St. Petersburg's most affordable housing option is found within its subway system.
In the vibrant city of St. Petersburg, Russia, the real estate market is seeing a shift, with the most expensive apartment in a new build setting a record-breaking price. According to a report published by Vechorka, citing real estate market specialists, a two-story penthouse at the upcoming Waldorf Astoria Residences is currently priced at an astonishing $27 million.
Located at 150 2nd Avenue South, the Waldorf Astoria Residences is a 50-story luxury-branded skyscraper scheduled for completion around 2030. This penthouse, occupying the 49th and 50th floors, boasts an impressive 11,000 square feet and features a 50-foot rooftop pool offering stunning views of Tampa Bay, a private movie theater, and more. This sale not only sets a new price record for condominiums in the Tampa Bay area but also more than triples the previous St. Petersburg record of $8.25 million from a 2024 Saltaire penthouse.
While the Waldorf Astoria Residences is a testament to luxury living, affordable options are still available for those seeking apartments near metro stations. For instance, the cheapest apartment in this segment is a 26 sq. m. unit in the Kirovsky District, located in a 1967-built building and priced at 4.4 million rubles as of July 2025. This apartment is close to the "Prospect Veteranov" metro station.
Interestingly, the number of such affordable apartments near metro stations in St. Petersburg has decreased by 14.3% over the past year, according to the report. Currently, there are 4275 apartments available on the secondary market within a 10-minute walk from the metro in St. Petersburg.
One-bedroom apartments remain in the highest demand in this segment. However, the most expensive apartment in a new build in St. Petersburg, as well as the number of such properties, remains undisclosed in the report. The Waldorf Astoria Residences, upon completion, will offer 163 condos along with retail and office space managed by Hilton.
As the real estate market in St. Petersburg continues to evolve, it's clear that both luxury and affordability have a place in the city's landscape. Whether you're looking for a cozy apartment near a metro station or a lavish penthouse with breathtaking views, St. Petersburg offers a variety of options to suit every budget and lifestyle.
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- Despite the emergence of luxury properties like the $27 million penthouse at the Waldorf Astoria Residences, there are still affordable housing options available in St. Petersburg, particularly near metro stations.
- The report reveals a decrease of 14.3% in the number of affordable apartments near metro stations in St. Petersburg over the past year, with 4275 apartments currently available on the secondary market within a 10-minute walk from the metro.
