The first month of 2026 witnessed a rebound in luxury home sales in Manhattan following the holiday lull, with 20 property contracts signed at $4 million or more—an increase of seven deals from the previous week—according to the Olshan luxury real estate market report. Total sales exceeded $147 million.
Experts considered the increase seasonal and typical after the holidays, but a decline in supply of about 5% compared to last year was noted. Expectations that wealthy buyers will soon receive their bonuses are also likely to stimulate the market.
The most notable transaction took place at the Steinway Tower (111 West 57th Street), where a residential unit sold for $18.25 million after being reduced from its original price of $21.25 million. The property is considered one of the most distinctive residences on what is known as “Billionaires’ Row.” The iconic building contains 60 residential units, 98% of which have been sold for a total value exceeding $400 million, with only two units remaining.
The sold unit, designed by Studio Sofield, spans 4,492 square feet and includes three bedrooms and 3.5 bathrooms. It features a living room with windows overlooking Central Park and a luxurious primary suite offering panoramic views of the city. The kitchen is equipped with top-of-the-line modern appliances and white quartzite countertops.
The building offers luxury amenities such as a full-service concierge, a fitness center, an 82-foot swimming pool, treatment rooms, and a sauna, in addition to a terrace, private dining room, padel court, and a golf simulator. Steinway Tower is distinguished as the world’s thinnest skyscraper, with a facade measuring just 60 feet at its narrowest point. Manhattan continues to attract the wealthy as a global hub for real estate investors.
