Three Bedroom Duplex Penthouse Nassim Jade Selling 88 Mil
The upcoming auction at SRI on September 25 will feature a luxurious, freehold duplex penthouse at Nassim Jade. This three-bedroom unit, located on the fourth floor, spans 3,003 sq ft and will have a guide price of $8.8 million, equivalent to $2,930 psf.
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The lower level of the duplex includes a double-height living and dining area, a family room, kitchen, master bedroom, and en suite bedroom. The upper level features the remaining bedroom, two common areas, a roof deck, and a study.
Built in 1997, Nassim Jade is a prestigious residential development situated in Prime District 10. This will be the second time the property is being auctioned, as it was previously featured in SRI’s auction on August 28 with a guide price of $9 million.
However, the property did not garner much interest during that time due to the seventh lunar month, which is considered an inauspicious time for major purchases. As a result, SRI did not record any auction sales in August. With September marking the beginning of the eighth lunar month, Mok Sze Sze, managing partner of auctions and sales at SRI, believes that the lower guide price will attract renewed interest in the property.
According to URA caveats, the property was last sold for $5.5 million ($1,831 psf) in May 2007.
The upper level of this unit includes two common areas, a roof deck, and a study. (Photo: SRI)
Only one unit has been sold at Nassim Jade so far this year – a four-bedroom, 3,379 sq ft unit on the second floor was transacted for $9.25 million ($2,737 psf) on January 25. Last year, there was also only one transaction, with a five-bedroom penthouse unit of 5,748 sq ft sold for $7.8 million ($2,644 psf) in November. This averages out to one resale transaction per year over the past three years.
The duplex penthouse will be sold with vacant possession, which makes it an attractive option for owner-occupiers looking for a prime location. Mok adds that the property is situated in a peaceful and quiet area, while still being within walking distance to amenities and dining options along the popular Orchard shopping belt. Furthermore, several top primary schools, such as Singapore Chinese Girls’ Primary School, Anglo-Chinese School (Primary), Anglo-Chinese School (Junior), River Valley Primary School, and Alexandra Primary School, are all within a 2km radius of the condo.
Built in 1997, Nassim Jade is a luxurious residential project in Prime District 10, close to other upscale residential enclaves like Cuscaden Road and Ardmore Park. The development comprises 39 apartments ranging from three to five bedrooms and boasts sizes between 1,841 to 5,748 sq ft.