$18.25 Million Condo in World’s Finest Building Leads Luxury Sales in New York City as Affluent Buyers Return to Market After Holiday Discount
The first full week of 2026 marked a resumption of luxury home purchases in Manhattan after the holiday season slump, led by sales of the city’s highest-rise residences in the world.
In total, the first full week of the new year in the Big Apple saw 20 residential contracts at $4 million and above, according to the Olshan Luxury Market Report. That’s seven more than last week’s shortened New Year’s Eve.
In total, the week’s asking sales price is approximately $147,338,000.
“We are looking at a seasonal increase in the market, which is typical after the Christmas-New Year holidays,” Donna Olshanpresident and real estate agent at Olshan Realty, tells Realtor.com®. “The problem now is that inventory is down—about 5% less than it was last year at this time.”
Olshan notes that many high-net-worth buyers are scheduled to receive their bonuses soon, something that often helps propel the city’s for-sale home market.
The No. 1 building under contract is located inside the iconic Steinway Tower at 111 West 57th St., also known as Billionaires Row, unit 36 came with an asking price of $18.25 million, down from the original listing price of $21.25 million set in June 2016, according to the report.
The sale is currently listed as pending, so it’s unclear if the buyer paid the full asking price.
Listing hosted by Nikki Fieldof Sotheby’s International Realty, whose team took over sales at the property more than a year ago on behalf of the developer.
“At 111 West 57th Street, we are now 98 percent sold with only two residences, having achieved over $400 million in closed sales since Sotheby’s International Realty began exclusive representation in the building,” Field tells Realtor.com. “New York remains the global capital that high-net-worth buyers continue to secure in their real estate portfolios.”
Echoing Olshan, Fields added that the upper end of the Manhattan residential market is strong, driven by a shortage of high-end properties and continued global demand.
“Luxury sales have grown significantly in recent months, underscoring that affluent buyers remain active,” he said.
Designed by the renowned Studio Sofield, the condo offers three bedrooms and 3.5 bathrooms on 4,492 square feet of living space.
The unit’s focal point is its great room, with 14-foot ceilings and floor-to-ceiling windows with “unparalleled, fully focused” views of Central Park, according to the listing description.
Designed by the renowned Studio Sofield, the condo offers three bedrooms and 3.5 bathrooms on 4,492 square feet of living space.
The unit’s focal point is its great room, with 14-foot ceilings and floor-to-ceiling windows with “unparalleled, fully focused” views of Central Park, according to the listing description.
The luxuriously appointed master suite offers equally beautiful views of NYC’s most famous green space. An adjacent walk-in closet leads to a bathroom clad in white onyx accented and accented with a custom, freestanding nickel bathtub, complete with high-end fixtures handcrafted by New York City’s last remaining, PE Guerin.
The corner kitchen comes with a large breakfast nook, custom cabinetry designed by Studio Sofield, crystallo white quartzite countertops and backsplash, and a full suite of Gaggenau appliances, including a gas cooktop with full exhaust hood, steam oven and wine refrigerator.
Amenities within the building include a full-service concierge, fitness center, 82-meter two-lane swimming pool with private cabanas, sauna and treatment rooms, residents’ lounge, terrace, private dining room, padel court and golf simulator.
The Steinway Tower is a 91-story, 60-unit building that is famous for being the world’s smallest building at 60 feet wide at its narrowest point.
Rush Limbaugh’s former residence
Manhattan’s second-highest contract price for the week of Jan. 5-11 was penthouse No. 20 at 1049 Fifth Ave. which once belonged to the late broadcaster. Rush Limbaugh.
The building covering the entire 20th floor of the building came with an asking price of $11. 6 million, down from $11.95 million when it first hit the market in May 2025.Robert Varvaraand Compass, has a unit list.
The 4,661-square-foot house has five bedrooms, 5.5 bathrooms, a den, a media room, and four terraces.
The new owner of this property will get to enjoy stunning views of Central Park and the pool from the penthouse’s living room, which also has a fireplace to keep the space cozy on cold nights.
The condo comes with a third-floor studio and a storage unit, but the Olshan report notes that the condo needs updating, with the listing description describing the property as “a rare and rare canvas.”
The current seller bought it from Limbaugh in 2010 for $11.75 million. The divisive political commentator and longtime host of “The Rush Limbaugh Show” died in 2021 at the age of 70.
The president of Olshan Realty points out that the Steinway Tower and Fifth Avenue condos share a key selling point: unobstructed views of Central Park.
“It’s the ideas that really help sell apartments,” he emphasized.
