Manhattan’s $10 million-plus market remains active, but demand is not moving evenly across every property type. Since the beginning of 2026, the clear leader has been the condominium.
Year to date, Manhattan has recorded 141 condo contracts signed above $10 million, compared with 15 co-op contracts and 19 townhouse contracts. Within the condo category, new development is leading by a wide margin, with 90 contracts signed above $10 million, compared with 51 resale condo contracts.
The takeaway is clear: today’s ultra-luxury buyers are gravitating toward condos first, and especially toward new development. They are prioritizing privacy, service, modern layouts, move-in-ready condition, strong amenities, and flexible ownership. Co-ops continue to appeal to buyers who value classic New York prestige and white-glove discretion, while townhouses remain highly desirable for those seeking privacy, outdoor space, and full control. But the broadest demand above $10 million is happening within the condo segment.
Why New Development Condos Are Leading
For buyers spending eight figures in Manhattan, the building is now as important as the residence itself. The most competitive properties are not simply large or expensive. They are polished, private, well-serviced, and easy to own.
New development condos deliver many of the features today’s $10M+ buyers prioritize: modern floor plans, high-touch service, strong security, wellness amenities, private outdoor space where available, and a more flexible ownership structure than many traditional co-ops.
That flexibility matters. Condos are often more appealing to international buyers, trust buyers, pied-à-terre buyers, and those thinking carefully about long-term resale optionality. At the top of the market, ease of ownership has become part of the luxury.
Six New Development Condos Drawing $10M+ Buyers in 2026*
*Contract signed data from January 1st, 2026 to May 18th, 2026
One High Line, 500 West 18th Street
Photo courtesy of One High Line
One High Line at 500 West 18th Street has recorded 5 contracts above $10 million so far in 2026, led by WEST-PH33B asking $24.6 million.
That level of activity makes it one of the clearest examples of current demand in the luxury downtown condo market, particularly for new development with views, amenities, and a prime West Chelsea location.
Flatiron Building
Photo courtesy of The Flatiron Building
The Flatiron Building conversion has 12 of its 37 residences in contract, totaling approximately $258 million in volume, with the largest reported contract asking $58.5 million.
Its momentum shows the appeal of landmark conversions, where historic architecture is paired with newly created condominium ownership.
50 West 66th Street
Photo courtesy of 55 West 66th Street
50 West 66th Street has 127 residences and was reported as roughly 80% sold in March 2026.
The building speaks directly to what many $10M+ buyers want right now: scale, views, amenities, and a full-service lifestyle near Central Park and Lincoln Center.
1122 Madison Avenue
Photo courtesy of 1122 Madison Avenue
1122 Madison Avenue has 26 residences and has been one of the strongest luxury launches of 2026 (so far), with 22 residences in contract, more than $400 million in total reported sales, and an $89.5 million penthouse contract.
The building reflects the strength of refined Upper East Side new development, where buyers are responding to scale, privacy, service, and a classic residential location.
Waldorf Astoria Residences New York
Photo courtesy of Waldorf Astoria Residences
Waldorf Astoria Residences New York is converting the upper floors of the landmark hotel into luxury condominium residences, with one 2026 contract reaching $29.75 million, the highest reported deal at the building at that time.
For buyers who want a recognizable New York address with the convenience of new condominium ownership, the Waldorf Astoria remains a powerful example.
Sixteen Fifth Avenue
Photo courtesy of Sixteen Fifth Avenue
Sixteen Fifth Avenue has 14 residences, and its PH2 entered contract with a $45 million asking price before closing for $32.5 million.
Its activity reflects continued demand for intimate, design-driven new development in prime downtown locations.
What This Says About Today’s Luxury Buyer
The $10M+ buyer is active, but selective. They are not simply chasing the largest apartment or the highest floor. They are looking for homes that feel rare, finished, private, and easy to own.
That is why new development condos are outperforming. They offer modern layouts, strong service, flexible ownership, and a level of convenience that appeals to both domestic and international luxury buyers.
Co-ops and townhouses remain important parts of Manhattan’s luxury market, but they are more specific. Co-ops continue to represent classic New York prestige, while townhouses offer privacy and control. Condos, however, are capturing the widest demand because they combine luxury, convenience, and flexibility in one package.
The Bottom Line
Right now, Manhattan’s $10 million-plus market is being led by new development condos.
The strongest buildings are not just selling expensive apartments. They are selling privacy, service, design, and ease of ownership. In a market where buyers have become more discerning, the homes performing best are polished, well-positioned, and difficult to replicate.
