It's the drop-dead gorgeous views of the city's visual expanses of steel, brick and glass from No. 714's concrete veranda, though, that will really take your breath away.

Each of the 60 condos at Piatt Place comes with a private balcony. This one stretches 80 feet, offering visitors not just a bird's-eye view of the towering stone spires of Trinity Cathedral and First Presbyterian Church's vermilion-edged roof, but also Citizens Bank and PNC and One Oliver plazas.

"It's very New York," says Lucas Piatt, executive vice president of developer Millcraft Industries, which is offering the five-bedroom, 41/2-bath penthouse unit for $1.5 million, with a condo fee of 22 cents per square foot (about $1,000 per month). A spiral staircase on the 8-foot-wide balcony climbs to a private 288-square-foot rooftop patio with 360-degree views of the city.

Nine structures, including the Farmers' Deposit Bank and White Dog Cafe, were demolished in 1997 to make way for a Lazarus department store at Fifth Avenue and Wood Street. The store closed in 2004, and Millcraft purchased the building from Federated Department Stores for $8.5 million in 2006. Millcraft has spent $65 million transforming the Lazarus-Macy's building into condos, office and retail space.

Piatt Place's are spread among three floors built on top of the four-story property. No. 714 originally was designed as three individual units overlooking Oliver Avenue and Smithfield Street and ranging from 1,240 to 1,679 square feet. A project this grand, though, calls for at least one grand dame-sized residence. So Millcraft decided to combine them to create one palatial penthouse.

Designed to make the most of its above-the-roofs location, the design-ready condo is an airy marriage of glass and light. The main living space is so open, thanks to a wall of windows, that you can see clear across Oliver Avenue to the Duquesne Club on Sixth Avenue. In addition, every room has a skylight, including the powder and laundry rooms by the front door.

The gourmet kitchen is a vision in white, with creamy Calcutta marble countertops studded with delicate gray veining, a white subway-tile backsplash and custom maple/white walnut cabinetry. A large center island holds a stainless bar sink and wine and beverage cooler. There's also double-wall ovens, a French door refrigerator and electric cooktop. A large pantry stores supplies out of view, maintaining the kitchen's sleek lines and clean look.

Not that it isn't also cozy: A brown-and-white striped corner banquette offers a quiet nook for casual meals while the adjoining family room is warmed with a Heat-n-Glo fireplace.

The master bedroom, made private by a set of 8-foot pocket doors, is on the small side but has a private balcony facing Oliver Avenue and enormous his-and-her walk-in closets. Equally luxurious is the master bath. Meant to pamper the eyes as much as the body, it combines white Carrara marble floors with Calcutta marble countertops and cocoa-brown walnut cabinetry. A jetted platform tub allows for soaking while a glass walk-in shower outfitted with a rainfall showerhead and Kohler WaterTile bodysprays deliver a powerful (and cleansing) hydrotherapy experience. Two water tanks mean you are never without hot water.

Completing the condo are four more bedrooms with mirrored closet doors, including one with floor-to-ceiling views of the Omni William Penn and the Park Building's row of spectacular crouching male figures, called telemones, supporting the ornamental cornice at the roofline.

"These are architectural details you don't see from the street," says Mr. Piatt.

The penthouse also features a den off the front hall with a walk-in storage area and glass transom window to an adjoining entertainment room with a wet bar, and a full laundry with Bosch front-loading washer and dryer.

The Cultural District is only a few blocks away, so entertainment options are unlimited; just grab a coat and go. But if you'd rather stay in, The Capital Grille and McCormick & Schmick's offer room service with a discount, and residents can order groceries for delivery through Right by Nature in the Strip. Cooks also will appreciate a weekly farmers market just around the corner when the Market Square makeover is completed.

Other amenities include a 24-hour valet, in-door parking, exercise and multipurpose centers and a secured-key entrance and elevator. There's also a common courtyard with barbecue grills. A high-end spa and hair salon will soon be moving in. Residents are eligible for a 10-year tax abatement on city and school property taxes.

"Going condo doesn't mean going back in your lifestyle, but up," says Mr. Piatt. "Everything you want is at one address."

For information on Unit 714 at The Residences at Piatt Place, contact director of sales Mark Jennings at 412-434-1181 or www.piattplace.com.