Many people often confuse the two terms for apartments in Manhattan. A terrace is usually larger than a balcony. Often times it and is on a set-back or some sort of terra firma. In Manhattan they can typically be found on rooftops and are graced with in ground plantings.
Balconies usually jut out from the building facade, is much smaller and usually have a railing surrounding the
area and are much smaller than a terrace.
It is important to note that when you purchase Manhattan apartments fitted with a balcony, if the unit is situated on a high floor, it will obviously provide you with a gorgeous sweeping view, but will often times be too windy for the occupants to utilize it as much as they would like.
On the other hand, an apartment that has a terrace, the railings are usually concrete walls that come high enough and shield the occupants from the unpredictable NYC weather and wind that we typically experience. NYC apartments with their own private terraces will be much more expensive than ones with just a balcony.
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