By Lisa Keys for the NY Times

A few years ago, developers created amenities to make their buildings stand out from the pack. Buyers returned the favor, rushing to the newest building with the latest gimmick and snapping up apartments as fast as they became available.

Sorting out what’s important Kelly Wines did not need a pet spa for her dog, Chloe, but she did want outdoor space and a chef’s kitchen.

Many of those people are now living in buildings with pet spas, basketball courts, screening rooms and the occasional climbing wall.

But now developers are waving white flags, trading in outré amenities for well-executed must-haves and quality construction. “Absolutely, it’s back to basics,” said Harry Dubin, director of sales and marketing at the Athena Group, a developer based in Manhattan whose recent projects include the A Condominiums in Jersey City.

Buyers, too, are becoming increasingly wary, developers and marketers say. Manhattan condominiums now cost, on average, $1,178 a square foot, according to a recent report by the Miller Samuel appraisal company for Prudential Douglas Elliman, and many buyers are hesitant to spend a lot of money on extras. And with one eye on the resale market, they don’t want expenses that drive up monthly common charges.

click here for the complete story

Popularity: 9% [?]