Sometimes all it takes is one big fish.
The hush-hush ultra-luxury offering from Atlas Capital Group and Zeckendorf Development at 80 Clarkson Street is the first Manhattan condo project to crack a projected sellout of over $2 billion since the infamous Xi from HFZ Capital in 2018.
The two-tower project along the West Side Highway helped push the total sellout for the 10 most expensive condo projects in Manhattan above the $3 billion mark for the first time in the last three years.
That $3 billion serves as a new benchmark shows how far removed the city is from the boomtown years when multiple projects each year would cross the billion-dollar sellout threshold.
After 80 Clarkson, which represents a staggering 63 percent of the total sellout volume of the top 10 condos filed this year, there is not a single project with a projected volume of over $400 million.
Part of the low-key totals may be due to buildings holding back on pricing all of their units. MRR Development’s Malabar Residence at 126 East 57th Street, for example, only has pricing on 38 of its 145 residential units, which explains why the project, which sits on the eastern end of Billionaires’ Row, has a sellout of just over $100 million.
At the same time, top projects in recent years have continued to shrink. Of the top 10 condo filings, half have fewer than 50 units.
The years of dwindling sellouts may be catching up with the city, as multiple development marketing firms are projecting record-low inventory levels heading into 2026.
Details on the 10 most expensive projects that are underway and filed this year can be found below, which The Real Deal analyzed using plans filed with the attorney general and data from New York City.
- 80 Clarkson Street | $2.2B
After years of slicing and dicing its valuable land holdings along the West Side Highway, Atlas Capital Group partnered up with Zeckendorf Development to launch 80 Clarkson, the most expensive project the city has seen in years.
With Baupost as equity partner, Atlas and the Zeckendorfs bought out another developer from the site with a $322 million loan from Blackstone in 2022 before going on to secure the largest residential construction loan in the city since the pandemic, a $985 million construction loan from Cale Street Partners and Farallon Capital Management.
All of that financing has helped build out some of the most expensive units in Downtown Manhattan, including an $80 million penthouse that spans over 7,000 square feet.
But time will tell if all the investment has paid off, as the building hasn’t reported a single contract since launching sales earlier this year. Cookfox is designing the building, and an in-house team led by Dan Tubb and Amy Williamson is overseeing sales.
- 400 East 84th Street | $328M
Related Companies has bucked the trend of converting buildings into rentals by instead turning rentals into condos at The Strathmore on 400 East 84th Street on the Upper East Side.
After securing a $100 million refinancing from Tyko Capital on the 48-story building earlier this year, Related set about converting the long-time rental building to capitalize on the growing demand in the Upper East Side.
Pricing is running relatively affordable for the area, with one bedrooms starting at $1.1 million and the most expensive four-bedroom units topping out around $5.5 million.
The 144-unit development is being designed by Tony Ingrao and Corcoran Sunshine Marketing Group launched sales in October.
- 142 West 21st Street | $170M
Yiannes Einhorn’s Grid Group is turning a former two-story parking garage in Chelsea into a high-end condo building at 142 West 21st Street. It bought the site for $31 million in 2021.
Designed by BKSK Architects, the development, called The Myles, features 16 parking spaces for its 22 units. The priciest condo is the 13th-floor five-bedroom penthouse with a private rooftop spa pool, going for $17 million.
Nicole Hechter and Masayo Hashimoto of Corcoran Sunshine Marketing Group are leading sales and marketing for the project.
- 201 East 23rd Street | $164M
After claiming the top two spots in last year’s top condo filing list, Naftali Group came in fourth this year with its project The Willow at 201 East 23rd Street in Kips Bay.
In 2023, Naftali paid $21.5 million to lease the site for 99 years from Snake River Development, an entity of BNS Real Estate. Designed by Cookfox, the 19-story brick facade will have 69 units, a private courtyard, rooftop terrace, fitness center and screening room.
Alexa Lambert and Compass New Development Marketing launched sales in April and closings are expected to begin next year. The building is more than halfway sold, according to Marketproof.
