Categories: Business NewsConstructionNewsReal Estate & Properties

St. Petersburg’s Record-Breaking $27 Million Penthouse Sale

An artistic rendering of the Waldorf Astoria Residences, the tallest building in St. Petersburg.

News Summary

The real estate market in St. Petersburg has been marked by a historic sale at the Waldorf Astoria Residences, with a penthouse selling for $27 million. This transaction sets a new record for condo sales in the Tampa Bay area, far exceeding the previous record of $11.6 million. The Waldorf Astoria, a luxurious 50-story development near Al Lang Stadium, is set to feature 163 luxury condominium units, and the sold penthouse includes high-end amenities like a 50-foot private pool and smart home technology.

St. Petersburg has achieved a new milestone in the real estate market with the recent sale of a penthouse at the Waldorf Astoria Residences for a record-breaking $27 million. This transaction marks the highest-priced condo sale in the Tampa Bay area, surpassing the previous record of $11.6 million set in 2021 at the Ritz-Carlton Residences in Tampa.

The Waldorf Astoria Residences are being developed near Al Lang Stadium and will become the tallest building in St. Petersburg once completed. The luxurious structure is a massive 50-story, $500 million project that will feature a total of 163 luxury condominium units.

The sold penthouse encompasses an expansive 10,684 square feet over two stories and boasts several high-end amenities, including a 50-foot private pool, a designated private foyer entrance, custom-designed closets, and state-of-the-art smart home technology. The buyer of this lavish unit is identified as a local business leader and a longstanding supporter of the St. Petersburg community.

Building Features and Amenities

Sales for the Waldorf Astoria Residences commenced in April 2025, with condominiums ranging in size from 2,031 to 3,408 square feet and available in two and three-bedroom configurations. The building is designed to offer an array of premium amenities for its residents, which include:

A lounge featuring a bar
A 20,000-square-foot resort-style pool deck and terrace
A wellness center complete with massage rooms and saunas
A gym
Entertainment clubs for kids and teens
A pet spa
A signature restaurant

Residents will also benefit from comprehensive concierge services, valet parking, a doorman, and additional a la carte services. Moreover, the development will include over 73,000 square feet of office space and 10,000 square feet of ground-floor retail. Currently, around 20% of the condominiums have already been sold.

Construction Timeline

Construction on the Waldorf Astoria Residences is expected to kick off in the first or second quarter of 2026, with a projected completion date approximately 30 months thereafter. This development not only highlights the shift towards luxury living options in St. Petersburg but also underscores the city’s growth as a premier residential destination within Florida.

Market Context

The sale of the Waldorf Astoria penthouse reflects an increasing demand for high-end living spaces in St. Petersburg, a trend that has gained momentum in recent years. As the city continues to evolve and attract new residents, projects such as the Waldorf Astoria Residences demonstrate the community’s commitment to providing upscale amenities and modern living arrangements.

The record-setting penthouse sale at the Waldorf Astoria is a significant indicator of the vibrant real estate market in Tampa Bay, setting a new benchmark for luxury condominiums in the region. The price of the penthouse translates to approximately $2,527 per square foot, showcasing the premium nature of this unique offering.