Two-bedder at Grange 1866 sets new high of $3,007 psf

June 10, 2022

In the week of May 23 to 29, the highest transaction recorded on a psf basis was for a four-bedroom deluxe apartment at The Nassim.

The high for the week was achieved by a 4,069 sq ft unit located on the third floor of Nassim Hill. It was sold on May 25 to a Chinese buyer for nearly $20 million, bringing a new psf price record for the development to $4,915 psf. This surpasses the previous record psf price at Nassim Hill for a 3,122 sq ft three-bedroom unit on the third floor which changed hands for $13 million or $4,165 psf.

Developed by CapitaLand, The Nassim at 18 Nassim Hill was completed in 2015. The 55-unit freehold luxury condo in prime District 10 is a redevelopment of the former ANA Hotel. Kheng Leong Co had purchased 45 units in the development by acquiring a 100% stake in Nassim Hill Realty from CapitaLandís subsidiary CRL Realty, in January 2017. The units were subsequently sold to individual buyers.

The upcoming freehold development Grange 1866, also saw a psf price high when a 764 sq ft two-bedroom unit on the 7th floor unit changed hands for $2.3 million, or $3,007 psf on May 29. This marks the highest psf price recorded by the property so far. The deal was brokered by PropNex.

Developed by Grange 1866 Pte Ltd and project managed by Heeton Holdings, the 60-unit Grange 1866, a redevelopment of the former [email protected], is expected to be completed by the end of 2026. Nine units have been sold so far, based on caveats lodged with URA Realis, bringing the take-up rate to 15%.

The latest psf price was the highest recorded, surpassing the previous psf price of $2,794 psf achieved for the sale of a 818 sq ft, two-bedroom suite for nearly $2.3 million in August 2021.

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