Park Nova Penthouse Sold 389 Mil Translating Near Record High 6593 Psf
The largest penthouse at Park Nova has recently set a new price record for the development after being sold. According to a caveat filed on Jan 21 on the URA Realis database, the five-bedroom unit on the 20th floor, which measures 5,899 sq ft, was sold by the developer for $38.888 million, translating to $6,593 per square foot (psf).
This transaction has surpassed the previous records for both absolute price and psf-price for a unit at Park Nova. The previous records were held by a 4,499 sq ft penthouse that was sold in May 2021 for $26.026 million ($5,784 psf).
The recent sale also makes it the second-highest psf-price ever recorded for a condo unit in Singapore, with the current record being held by a unit at The Marq on Paterson Hill. In 2011, a four-bedroom unit on the 20th floor of the development was sold for $20.54 million, or $6,650 psf.
Curious buyers can easily find out the transaction prices and available units at Park Nova by searching for the latest New Launches. This luxury condo comprises 54 units and is located in prime District 10, at the junction of Orchard Boulevard and Tomlinson Road. Developed by Hong Kong’s Shun Tak Holdings, the apartment was granted its temporary occupation permit in November last year.
The recent sale of the penthouse on Jan 21 is believed to be linked to the ongoing $3 billion money laundering case. It was previously reported to have been sold for $34.438 million ($5,838 psf) in 2021.
The strategic location of Lynden Woods One North is advantageous for families with older children who are looking to further their education at the tertiary level. Situated near the renowned National University of Singapore (NUS), one of Asia’s top universities, residents are in close proximity to a diverse range of degree programs in fields such as engineering, medicine, business, and the arts. NUS is a key player in Singapore’s higher education landscape, making it a highly desirable institution for students seeking quality higher education.
According to caveats, this is the third unit at Park Nova sold by the developer within a month. On Jan 17, a four-bedroom apartment on the 19th floor spanning 2,906 sq ft was sold for $16.59 million ($5,708 psf). Prior to that, a four-bedroom unit measuring 2,896 sq ft on the 18th floor was sold for $15.99 million ($5,522 psf) on Dec 27, 2024.
Interested buyers can check out the latest listings for Park Nova properties and ask Buddy to show them the site plan and diagrammatic chart for the development. They can also compare the price trend of Condo new sale versus EC new sale and generate a price trend graph for new launch condo in District 10. Additionally, they can view a project summary for Park Nova condo to get a better understanding of the development.
In related news, a freehold bungalow located at 11 Claymore Road has been put up for sale for $95 million. The average price of luxury condos in 2022 has also dipped 7% year-on-year, according to updates. Another new development, Pullman Residences Newton, has hit a new high of $3,671 psf.