First sub-sale at Boulevard 88 rakes in $3.1 mil profit

First sub-sale at Boulevard 88 rakes in $3.1 mil profit

EdgeProp Singapore

January 28, 2022

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A 2,777 sq ft, four-bedroom unit at Boulevard 88 changed hands in a sub-sale for $12.50 million on Jan 12. It marks the first sub-sale at the 154-unit luxury project since it was launched in March 2019.

The unit was originally purchased for $9.38 million ($3,378 psf) from the developer in June 2019. Thus the seller made a $3.12 million gain or a 33% upside from the sale. This translated to an annualised gross profit of 11.7% over just 2 1/2 years. This makes it the second most profitable resale transaction during the week of Jan 11 to 18.

The 154-unit Boulevard 88 is a freehold luxury project along Orchard Boulevard in prime District 10. Designed by world-renowned architect Moshe Safdie, Boulevard 88 comprises two 28-storey towers. The condo sits above the Singapore Edition Hotel conceived by American hotelier Ian Schrager and Marriott International.

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Read more at: https://www.edgeprop.sg/property-new...-31-mil-profit