New Reporter
12-06-23, 13:03
Four-bedder at Ardmore Park sold for $7.05 mil gain
June 7, 2023
The sale of a unit at luxury condo Ardmore Park was the most profitable condo resale transaction recorded during the week of May 23 to 30. The seller of the four-bedroom, 2,885 sq ft apartment made a profit of $7.05 million after it was sold for $12.9 million ($4,472 psf) on May 29. The unit had been purchased from the developer for $5.85 million ($2,029 psf) in July 1996. Hence, the seller made a 120% profit over a holding period of nearly 27 years. According to a property title search, the buyer of the unit is one Eddy Hartono, an Indonesian who is a Singapore permanent resident.
This is the fourth most profitable resale transaction recorded at Ardmore Park. The most profitable transaction occurred in April 2020 when the seller of a 8,740 sq ft duplex penthouse raked in a profit of $11.65 million after it was sold for $27.65 million ($3,163 psf). The seller had held the unit since January 1998, when they purchased it for $16 million ($1,831 psf).
The second most profitable transaction at Ardmore Park occurred earlier this year in April, when a 2,885 sq ft apartment fetched $13 million ($4,510 psf), with the seller reaping a profit of $8.16 million. The third most profitable transaction was the sale of a 2,885 sq ft unit last November for $12.5 million ($4,333 psf), with the seller netting a $7.75 million gain.
Ardmore Park is a 330-unit, freehold condo located in the prestigious Ardmore Park area in prime District 10. Developed by Wharf Estates Singapore, the former Wheelock Properties, the high-end condo was completed in 2001 and has three 30-storey towers. Typical units at the condo are 2,885 sq ft, four-bedroom apartments but it also has six 8,740 sq ft duplex penthouses. Last July, the development saw a new psf-price high of $4,881 when a four-bedroom apartment changed hands for $14.08 million.
Scotts 28, a condo along Scotts Road in District 9, saw the second most profitable transaction during the week in review. A 1,733 sq ft three-bedder on the eighth floor was sold for $4.3 million ($2,481 psf) on May 26. The seller had bought the unit from the developer in November 1995 for $2.32 million ($1,341 psf). Hence, they made a profit of $1.98 million or a capital gain of 85% over 27½ years.
This is the most profitable resale transaction recorded at Scotts 28 to date. The previous long-held record was set in June 1996, when the sub-sale of a 3,466 sq ft unit for $6.86 million ($1,979 psf) netted the seller a $1.96 million profit. The transaction on May 26 also marks a new psf-price high for the development, surpassing the last high of $2,433 psf registered last August with the sale of a 1,636 sq ft unit for $3.98 million.
More at: https://www.edgeprop.sg/property-news/four-bedder-ardmore-park-sold-705-mil-gain
June 7, 2023
The sale of a unit at luxury condo Ardmore Park was the most profitable condo resale transaction recorded during the week of May 23 to 30. The seller of the four-bedroom, 2,885 sq ft apartment made a profit of $7.05 million after it was sold for $12.9 million ($4,472 psf) on May 29. The unit had been purchased from the developer for $5.85 million ($2,029 psf) in July 1996. Hence, the seller made a 120% profit over a holding period of nearly 27 years. According to a property title search, the buyer of the unit is one Eddy Hartono, an Indonesian who is a Singapore permanent resident.
This is the fourth most profitable resale transaction recorded at Ardmore Park. The most profitable transaction occurred in April 2020 when the seller of a 8,740 sq ft duplex penthouse raked in a profit of $11.65 million after it was sold for $27.65 million ($3,163 psf). The seller had held the unit since January 1998, when they purchased it for $16 million ($1,831 psf).
The second most profitable transaction at Ardmore Park occurred earlier this year in April, when a 2,885 sq ft apartment fetched $13 million ($4,510 psf), with the seller reaping a profit of $8.16 million. The third most profitable transaction was the sale of a 2,885 sq ft unit last November for $12.5 million ($4,333 psf), with the seller netting a $7.75 million gain.
Ardmore Park is a 330-unit, freehold condo located in the prestigious Ardmore Park area in prime District 10. Developed by Wharf Estates Singapore, the former Wheelock Properties, the high-end condo was completed in 2001 and has three 30-storey towers. Typical units at the condo are 2,885 sq ft, four-bedroom apartments but it also has six 8,740 sq ft duplex penthouses. Last July, the development saw a new psf-price high of $4,881 when a four-bedroom apartment changed hands for $14.08 million.
Scotts 28, a condo along Scotts Road in District 9, saw the second most profitable transaction during the week in review. A 1,733 sq ft three-bedder on the eighth floor was sold for $4.3 million ($2,481 psf) on May 26. The seller had bought the unit from the developer in November 1995 for $2.32 million ($1,341 psf). Hence, they made a profit of $1.98 million or a capital gain of 85% over 27½ years.
This is the most profitable resale transaction recorded at Scotts 28 to date. The previous long-held record was set in June 1996, when the sub-sale of a 3,466 sq ft unit for $6.86 million ($1,979 psf) netted the seller a $1.96 million profit. The transaction on May 26 also marks a new psf-price high for the development, surpassing the last high of $2,433 psf registered last August with the sale of a 1,636 sq ft unit for $3.98 million.
More at: https://www.edgeprop.sg/property-news/four-bedder-ardmore-park-sold-705-mil-gain