Photo Ellie Van Houtte/Town Crier The new penthouse property at 240 Third St. in downtown Los Altos boasts expansive views from the terrace, above. The unit, atop Charles Schwab, below, features espresso-hued walnut floors, bottom, and 3,975 square feet of living space, left.

Realtors are busy, excitement abounds.

They’re hopeful the penthouse on Third will be sold.

It’s comfy and modern, spacious and bold.

The new kid on the block is ready to rock.

’Tis the day after Christmas and all through the town

Realtors are busy, excitement abounds.

They’re hopeful the penthouse on Third will be sold.

It’s comfy and modern, spacious and bold.

The new kid on the block is ready to rock.

“There’s nothing like it in Los Altos and there won’t be anything like it,” said Kathy Bridgman, a broker associate with Alain Pinel Realtors, describing the much-anticipated penthouse at 240 Third St.

It is one of two penthouses (the other has been spoken for) on the top floor of a three-story, mixed-use building.

Financed by Los Altos resident Joe Tan of The Tan Group, the building has 20,000 square feet of office and retail space on the first two floors and two floors of underground parking with areas designated for the penthouse owners.

Charles Schwab is the building’s primary tenant.

“You can live above your money” is the oft-heard comment.

“Based on demographics, more people are moving downtown, and downtown Los Altos is becoming more active,” Bridgman said. “This modern luxury residence provides the best of city living.”

And it comes with a view from the terrace of downtown Los Altos and the western hills – not just the Walgreen’s parking lot, which has been the subject of discussion because of the $4 million price tag.

In fact, the terrace is an integral part of the 3,975-square-foot penthouse. Windows and sliding glass doors create the illusion of a glass wall between the terrace and main living area.

“It increases the living space, brings the view indoors and provides natural light,” Bridgman said.

According to Bridgman, everything needed for a luxurious lifestyle has been considered in this ultramodern residence: media room, office, wine storage room and two bedroom suites.

“It could be a primary residence or a pied-à-terre,” she said.

The penthouse is accessed from the lobby or from the gated underground garage via a secure elevator.

When you arrive at the upper foyer, you step onto espresso-hued walnut floors. To your right, through a contemporary horizontal divided-light window, you view Main Street.

A tour at the top

For the curious who want to know what’s behind the massive wood double doors leading to the penthouse, here’s a quick tour.

To the right as you enter is the guest bedroom suite (adjacent to the office), which has a large customized walk-in closet, en-suite bathroom with a dual sink Calacatta Marble vanity, deep tub surrounded in Silestone and mosaic tiles, a large tiled shower and private commode room.

To the left, there is a powder room with mosaic-tiled wall and suspended vanity.

Continuing to the left is the open kitchen, with counter seating and three skylights. Miele stainless-steel appliances include an induction cooktop, two ovens and a speed cook oven, two dishwashers and an espresso center (to match the floors, of course). It is appointed with modern lacquered wood cabinets, many with opaque glass doors and Carrera Marble counters.

The living room and formal dining area, the heart of the penthouse with its glass “wall,” are located opposite the kitchen. A linear gas fireplace in a marble slab creates a focal point on one wall in the living room.

Keep walking and the wine closet (with room for a bistro table and chairs) is to the left, as is the media room, wired for a complete video and audio experience.

At the far end of the penthouse is the master suite. It features two customized walk-in closets, an elevated gas fireplace outlined in marble, whirlpool tub and the works.

In addition, a laundry room adjoins the rear service hall – rubber flooring, abundant cabinetry with sink and laminate countertops. Plus, there’s private access to the recycle and trash room, serviced daily.

“What I like are the clean lines and spaciousness,” Bridgman said. “Contemporary design is becoming more popular than traditional design.”

What’s not to like?

More photos of the penthouse at 240 Third St. here.

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