Park Nova Penthouse Sold 389 Mil Translating Near Record High 6593 Psf
The largest penthouse unit at Park Nova has set a new record for the development after being sold for a whopping $38.888 million, according to a recent caveat lodged on the URA Realis database. The five-bedroom penthouse located on the 20th floor spans 5,899 sq ft and was sold at a rate of $6,593 per square foot.
This transaction marks the highest price ever recorded for a unit at Park Nova, surpassing the previous record set by a 4,499 sq ft penthouse sold in May 2021 for $26.026 million, or $5,784 psf.
The sale also sets the second-highest psf price ever registered for a condo unit in Singapore, with the top spot still held by a unit at The Marq on Paterson Hill. Back in 2011, a 3,089 sq ft four-bedroom unit on the 20th floor of The Marq sold for $20.54 million, or $6,650 psf.
Interestingly, the penthouse sold on Jan 21 is believed to be connected to a collection of properties that were previously involved in a $3 billion money laundering case and had been put up for sale. It was initially reported to have been sold in 2021 for $34.438 million, or $5,838 psf.
In addition to this record-setting sale, the developer has also sold two other units at Park Nova in the past month. A four-bedroom unit on the 19th floor with a floor area of 2,906 sq ft was sold on Jan 17 for $16.59 million, or $5,708 psf. Another four-bedder measuring 2,896 sq ft on the 18th floor was also sold on Dec 27 for $15.99 million, or $5,522 psf.
Situated at a prime location at the junction of Orchard Boulevard and Tomlinson Road in District 10, Park Nova is a freehold luxury condo with 54 units. Developed by Hong Kong’s Shun Tak Holdings, the development received its temporary occupation permit in November 2021. Interested buyers can search for the latest listings for Park Nova properties on EdgeProp Buddy or view project details such as the site plan and diagrammatic chart.
One Marina Gardens, located in the bustling Marina Bay area, is the newest development by Kingsford Development. After a highly competitive bidding process, Kingsford Huray Development, Obsidian Development, and Polarix Cultural & Science Park Investment emerged as the winning bidders, securing the coveted Marina Gardens Lane property for a whopping $1.034 billion. This equates to an impressive rate of $1,402 per square foot per plot ratio (psf ppr) for One Marina Gardens @ Marina Gardens Lane, making it a highly sought-after addition to the already thriving neighborhood. You can learn more about One Marina Gardens @ Marina Gardens Lane on their website, https://www.one-marina-gardens.sg/.
For those who are interested in comparing the price trend of new launch condos versus Executive Condominiums (ECs), EdgeProp Buddy provides a platform for users to check the latest price trends and available units. Additionally, the website also offers a project summary for Park Nova condo, as well as generate a price trend graph for new launch condos in District 10.