641 5th Ave

Olympic Tower

To live at Olympic Tower is to truly live in the thick of Midtown. Across the street from St. Patrick’s Cathedral and Rockefeller Center, with the prestige of a Fifth Avenue address, this 51-story tower has been a status symbol for foreign businesspeople, movie stars and would-be hobnobbers with enough money ever since it opened in the 1970s. Although the building’s meticulously discreet staff makes celebrity sightings rare. “The hallways don’t have the numbers of the apartments, so they keep it very exclusive,” says Ben Garama, an agent with Corcoran. “You barely see people, so most of the time it’s quiet.” As luxury condos with more amenities have risen around Olympic Tower, its allure and reputation as a pied-a-terre for ostentatious parties has abated. “It used to have a big name, but there are so many new buildings that a lot of people gravitate toward those,” Garama says. But the views through floor-to-ceiling windows on all four facades always impress. “That’s definitely one of the strong suits,” Garama says. “You don’t even have walls between the windows. Everything is completely open.” The first 21 floors are occupied by office tenants, which include the NBA, and luxury retail stores on the ground floor. Above these spaces, the building is composed mostly of two bedrooms and one bedrooms. Although two bedrooms range widely from 1,200 to 1,850 square feet, many share a similar layout with the entrance opening into the kitchen and living room, and a hallway off the side with bedrooms. One-bedroom units are similarly sized from 1,200 to 1,800 square feet, but the layouts are more varied, with space allocated to things like hallway-length dressing and powder rooms and home office nooks. Three bedrooms are around 2,200 square feet and often have windows on two sides of the building, especially in the larger combination units that go up to 4,000 square feet. Beyond these, other combination and duplex units boast up to eight bathrooms across 9,500 square feet. One such unit, previously owned by a Saudi Arabian arms dealer, had its own in-unit swimming pool, garden and ballroom. Decor schemes can be completely different from one unit to the next, and most are either “fully renovated or unrenovated and in original condition,” Garama says. “It’s one or the other. Literally the apartment needs to be gut renovated, or it’s in turn-key condition.” Unrenovated units can have details from the ‘70s and ‘80s, including carpeting, walls covered in mirrors and colorfully tiled kitchens. Marble bathrooms, although luxurious, can look dated. Units with contemporary finishes can be minimalist or lavish, and their appliances are often replaced as part of each resident’s redecorating plan. Units in Olympic Tower are priced lower than those in newer luxury condos in the neighborhood, but they’re equally or more expensive than ones in slightly younger buildings with more robust amenity packages. Most recently, one bedrooms have ranged from $1.8 million to $2.7 million, two bedrooms from $2.6 million to $5 million, and three bedrooms from $5 million to $15 million. Beyond that, massive combination units are priced up to $34 million. Yet despite not being a terrific bargain, Olympic Tower’s units are still in demand. Compared to buildings on Billionaires’ Row that have between 14% and 19% of their units for sale, and the iconic Plaza Condominium with 20% of units for sale, only 11% of Olympic Tower’s residences are on the market as of 2024. A gym on the 22nd floor may be the only tangible amenity, but the white-glove staff makes life at Olympic Tower convenient for all. As Curbed reported in 2022, staff have been known to run shopping errands and put away groceries inside residents’ fridges. Although according to Garama, the level of service may vary based on personal relationships. “They’re very attentive and if you ask and they like you, they might go above and beyond,” Garama says. “But you can’t just treat them as butlers.” The glamor of storybook New York City is alive and well in central Midtown. Clothing, jewelry and handbag stores line Fifth Avenue north and south of the building, and fine dining options — sushi, steakhouses and French cuisine — are all within a few blocks. Times Square and the theater district are both less than a mile away, and nearby, the Museum of Modern Art is a quieter attraction. Central Park is half a mile north, and in addition to the zoo, Wollman ice skating rink and Hallett nature sanctuary, this end of the park also offers horse-drawn carriage rides. Subway options abound in every direction, with 10 different train lines stopping within half a mile of the building. Nearby, Grand Central Terminal also has Metro-North and Long Island trains for traveling outside of the city. Farther east, FDR Drive offers drivers access to the south end of Manhattan and up north to Harlem and the Bronx.