If you have money in Ulaanbaatar these days, life can be good. There is lots and lots of new construction, both commercial and residential. This is one of the new residential constructions. This one is just south of the US embassy, and just a few minutes from the Chinggis Khaan hotel. As you can kind of make out, they are in a walled and gated area. I've not been inside any of them, but the one or two ones I've been in other developments have been quite nice. I do wonder about the construction, though, as this isn't always of the highest quality in Ulaanbaatar.
(I doubt these are condos in the technical sense, but that is what they reminded me of whenever I walked by them.)