Sky Homes works with existing building owners to expand their property by providing everything necessary, including the funds, to build a luxury penthouse on the roof of an exisiting building.
The unit is sold, and profits are split among the business and building owners.
This generates upside for the building in terms of increased property value, and free cash to make improvements to any other common space, or to distribute to all shareholders in the building.
The company receives the income from the sale of the unit, and being allowed to use this space to build upon.
We look for large (1500 Sqft+) spaces, in prime neighborhoods. An example would be the South End of Boston, where such a penthouse recently sold for 4MM.
We have partnered with Architects and Contractors to build high end units that blend into the skyline.
Our architects are experts in the permitting process, and understand how to determine the eligibility of each building for expansion.