In this lookbook, we select eight apartments that prove basements are the new penthouses, from an Art Deco flat in Paris to a sci-fi-style hideaway in Madrid.

Even a finished basement might require an investment to turn into a legal apartment—but the potential income might very well be worth it. Smarter Home & Living Never miss a story Lindsey Ellefson ...

Only five of 800 basement apartment owners who expressed interest in a program to legalize those units ultimately participated, city officials said Tuesday. The main reasons were cost and zoning ...