Waldorf Astoria Residences Launches in St. Petersburg

News Summary

The Waldorf Astoria Residences, a luxury condominium project in St. Petersburg, is set to transform the city’s skyline. Sales for the 50-story building have launched, offering 163 upscale units starting at $2.5 million. This ambitious $500 million development includes a mix of residential, office, and retail space, aiming to attract affluent buyers and elevate St. Petersburg’s real estate market. The project is backed by Property Markets Group and is expected to begin construction by fall 2025, pending regulatory approvals.

St. Petersburg is set to see a significant transformation in its skyline as sales have officially launched for the Waldorf Astoria Residences, a new condominium tower that will become the tallest building in the city. This ambitious project will rise to 50 stories, featuring 163 luxury residences. Pricing for these condominiums starts at $2.5 million, making it a notable addition to the upscale real estate market in St. Petersburg.

The development is a joint effort among Property Markets Group (PMG), Feldman Equities, and City Office REIT, with Smith & Associates Real Estate managing the sales process. The tower will be located at 100 2nd Avenue South, where it will replace an existing parking garage.

The Waldorf Astoria Residences will comprise a mix of units ranging from 2,031 to 3,408 square feet, appealing to affluent buyers seeking space and luxury in the heart of downtown. The total development cost is estimated to be around $500 million, which includes plans for 73,000 square feet of Class A office space and approximately 10,000 square feet of retail space. Designed by Cube3, the interiors of the building are curated by the design firm Bamo.

Luxury Amenities and Services

The residents of the Waldorf Astoria Residences will benefit from a host of high-end amenities and services. Each unit will include private outdoor terraces, custom closets, and top-of-the-line appliances. Building amenities will feature a two-story penthouse equipped with a private pool, a dedicated amenity deck with private massage rooms and saunas, and a fitness studio. A 20,000-square-foot resort-style pool deck will showcase several pools, including an infinity pool, while a captivating 46th-floor sky lounge will offer sunset bar access and outdoor terrace space, enhancing the living experience for its residents.

Regulatory Approvals and Project Timeline

Given its ambitious height and location, the Waldorf Astoria Residences project will require approval from the Federal Aviation Administration due to its proximity to the Albert Whitted Airport. Developers are optimistic about beginning construction ideally by fall 2025, contingent on the sales progress and regulatory hurdles that need to be navigated.

Impact on St. Petersburg’s Real Estate Market

This project is anticipated to be a catalyst for attracting other luxury brands to St. Petersburg, further enhancing the city’s reputation as a hub for upscale living and commercial activity. PMG is currently also working on other Waldorf Astoria-branded condominiums in major markets like Miami and Denver, showcasing their commitment to expanding luxury living options across the country.

As the launch progresses, local buyers and investors will be watching closely to see how the market responds to this significant investment in the urban landscape. The Waldorf Astoria Residences are expected to not only elevate the city’s skyline but also enrich the luxury lifestyle offerings that St. Petersburg can provide to its residents and visitors.

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Additional Resources

• St. Peterising: Waldorf Astoria Residences Launch
• Wikipedia: Skyscraper
• TBB Business: Waldorf Astoria Residences
• Google Search: Waldorf Astoria Residences St Petersburg
• St. Pete Catalyst: Waldorf Astoria Project Update