A woman who fell from a fourth-storey window onto concrete is in a serious but stable condition in hospital after surgery.

Neighbours said the 25-year-old woman appeared to be ''extremely intoxicated'' when she fell from lodge accommodation on Kellett Way, Potts Point, before 7am on Saturday.

Traumatic injuries: The woman, who fell from the window at top left, has undergone surgery at St Vincent's Hospital. Credit:Ben Rushton

''I heard shouting then the bang as she hit the ground, so I went down there and called the ambulance,'' said a neighbour who did not wish to be named.

''She was extremely intoxicated, and she was thrashing around trying to get up.