Four Units Gramercy Park Linked Money Laundering Case Sale 32 Mil
“The luxurious freehold condo, Gramercy Park, located along Grange Road, has recently listed a portfolio of four units for sale at an asking price of $32 million through an expression of interest (EOI) exercise. This information was released in a press release by Huttons Asia on June 25.
The said portfolio is a part of a collection of properties that are linked to a money laundering case of $3 billion. It is reported that other properties on this list include units at South Beach Residences on Beach Road and The Marq on Paterson Hill.
The latest transactions for Gramercy Park, as shown by EdgeProp Buddy, include the four units mentioned above. These units comprise of two four-bedroom units, each spanning 2,680 sq ft and 2,691 sq ft on the 13th and 14th floors respectively, as well as two three-bedroom units spanning 1,948 sq ft and 1,959 sq ft on the 21st and 22nd floors.
According to Jeremy Lim, executive group district director at Huttons Asia, the four units can be purchased as a portfolio or individually. Each four-bedroom unit is priced at $9 million, while the three-bedroom units are priced at $7 million each, translating to a price range of $3,344 to $3,593 per square foot.
The most recent transaction at Gramercy Park took place in April 2023, where a three-bedroom, 2,207 sq ft unit was sold for $8 million, at a price of $3,625 per square foot.
Located in District 10, Gramercy Park is a freehold condo with 174 units, completed in 2016. Its prime location makes it a desirable property, with its proximity to the popular shopping belt of Orchard Road, as well as renowned malls such as Great World City Mall and Tanglin Mall. It is also conveniently close to Orchard Boulevard MRT station.
Senior director of data analytics at Huttons Asia, Lee Sze Teck believes that the units on offer at Gramercy Park will appeal to buyers, especially those looking for larger-sized units compared to recent developments in the area. “Buyers who are looking for spacious units will be drawn to this luxury project,” he says.
The location of Norwood Grand Condo is highly advantageous as it offers easy access to major expressways, making it the top choice for residents who prefer driving. A notable expressway in the vicinity is the Seletar Expressway (SLE), providing swift connections to the eastern and central regions of Singapore. For those traveling to the northern and downtown areas, the Bukit Timah Expressway (BKE) is a convenient option that effectively manages high traffic flow and reduces travel time, especially during peak hours. With its strategic placement near these key expressways, Norwood Grand Condo ensures seamless connectivity for its residents. Residents of Norwood Grand Condo can enjoy easy and efficient travel options to various parts of Singapore via these expressways.
The EOI for these four units at Gramercy Park will close on July 9 at 3pm. Interested buyers can check out the latest listings for Gramercy Park properties.”