St Kilda penthouse in Ritz Mansions seeks $4.6m

The crown jewel of Ritz Mansions in St Kilda, a 500sq m penthouse with sweeping city and bay views, is on the market for $4.2m–$4.6m.

A landmark St Kilda penthouse with almost 500sq m of living space and some of Melbourne’s most spectacular views has hit the market with a $4.2m-$4.6m price tag.

It comes as prestige buyers increasingly look to house-sized apartments across Melbourne’s inner suburbs, with Ritz Mansions at 171 Fitzroy St standing out as one of the most significant offerings of the year.

The four-bedroom, three-bathroom residence crowns the heritage-listed building constructed in 1927 by architect Ernest H. Long, with its Interwar Stripped Classical design long recognised as one of St Kilda’s most important landmarks.
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Once home to community radio station 3PBS during the suburb’s bohemian years, the building was restored in 1998 and has since been reimagined as a prestige residential and commercial address.

Today, its heritage lift with copper mesh cage and grand foyers remain intact, adding to the sense of character and rarity.

James Nicolaou Real Estate Port Phillip’s Alejandro Torres of James Nicolaou described the apartment as “the crown jewel of Ritz Mansions”.

“You’re not just buying a penthouse, you’re buying into the history and spirit of St Kilda,” Mr Torres said.

Entertainer’s kitchen with island bench and city outlook, part of the vast Ritz Mansions penthouse.

Expansive living zone with timber floors and wraparound windows framing Melbourne skyline views.

“At close to 500sq m, it has the presence of a New York loft.

“You’ve got multiple living zones, soaring spaces and a rooftop terrace that looks across the city skyline, Albert Park Lake and all the way down the bay to Mount Eliza.”

The penthouse’s mixed-use zoning allows for both commercial and residential use, a rarity in Melbourne’s prestige apartment market and a potential drawcard for entrepreneurs, executives and creative buyers who want to combine business and lifestyle at one address.

Panoramic rooftop terrace captures Melbourne’s skyline, Albert Park Lake and Port Phillip Bay at dusk.

One of three sleek bathrooms in the penthouse, combining contemporary finishes with heritage scale.

Inside, the residence spans multiple levels with polished timber floors, expansive lounge and dining zones, and two kitchens including a large entertainer’s hub with a central island bench.

Every room has an outlook, with even the kitchen framing city views.

The rooftop terrace is the showpiece, offering cinematic panoramas that capture Melbourne’s skyline at dusk, the shimmer of Port Phillip Bay and the greenery of Albert Park.

Nearly 500sqm of light-filled living space gives the apartment the feel of a freestanding home.

Mr Torres said the property had already attracted interest from interstate buyers looking for a Melbourne base.

“We’re seeing enquiry from executives and high-end buyers who travel often and want the lock-up-and-leave convenience of an apartment, but without sacrificing space,” he said.

“It’s incredibly rare to find an apartment of this scale in St Kilda, it’s one of a kind.”

“This is the ultimate blend of lifestyle, history and prestige, it’s not replicable.”

Formal dining area adds to the apartment’s house-like proportions inside Ritz Mansions.

Private rooftop retreat with alfresco dining area and unique outdoor bar overlooking the city.

The property’s history is also part of the attraction.

Ritz Mansions was built at a time when St Kilda was shifting from a suburb of sprawling mansions to Melbourne’s most densely populated precinct, and was marketed as a “mansion flat” offering hotel-style services from the neighbouring Ritz Hotel.

Its scale and inclusion of a passenger lift — an uncommon luxury in the 1920s — gave it a cosmopolitan edge that mirrored the suburb’s reputation as Melbourne’s playground.

Ritz Mansions: A Timeline

Ritz Mansions, built in 1927 in the Interwar Stripped Classical style, has been restored as one of St Kilda’s most significant heritage landmarks.

1927 – Ritz Mansions built to designs by architect Ernest H. Long, in the Interwar Stripped Classical style. Marketed as luxury “mansion flats” with meals provided by the neighbouring Ritz Hotel.

1930s – Known as one of St Kilda’s most prestigious addresses, featuring modern conveniences like central heating, telephones and a passenger lift.

1959 – Architectural photographer Wolfgang Sievers captures the building in a striking black-and-white image, now held in the National Library.

1970s-1990s – Converted into commercial offices. Community radio station 3PBS operates from the building in its “dark and dilapidated digs,” cementing its place in Melbourne’s countercultural history.

1998 – Major restoration by RBA Architects saves the building from decline. Heritage lift restored, foyers preserved, spaces converted back into apartments.

Today – A prestige residential and commercial address. Its penthouse, nearly 500sqm, is described as the “crown jewel of Ritz Mansions.”

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david.bonaddio@news.com.au

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