In the absence of my long-lost mathematical capability and knowledge of materials science, I resort to weak analogies.
Using cables to link the station and its counterweight to a central hub (and maybe the counterweight would be more useful accommodation, for efficiency) is equivalent to having cables that could lift the structure concerned off the surface of the Earth from a height of a kilometre. In comparison, the tallest suspension bridge in the world has towers less than 300m high, and the bridge deck is not at their base, of course. OTOH, the main cables are at an angle, so the tension in them will be greater. Thus, if the deck is 250m below the tops of the towers, and the angle of the cables at the tower attachment is such that the tension is double what it would be if straight down, then a 500m radius for the space station would be doable using similar technology; maybe a bit more given that there doesn't have to be the same margin for the effects of weather and traffic.
So, I was being a bit pessimistic - it's on the edge, but probably possible.