St. Petersburg, FL — July 22, 2025:
A monumental real estate milestone has been reached in Florida, as a duplex penthouse at the Waldorf Astoria Residences in downtown St. Petersburg has sold for a record-breaking $27 million. This sets a new benchmark for the most expensive condo sale in Tampa Bay history.
A New Icon in Florida’s Skyline
The Waldorf Astoria Residences, a luxury tower developed by Property Markets Group (PMG) and Feldman Equities, is set to become the tallest residential building in St. Petersburg, rising 50 stories and housing approximately 193 units. The project represents the city’s growing appeal to high-net-worth individuals seeking ultra-luxurious urban living.
Sales for the development launched in April 2025, drawing swift interest from buyers nationwide.
Though construction timelines have not been finalized, the Waldorf is poised to transform the skyline with a signature blend of architecture, waterfront views, and five-star amenities.
Inside the $27 Million Penthouse
The record-setting 10,684-square-foot penthouse offers unmatched luxury and privacy, spanning two full floors. Key features include:
- A 50-foot private rooftop pool
- A dedicated private elevator and foyer
- Custom-built walk-in closets
- Fully integrated smart home automation
- A panoramic view of the Tampa Bay waterfront
This residence delivers the epitome of bespoke, resort-style living in the heart of downtown.
Surpassing Previous Records
Prior to this deal, the most expensive condo sale in the Tampa Bay area occurred in 2021, when the Ritz-Carlton Residences in Tampa closed a penthouse for $11.6 million. The Waldorf’s $27 million sale more than doubles that previous record, a sign of surging luxury real estate demand in coastal Florida.
Developer Insight
Kevin Maloney, Founder and CEO of PMG, remarked:
“There’s a real energy in St. Petersburg right now. With a growing demand for elevated, design-driven living in vibrant city settings, this project reflects that momentum.”
PMG, known for developments across New York, Miami, and Los Angeles, has been instrumental in delivering high-rise urban communities that combine elegance with modern design.
Key Highlights
| Feature | Details |
|---|---|
| Penthouse Sale Price | $27 million (Highest in Tampa Bay history) |
| Location | Downtown St. Petersburg, Florida |
| Developer | PMG and Feldman Equities |
| Tower Height | 50 stories |
| Number of Units | 193 luxury residences |
| Penthouse Size | 10,684 sq. ft., Duplex layout |
| Previous Record | $11.6 million (Ritz-Carlton Tampa, 2021) |
| Notable Features | Private pool, smart tech, private foyer, waterfront views |
| Market Impact | Signals rising luxury demand in Tampa Bay and urban Florida |
Why It Matters
This record-breaking sale reflects a larger trend in Florida’s luxury condo market, where urban waterfront destinations like St. Petersburg are becoming magnets for elite buyers. The sale highlights:
- St. Pete’s emergence as a premier residential destination
- Increasing competition with traditional luxury markets like Miami
- Strong interest from out-of-state buyers and investors
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