- 133 East 55th Street | $132M
A joint venture from Rybak Development and BK Developers is developing a 20-story condo building on the corners of Lexington Avenue and 55th Street.
The team purchased the site for $24 million in 2021 and secured a $52 million construction loan from Emerald Creek Capital last year. The project will house 31 condos and include amenities like a spa complex, fitness center, and outdoor rec area.
Prices range from just under $2 million for a one-bedroom to over $10 million for a three-bedroom penthouse.
Zproekt Architecture is designing the building and sales do not appear to have launched yet.
- 350 East 18th Street | $116M
A joint venture from Israeli-based Minrav Development and NYC-based T&E 1 Development is developing a 54-unit condo project in Gramercy.
The developers picked up the site for $28.5 million in 2020 and secured a $63 million construction from Northwind Group in 2024.
Designed by ARC Architecture + Design Studio, the building will include 18 parking spaces, a full-time doorman, gym and rooftop terrace. Prices start at under $2 million for a one-bedroom and up to $6 million for a three-bedroom penthouse, which is one of the 14 units in contract at the building, according to Marketproof.
John Gomes and Fredrik Eklund of the Eklund Gomes Team and Douglas Elliman Development Marketing launched sales this fall.
- 24-28 West 9th Street | $115M
Ophir Sternberg’s Lionheart Capital is turning a pre-war apartment building into 45 luxury condos on a coveted stretch of Greenwich Village.
Sternberg bought the property for $41.5 million in 2022 and Stonehill Taylor designed the conversion of the 1923 building.
Prices range from just under $2 million for a one-bedroom to over $5 million for a three-bedroom penthouse with 1,270 square feet of outdoor space. Shlomi Reuveni’s Reuveni Development Marketing launched sales this fall.
- 126 East 57th Street | $111M
A development triumvirate led by Rotem Rosen is developing the newest Billionaires’ Row entrant, the Malabar Residences.
In 2019, Rosen, Israeli developer Zahi Hagag and Indian billionaire Anand Mahindra’s dropped almost $104 million cash on a 13-parcel assemblage. The developers then secured a $170 million construction loan from Bank OZK in 2022 for their roughly 350-foot-tall project.
The developers have only released pricing for roughly a quarter of the 145 units in the building, and prices range from under $2 million for a one-bedroom to over $12 million for a three-bedroom penthouse. Designed by ODA Architecture, the building includes a fitness center, swimming pool, spa pool, steam room, sauna and indoor half-basketball court.
The project has moved in fits and starts. Rosen’s development firm MRR had to plead with a court not once, but twice, to grant access to a neighboring property in order to continue work on the project.
Earlier this year, the project lost its sales director when Noble Black decamped to Corcoran from Douglas Elliman. Maria Mainieri took over as sales director, according to her website, and is marketing the building along with Douglas Elliman Development Marketing.
- 118 West 13th Street | $92M
Slate Property Group has claim to the smallest development on the list with their project at 118 West 13th Street dubbed The Katherine.
In 2021, Slate bought the site for $22.9 million with private equity partner Avenue Realty Capital and gutted the seven-story building. Incredibly, the 34,000-square-foot property once housed 175 students as a dorm for The New School. BKSK Architects and designer Nate Berkus converted the building into just eight residences starting at just under $10 million.
Seven of the units have already sold since Compass’ Leonard Steinberg launched sales in the spring with Compass Development Marketing. The remaining available condo is the top-floor penthouse, asking over $22 million.
- 114 East 25th Street | $74M
Adellco has already sold through its 20 units at the Armorie after announcing its planned sales launch in February. The trick? Sell them all to one buyer.
The developer bought the commercial building from crowdfunding firm Prodigy Network and Shorewood Real Estate Group for $41.3 million five years ago in order to convert it into condos.
After Corcoran Group’s Hottinger Team started quietly marketing the residential units in the spring, a buyer came forward with an offer to buy them and the building’s commercial space for $71 million. The buyer was a private family office, Adellco founder and CEO Matthew Adell previously told The Real Deal.
Construction is expected to be complete in the first quarter of next year and amenities will include a gym, roof deck and lounge. Andre Kikoski Architecture is designing the building.