income. This can be a lucrative option in cities like New York and San Francisco, where rental demand is high.
The Investment Potential of Six-Story Homes
From an investment standpoint, six-story homes are a smart choice for buyers who can afford them. These properties tend to appreciate faster than smaller homes, especially in prestigious neighbourhoods. According to Knight Frank’s Frank’s Frank’sFrank sealth Report, the ultra-prime property market (homes over $10 million) grew by 8% globally in 2022, indicating strong demand for luxury real estate.
Due to their rarity and potential for customization, six-story properties are attractive options for buyers looking for both a home and an investment. Many homeowners can resell these properties at a significant profit, especially if they upgrade, such as installing an elevator or renovating the rooftop.
Conclusion: Six-Story Homes as a Rare Opportunity
Six-story homes offer a unique blend of space, luxury, and investment potential that few other properties can match. While ownership costs are high, from maintenance to utilities, the benefits—including ample room for customization, separation of living spaces, and the sheer prestige of owning such a property—are immense. As the demand for larger homes continues to grow, particularly in urban markets, the investment potential of six-story homes remains strong. For those in the market for something more than just a home—a six-story house represents a rare opportunity to own a piece of architectural history while creating a space tailored to modern needs.
