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New York has always been in a class of its own. Iconic, ever-changing, the city lives up to a long list of superlatives, not the least of which is its status as one of the most expensive cities in the world. While much of America is struggling with plummeting housing markets, sales in New York’s luxury sector remain steady – supply is limited and, bolstered by interest from foreign buyers, new build projects are selling out quickly. The location of luxury is also spreading beyond traditional boundaries as buyers seek out projects with the luxurious amenities that offer an escape from hectic urban life.

Unlike the rest f the United States where foreclosures have reached record highs, sales of luxury condos and co-ops in New York City have remained very consistent. People are buying, and developers in the city are tuned into what clients desire to purchase.

The most popular neighborhoods for high-end deals continue to be the West Village, SoHo and Tribeca, as well as the uptown areas of the “Gold Coast” of the Upper East Side – East 62nd to East 77th Streets – and the Upper West Side. However, other neighborhoods are starting to get attention from buyers, including West Chelsea, 57th Street and areas of Brooklyn such as Williamsburg and parts of Park Slope, Dumbo, and occasionally Brooklyn Heights.

While location continues to be a central factor for buyers, today’s clientele increasingly value amenities and lifestyle. Boisson Aries says that luxury residential buyers are increasingly craving a sanctuary where they can escape and feel a sense of personal space. “Most buyers are looking for homes where they can retreat from the busyness of the world to the intimacy and privacy of the home.”

The boroughs have also caught on to what buyers in New York want, and now buildings in parts of Brooklyn and Queens offer facilities that once was mainly available in Manhattan. The edge is one of these buildings, located in the hip Williamsburg neighborhood in Brooklyn. It has 565 units ranging from studios to three-bedrooms. Duplexes and penthouses are also available. “We have the best location in Williamsburg, with unobstructed views,” says Highlyann Krasnow, Partner at MNS, the exclusive sales and marketing firm of the Edge. “And it has one of the largest amenities packages in New York City.” Residents can enjoy 3,716 sq m of facilities including private screening rooms, a movement studio, virtual golf, a basketball court and an indoor/outdoor swimming pool. An additional bonus to buyers is that the building has 25 year tax abatement. The Edge is now 75 percent sold – reportedly one of the fastest selling buildings in New York City.

Since sales have been steady, New York City realtors catering to the residential luxury market are optimistic about what the future holds, in particular for properties that supply the right amenities. “It’s great. New York remains one of the most important cities in the world. Politically and economically we are stable and the next wave of development has understood this,” says Boisson Aries. “A buyer will pay more for amenity and luxury. I’m very bullish on what the future brings New York.”