The Manhattan luxury market was red hot for the week ending March 8. High-end buyers purchased 43 properties, at $4 million and above, in a week, according to the Olshan Luxury Market Report. The contract signings totaled 11 more than the prior week.
The report reveals this is the largest total since the week of May 19-25, 2025—when 55 contracts were signed.
“March is the start of spring season and it’s often a big month when it comes to luxury,” Donna Olshan, president of Olshan Realty, tells Realtor.com®. “We are turning the corner on cold weather and hitting high selling season in New York.”
Condominiums led the way, outselling co-ops. The No. 1 contract for the week was a unit at 50 West 66th Street, 53N. It had an asking price of $35 million.
“50 West 66th Street has sold well because it is in a prime location and many of the units have Central Park views,” says Olshan. “It also has robust amenities including indoor and outdoor pools and a pickleball court. The developer, Extell, is known for building great amenities.”
The building has 50,000 square feet of amenity space and will have 124 “ultra luxury” homes ranging from two bedrooms to full floors.
This 53N property is a tower residence with nearly 5,000 square feet, four bedrooms, 5.5 baths with a 286 square foot private loggia (covered, open-sided outdoor balcony) with sweeping views of Central Park and the Hudson River.
The residence comes with top of the line finishes including Meile and Subzero appliances, 12-inch oak flooring, and ceiling heights of more than 14 feet high.
Bathrooms have marble baths, generous closet space, and a vented washer and dryer in the home.
Branded residences
Two properties at The Waldorf Towers make up the second highest sale for the week. Units 2803 and 2805 at 303 Park Ave. have an asking price of $29.75 million. This property is a combination of two units that will be put together by the sponsor.
The finished residence will have 4,717 square feet of living space with five bedrooms and seven bathrooms, and a terrace that totals 1,339 square feet.
The Waldorf Tower Condominiums have their own private entrance, separate from the Waldorf Astoria Hotel. There are 372 units with their own staff (concierge, doorman, and valet). Residents will have access to 50,000 square feet of dedicated amenities on the 25th to 27th floors, which are separate from the hotel. (The hotel has 375 guest rooms with its own amenities.)
The condo will have access to a fitness center, spa, 25-meter pool, a terrace with two outdoor kitchens, private dining room, game room, children’s playroom, and a screen and stage theater.
Waldorf residents will also have perks similar to staying as a guest of the hotel, such as signing privileges (restaurants, bar tabs) and preferred access to hotel venues, restaurants, and spas.
The Olshan Report states 54 out of 372 units have closed, averaging $3,289 per square foot.
“Sales in the Waldorf Tower Condominium are just starting to pick up. It took eight years and billions for the hotel to get completed and opened before the sales in the condos picked up,” Olshan says.
“The Waldorf is owned by a state-run Chinese government entity that has now decided to sell the hotel portion (not the condos) which may help the optics.”
With the spring selling season just around the corner, Olshan expects luxury sales to continue their momentum.
“New developments continue to lead the way,” Olshan adds. “Nevertheless, only nine of the 43 properties that sold last week were in new developments. The market showed strength through all categories—condos, co-ops, and townhouses.”
