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11-08-23, 12:10
Seller of penthouse at Beverly Hill reaps $7 mil profit
August 10, 2023
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The sale of a duplex penthouse at Beverly Hill was the most profitable condo resale transaction during the week of July 25 to Aug 1, based on caveats lodged with URA. The 7,556 sq ft, five-bedroom unit changed hands for $18 million ($2,382 psf) on July 28. It had been purchased by the seller in January 2007 for $11 million ($1,456 psf), which means they raked in a profit of $7 million. This works out to a capital gain of 64% over a holding period of 16½ years.
This is the most profitable transaction recorded to date at Beverly Hill, based on data compiled on EdgeProp Research. It beats the previous record established in January 2007, when the seller of the same duplex penthouse made a gain of $5.3 million.
https://sg.tepcdn.com/public/usr/a0fgoy/ca6971-BLD-BEVERLY-HILL-OCT2017-SIC.jpg
The 7,556 sq ft duplex penthouse at Beverly Hill was sold on July 28 for $18 million ($2,382 psf) (Picture: Samuel Isaac Chua/The Edge Singapore)
Located on Grange Road in District 10, Beverly Hill is a boutique condo built in 1983 with a total of 86 units housed in a 23-storey block. There are only four-bedroom units available in the condo, ranging in size from 3,369 to 3,778 sq ft, in addition to two penthouses of 7,556 sq ft each.
The penthouse sold on July 28 is the first unit at Beverly Hill to change hands in a year. Prior to this, the most recent resale transaction occurred on July 28, 2022, when a 3,778 sq ft unit fetched $8.94 million ($2,367 psf). The seller, who purchased the unit in June 2016 for $6.1 million ($1,615 psf), made a gain of about $2.84 million on the transaction.
Pebble Bay saw the second most profitable transaction during the week in review with the sale of a 6,114 sq ft, duplex penthouse for $9 million ($1,472 psf) on July 26. The five-bedroom unit was purchased in September 2001 for $4.3 million ($703 psf), hence the seller made a profit of $4.7 million (109%) after holding the penthouse for just under 22 years.
This is the most profitable transaction registered at Pebble Bay, surpassing the previous record profit of $3.07 million made by the seller of a 2,626 sq ft unit in July 2022. The unit was sold for $4.89 million ($1,862 psf).
More at: https://www.edgeprop.sg/property-news/seller-penthouse-beverly-hill-reaps-7-mil-profit
August 10, 2023
https://img.tepcdn.com/img-style/simplecrop_article/81799480.jpg
The sale of a duplex penthouse at Beverly Hill was the most profitable condo resale transaction during the week of July 25 to Aug 1, based on caveats lodged with URA. The 7,556 sq ft, five-bedroom unit changed hands for $18 million ($2,382 psf) on July 28. It had been purchased by the seller in January 2007 for $11 million ($1,456 psf), which means they raked in a profit of $7 million. This works out to a capital gain of 64% over a holding period of 16½ years.
This is the most profitable transaction recorded to date at Beverly Hill, based on data compiled on EdgeProp Research. It beats the previous record established in January 2007, when the seller of the same duplex penthouse made a gain of $5.3 million.
https://sg.tepcdn.com/public/usr/a0fgoy/ca6971-BLD-BEVERLY-HILL-OCT2017-SIC.jpg
The 7,556 sq ft duplex penthouse at Beverly Hill was sold on July 28 for $18 million ($2,382 psf) (Picture: Samuel Isaac Chua/The Edge Singapore)
Located on Grange Road in District 10, Beverly Hill is a boutique condo built in 1983 with a total of 86 units housed in a 23-storey block. There are only four-bedroom units available in the condo, ranging in size from 3,369 to 3,778 sq ft, in addition to two penthouses of 7,556 sq ft each.
The penthouse sold on July 28 is the first unit at Beverly Hill to change hands in a year. Prior to this, the most recent resale transaction occurred on July 28, 2022, when a 3,778 sq ft unit fetched $8.94 million ($2,367 psf). The seller, who purchased the unit in June 2016 for $6.1 million ($1,615 psf), made a gain of about $2.84 million on the transaction.
Pebble Bay saw the second most profitable transaction during the week in review with the sale of a 6,114 sq ft, duplex penthouse for $9 million ($1,472 psf) on July 26. The five-bedroom unit was purchased in September 2001 for $4.3 million ($703 psf), hence the seller made a profit of $4.7 million (109%) after holding the penthouse for just under 22 years.
This is the most profitable transaction registered at Pebble Bay, surpassing the previous record profit of $3.07 million made by the seller of a 2,626 sq ft unit in July 2022. The unit was sold for $4.89 million ($1,862 psf).
More at: https://www.edgeprop.sg/property-news/seller-penthouse-beverly-hill-reaps-7-mil-profit