Penthouses–with their panoramic city views, unparalleled finishes and trophy-home cachet–led the pack in high-end buys in 2012.

As mentioned in numerous year-end roundups of the pricey properties that changed hands over the past year, New York City's luxury real estate market outdid itself in 2012, smashing sales records and setting new ones. CityRealty resident NYC building expert Carter B. Horsley references several recent reports highlighting the impressive performance–the number of listings fell significantly from the prior year and 4Q sales totals were the highest in a generation–of the luxury market. One report goes on to say that the “market appears poised for some level of price appreciation in 2013, considering historically low mortgage rates that drive sales, coupled with a chronic shortage of active listings.”

Reasons behind the big-ticket boost include the aforementioned record low inventory, international buyers who favor New York City as an investment destination and high-end sellers hoping to sell before upcoming tax changes take effect. As a result, a steadily-growing number of big ticket buyers have been combing the city for the best trophy properties their vast fortunes could buy. Naturally, penthouses, with their cinematic views and the feeling of being above it all–”the top of the heap,” so to speak–are the logical destination for these fortunes. And developers often invest heavily–even in smaller buildings–in adding standout features and details to penthouses to attract top-ticket buyers.

If the sky’s the limit for your own trophy penthouse, the uber-duplex at Sky Lofts at 145 Hudson Street is currently on the market for $48 million. This high-profile–in more ways than one–7,500 square-foot glass-walled aerie features a wraparound terrace and 360-degree city views with 18-foot ceilings within. The terrace is accessible via sliding glass walls in every room. Another prize sits atop Time Warner Center at 25 Columbus Circle on the Upper West Side. $36 mil gets you panoramic city, park and Hudson River views in the skyline-changing tower. The 4,382-square-foot residence is packed with elegant details like marble trimmed floors with onyx insets, macassar ebony paneled doors, and a 40-foot-long living room. 60 stories above Midtown at 400 Fifth Avenue, a 6+ bedroom penthouse is on the market for $32 million. With unobstructed Chrysler and Empire State Building and bridge views, this home above the Setai offers hotel-style living and amenities like a 3,000 square-foot state-of-the-art fitness center.

If you’re a mere mogul, movie star or mortal without a sultan’s budget, there’s plenty of room for you at the top. A penthouse at 220 Riverside Boulevard, 50 floors above the notable Trump Place with four bedrooms and bridge, river and Statue of Liberty and Central Park views from almost 3,000 square feet of architecturally distinctive living space is on the market for $9.25 million. Downtown at 505 Greenwich Street in SoHo, $6.195 million gets you Penthouse B, with 2,534 square feet of Hudson River and Empire State Building views, 500 square feet of outdoor space and high-tech features to make life easy in one of downtown Manhattan’s most desirable neighborhoods.The penthouse at Chelsea House at 130 West 19th Street, with 3 bedrooms and 2,180 square feet of living space plus two huge terraces and open north and south exposures, is also on the market for $4.5 million.