One of Houston’s upcoming high-rise projects, the St. Regis condominium tower, has listed its final penthouse for $14.5 million, or $3,100 per square foot. This sets a new record for price per square foot in the city’s condo market.
The 4,670-square-foot penthouse is part of a 37-story development at 102 Asbury Street near River Oaks. Developed by Satya, led by Sunny Bathija, the building will feature 90 condos and about 40,000 square feet of amenities. These include a cognac bar on the 20th floor, a pool deck with cabanas, a spa, and a full-building generator to protect against power outages.
According to Douglas Elliman, “the listing boasts the highest price per square foot in the history of Houston condo sales.” Data from the Houston Association of Realtors supports this claim; previous top high-rise listings in Houston ranged from $4.9 million to $7.5 million with prices between $421 and $1,290 per square foot. The previous record was held by The Huntingdon at 2121 Kirby Drive, where a unit sold for just over $1,000 per square foot in June 2024.
Satya’s St. Regis project is among several branded luxury condos planned for Houston as demand grows for vertical living options in Texas’ largest cities. Other projects include Ritz-Carlton developments in The Woodlands and Galleria areas and Auberge condos in Upper Kirby.
The Real Deal recently partnered with BSH to host a panel discussion on this trend at the BSH Experience & Design Center.
Luxury condo development remains challenging in Texas due to financing restrictions; developers cannot use presale deposits for construction costs as they can in many other states. According to DC Partners’ Roberto Contreras IV, elsewhere these deposits can cover up to 30 percent of construction expenses.
Despite these hurdles and Texans’ traditional preference for ranch-style homes over high-rises, recent sales indicate growing interest in luxury condos. For example, Randall Davis Company’s London House opened last year with nearly all units presold. In The Woodlands, Howard Hughes had to temporarily halt sales for its Ritz-Carlton project because demand exceeded expectations—69 percent of units were presold when construction began.
