One of Houston’s upcoming luxury condominium projects, the St. Regis at 102 Asbury Street near River Oaks, has listed its final penthouse for $14.5 million. The 4,670-square-foot unit is priced at $3,100 per square foot, which Douglas Elliman says is the highest price per square foot in Houston condo history.
The St. Regis tower will include 90 condos across 37 stories and offer amenities such as a cognac bar on the 20th floor, a pool deck with cabanas, a spa, and a full-building backup generator designed to address concerns about Texas’ electrical grid reliability.
According to data from the Houston Association of Realtors (HAR), previous records for high-rise condo sales in Houston ranged from $421 to $1,290 per square foot. The top sale was at The Huntingdon on Kirby Drive—a 7,265-square-foot unit that sold for just over $1,000 per square foot in June 2024.
The St. Regis project is part of a trend of branded condominiums entering the Houston market. Other planned developments include two Ritz-Carlton projects—one in the Woodlands and another in the Galleria—as well as Auberge condos coming to Upper Kirby.
The Real Deal recently partnered with BSH to host a panel discussing this trend at the BSH Experience & Design Center.
Texas’ luxury real estate market has traditionally focused on ranch properties rather than vertical living options like condos. Financing these projects can be challenging because Texas does not allow developers to use deposits from presales toward construction costs—a practice permitted in other states where such deposits can account for up to 30 percent of financing needs.
Despite these hurdles, demand appears strong for new luxury condominiums in Houston. For example, Randall Davis Company’s London House opened last year in River Oaks with nearly all units presold. In The Woodlands, Howard Hughes temporarily suspended sales at its Ritz-Carlton project due to high demand; when construction began, more than two-thirds of its units had already been presold.
“Douglas Elliman said the listing boasts the highest price per square foot in the history of Houston condo sales.”
