Park Nova Penthouse Sold 389 Mil Translating Near Record High 6593 Psf
The largest penthouse at Park Nova has recently set a record price for the development after being sold by the developer for $38.888 million. According to a caveat dated Jan 21 on the URA Realis database, the five-bedroom unit on the 20th floor measures 5,899 sq ft and was sold for $6,593 psf.
This transaction not only marks the highest absolute price achieved for a unit at Park Nova, but also sets a new record for psf-price. The previous records for both were held by a 4,499 sq ft penthouse that sold in May 2021 for $26.026 million ($5,784 psf).
The sale of this penthouse also makes it the second-highest psf-price ever recorded for a condo unit in Singapore, with the reigning record holder being 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 development fetched $20.54 million or $6,650 psf.
It is believed that this penthouse is part of a collection of properties linked to a $3 billion money laundering case that has been put up for sale. Previous reports had stated that the penthouse was sold in 2021 for $34.438 million ($5,838 psf).
The developer of Park Nova has also sold two other units within a month, according to caveats. On Jan 17, a four-bedroom apartment spanning 2,906 sq ft on the 19th floor was sold for $16.59 million ($5,708 psf). This was followed by the sale of another four-bedroom unit measuring 2,896 sq ft on the 18th floor for $15.99 million ($5,522 psf) on Dec 27, 2024.
The 54-unit Park Nova is a freehold luxury condo located at the junction of Orchard Boulevard and Tomlinson Road in prime District 10. Developed by Hong Kong’s Shun Tak Holdings, the development received its temporary occupation permit in November last year.
For more information on the latest listings and prices of Park Nova properties, check out the EdgeProp Buddy app. You can also use the app to view the site plan and diagrammatic chart for Park Nova, compare price trends of condo new sale versus EC new sale, and generate price trend graphs for new launch condos in District 10. Additionally, you can also find a project summary for Park Nova condo on the app.
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