Location of Apartment Panels

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Grouch1980

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New York, NY
Does the panel for an apartment, say on the 3rd floor of a building, have to be located within the apartment? Can the panel be located in the cellar instead, near the incoming electrical service?
 
Why would you want to run a dozen or so branch circuits from the apartment all the way down to the basement?
 
Why would you want to run a dozen or so branch circuits from the apartment all the way down to the basement?
I agree. I'll be mentioning this to the architect and owner. It's an existing townhouse with 2 apartments that already has the panels in the cellar, and they want to keep that configuration in the new renovation. I'll suggest placing the panels in the actual apartments.
 
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