Seller of penthouse at Beverly Hill reaps $7 million profit
Beverly Hill duplex penthouse which was recently sold, marks the most profitable resale condo transaction during the week of July 25 to Aug 1, according to URA caveats lodged.. The five-bedroom double volume penthouse exchanged hands for $18 million ($2,382 psf) on July 28 which was previously purchased by the seller in January 2007 for $11 million ($1,456 psf), translate to a hefty sum of gross gain of $7 million or 64% gain over a holding period of 16.5 years. This is the Beverly Hill’s most profitable transaction recorded to date, according to reliable source. It triumphed the record established previously in January 2007 where the seller of the penthouse reaped a profit gain of $5.3 million. Beverly Hill, a boutique condo built in 1983, is Located on Grange Road in District 10. The development comprises of 86 units housed in a single block 23-storey high with only four-bedroom units configuration available in the condo. Pebble Bay is a 510-unit development located in Kallang, is a five-minute walk to the upcoming Tanjong Rhu MRT Station on the Thomson-East Coast Line, saw the second most profitable transaction during the week in review with the sale of a 6,114 sq ft, duplex penthouse for $9 million.
