Airbnb Buys Its First Building Ever — In the City That Banned It

9 Jul 2026 1 min read via Skift United StatesAmericas

Airbnb just spent $81.5 million on a six-story building on Park Avenue South in Manhattan. It's the only property the company owns anywhere on the planet.

Here's the funny part. New York City is arguably the toughest market in the world for Airbnb right now. Local Law 18, enforced since 2022, has wiped out the vast majority of short-term rentals across the five boroughs.

The building itself has some pop-culture flair. It's connected to the Netflix show "Inventing Anna."

Why does this matter? Airbnb built its empire on owning zero real estate. That asset-light philosophy is the whole reason it scaled so fast.

Plan it: United States

General guidance from our editors, not from the source. Check before you book.

Best time: April to June and September to early November offer mild weather and thinner crowds than the peak summer and holiday seasons.
Getting there: Fly into JFK, LaGuardia, or Newark; the building is on Park Avenue South in Midtown Manhattan, easily reached by subway or taxi from any of the airports.
Budget: Expect roughly $250–500 per day for a mid-range traveller covering lodging, food, transit, and attractions.

Most international visitors need a US visa or an approved ESTA under the Visa Waiver Program before flying.
The city is expensive: sales tax and tipping (18–20% at restaurants) add up quickly on any budget.
With Local Law 18 sharply limiting short-term rentals, hotels or licensed stays are the most reliable accommodation options.