In a city already brimming with high-end real estate, it’s the newly constructed luxury condos that are drawing the most attention — and the deepest pockets. New York City’s latest market activity shows a surge in contracts signed for premium new developments, with the ultrarich snapping up modern, move-in-ready homes that combine architectural prestige with unmatched amenities.
At the top of the list is Unit 65 at 53 West 53rd St., which recently went under contract with an asking price of $46.8 million — a markdown from its original $51.2 million when it first entered the market about a decade ago. Another high-profile deal followed closely behind: Penthouse 37 at 520 West 28th St., another new construction condo designed by the late Zaha Hadid, securing the second spot among Manhattan’s priciest pending sales.
“For the last 10 years, there have been plenty of good choices in new development for luxury buyers,” said Donna Olshan, president of Olshan Realty, in an interview with Realtor.com®. “As for the global ultrarich, they tend to be attracted to new development because they want something that is immediately available and is new.”
According to the latest Olshan Realty data, 29 contracts were signed in Manhattan last week for properties priced at $4 million and above, totaling more than $286 million in asking price volume. The median asking price was $5.95 million, signaling that luxury demand remains resilient despite market fluctuations.
The condo at 53 West 53rd St. — part of the architectural tower designed by Jean Nouvel beside the Museum of Modern Art — encompasses the entire 65th floor. Described in its listing as “floating atop New York’s iconic skyline,” the residence offers four bedrooms, 4.5 baths, and panoramic exposures in every direction.
Beyond the views, the home’s details reflect pure craftsmanship: a Thierry Despont-designed kitchen for Molteni with statuary marble countertops, back-painted glass cabinetry, and polished nickel fixtures. The layout includes a six-burner cooktop, double wall ovens, a steam oven, dual wine refrigerators, and an integrated coffee maker — all by Miele and Sub-Zero.
Additional features include motorized solar shades, blackout curtains in every bedroom, and a humidified fresh air system — a nod to the modern buyer’s desire for comfort and wellness.
The building itself, just blocks from Central Park, offers resident-only dining, a fitness club, and a private pool, making it a true urban sanctuary.
While Downtown Manhattan remains a favorite for luxury home seekers, the Upper East Side has become one of the most competitive neighborhoods for new development.
“The one area that has seen a lot of new development is the Upper East Side. There are some new projects coming to the market that are very exciting,” Olshan noted.
Among recent contracts, a five-bedroom apartment at 255 East 77th St. went under contract for $10.15 million, with each bedroom offering an en suite bath. Another nearby listing — a four-bedroom, 4.5-bath residence priced at $6.45 million — features amenities including a fitness center, yoga and pilates studios, a squash court, golf simulator, screening room, and even children’s playroom and library.
The 29 signed contracts last week represent a notable increase of six from the previous week, reaffirming Manhattan’s position as a global hub for ultrawealthy real estate investors seeking exclusivity and quality.
Originally reported by Joy Dumandan in Realtor.
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