The woman is said to be 47 years old and sources confirm that she was a Playboy model. The boy is 7-years-old, and police said they are "believed to be mother and son."
She jumped from The Gotham Hotel just after 8:30 a.m. on East 46th Street.
They landed on the second-floor balcony with significant injuries and died.
Sources said the woman has been involved in an ongoing domestic dispute with her estranged husband.
The two checked into the hotel Thursday at approximately 6 p.m. and were assigned to the 25th-floor suite.
A police investigation is underway.