Four-bedroom penthouse at Sentosa’s Turquoise sold at $3.78 mil loss
One of the most unprofitable resale transactions in recent weeks was the sale of a four-bedroom penthouse unit at Turquoise in Sentosa Cove, measuring 3,283 sq ft. On Dec 27 last year, it changed hands for $4.63 million ($1,410 psf), compared to its previous sale of $8.42 million ($2,564 psf) in November 2007, resulting in the seller enduring a loss of $3.78 million (45%). Annualised, this translates to a 3.9% Champions Way Condo loss over 15 years.
The record loss remains the sale of a five-bedroom penthouse unit at $4.4 million ($1,175 psf) in September 2018 at the same 99-year leasehold condominium, previously purchased for $9.53 million ($2,545 psf) in November 2007. This amounted to a $5.13 million loss, with an annualised rate of 6.8% over 10 years.
The highest profit of the week in review was made by a seller in District 10, with the sale of a four-bedroom unit at Nassim Mansion, measuring 2,852 sq ft. On Dec 29, it sold for $9.28 million ($3,253 psf) after having been bought for $5.89 million ($2,068 psf) in May 2007. This generated a $3.38 million profit (57%), with an annualised gain of 2.9% over 15½ years.
Breaking the previous psf-price high at the freehold development set in June 2018 by the sale of a 3,412 sq ft unit at $10.6 million ($3,107 psf), this sale is a testament to the vast potential of the residential enclave.
Turquoise is amongst the plethora of 99-year leasehold condos at the exclusive Sentosa Cove, many of which boast of sea-facing views. However, most units at Turquoise and the nearby Marina Collection have views of the marina.
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