Virginia K. Smith

From Eloise to Elaine Stritch, hotel living has long been something of a New York tradition. But lately, we've been hearing a lot more than usual about hotel apartments, whether it's the trio of penthouses at the Ritz Carlton on the market for $118 million, the three-floor penthouse at the Pierre Hotel available for $95 million, or Tommy Hilfiger's opulent digs at the Plaza with the, ahem, modest price tag of $80 million. With such eye-popping asking prices, it would seem the world is beating down a door to live with perks like turn-down service, dedicated staff, pools, spas, and all the other amenities that earn high-end hotels their five-star ratings. Particularly for frequent travelers (or anyone else in the market for a pied-a-terre), owning in a hotel can make life far easier than a typical residential building.

A newly renovated townhouse with four bedrooms, three en-suite bathrooms, a washer/dryer, private outdoor space and parking, for slightly under $6,000 a month? Why yes, in Forest Hills, Queens.

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