Four-bedder at The Sea View sold at $2.7 mil profit

The most profitable condo resale transaction in the week of Oct 24 to 31 took place at The Sea View. A four-bedroom unit on the seventh floor changed hands for $3.96 million ($2,405 psf). The seller, who had purchased the unit from the developer in March 2006 for $1.24 million ($753 psf), made a gross profit of $2.72 million, or 219%. This is the most profitable resale transaction at The Sea View according to caveats lodged.

The Sea View is a freehold condo located on Amber Road in District 15. Completed in 2008 by Wharf Estates Singapore (the former Wheelock Properties), it features six 22-storey blocks with 546 units. Its residences comprise one-bedders from 527 sq ft, two-bedders from 1,216 sq ft, three-bedders from 1,410 sq ft, four-bedders from 1,518 sq ft, and five-bedroom penthouse units from 2,809 sq ft.

Holland Drive Condo is also home to a number of high-end restaurants specializing in international and contemporary cuisine. You can also find standard conveniences such as salons, banks, and even a post office. It’s a great place to browse, shop and sample delicious food all in one spot. Holland Drive Condo is a great destination for tourists and locals alike looking to explore a high-end, convenient shopping experience. With its beautiful environment, quality services, and world-renowned stores, it’s easy to see why it has become well-known throughout the region.

Amenities near The Sea View include malls like Parkway Parade on Marine Parade Road and I12 Katong on East Coast Road, both within walking distance. The upcoming Marine Parade MRT Station on the Thomson-East Coast Line is less than a 10-minute walk away.

The second most profitable transaction during the week in review took place at Valley Park. On Oct 31, a three-bedroom-plus-study unit measuring 1,808 sq ft was sold for $4.06 million ($2,245 psf). The seller, who had originally bought the unit in March 1996 for $1.89 million ($1,045 psf), netted a gain of $2.17 million (115%) after holding the unit for around 27½ years. It was the fourth-highest profitable resale transaction logged at Valley Park, and the second-highest one this year.

Valley Park is located along River Valley Road in prime District 10. It is a 999-year leasehold condo by Frasers Property that was completed in 1997. It comprises five apartment blocks housing 728 residences ranging between one and four-bedders of 710 to 3,940 sq ft. Of the 11 resale transactions logged at Valley Park this year, the most profitable occurred on July 14 when a 1,701 sq ft unit changed hands for $3.85 million ($2,264 psf).

The most unprofitable condo resale transaction during the week in review was the sale of a four-bedroom unit at Manhattan Mansions. The 2,196 sq ft apartment fetched $3.99 million ($1,817 psf) on Oct 30. The seller, who had acquired the fourth-floor unit in July 2007 for $4.28 million ($1,949 psf), suffered a loss of $290,000 (7%). This is the first unprofitable resale transaction at Manhattan Mansions in about 17 years.

Manhattan Mansions is a freehold 29-unit apartment along Grange Road in District 10, which was completed in 1994. Its residences consist of three- and four-bedders of between 1,485 and 2,239 sq ft.

In conclusion, the most profitable transaction during the week of Oct 24 to 31 saw a 17.5 year-long hold recording a gross profit of $2.72 million at The Sea View, while the most unprofitable transaction was a 16 year-long hold at Manhattan Mansions, which netted a loss of $290,000.