Four-bedder at Sky@Eleven sold for $3.1 mil profit

The sale of a four-bedroom apartment at Sky@Eleven was the most profitable condo resale transaction during the week of June 11 to 18. The 2,820 sq ft unit on the 14th floor changed hands for $5.9 million ($2,092 psf) on June 12. The seller bought the unit from the developer for $2.8 million ($994 psf) in March 2007. As a result, they raked in a gain of $3.1 million on the deal, which reflects a capital gain of 111% for the seller after owning the unit for over 17 years. This is the second most profitable transaction ever recorded at Sky@Eleven, based on caveats lodged. The most profitable transaction belongs to a unit that was sold just two months earlier. A four-bedder measuring 2,713 sq ft had fetched $6.48 million ($2,389 psf) on April 4, with the seller netting a profit of $3.68 million. They had purchased the unit in March 2007 for about $2.8 million ($1,031 psf). Sky@Eleven is a freehold condo on Thomson Lane in District 11’s Toa Payoh area. Completed in 2010, it has 273 units across 42 floors. The unit mix includes three-bedroom-plusstudy units of 1,851 sq ft, and four-bedroom units between 2,271 and 2,820 sq ft. There are also four- and five-bedroom duplex penthouses of 3,757 to 5,597 sq ft. Read also: Four-bedder at One Amber sold for $2.1 mil profit Advertisement The second most profitable condo resale transaction during the week in review took place at Viz At Holland. A three-bedroom unit spanning 1,927 sq ft was sold for $2.9 million ($1,505 psf) on June 13. The seller acquired the unit from the developer in January 2006 for about $998,000 ($518 psf). Thus, they made a gain of $1.9 million after owning the unit for almost 18½ years. This works out to a capital gain of 191% for the seller. The transaction yielded the second-highest profit for a resale unit at Viz At Holland. The record profit logged at the development comes from the resale of a five-bedroom, 2,519 sq ft penthouse unit for $4.15 million ($1,648 psf) in March 2023. The unit had last changed hands for $1.95 million ($774 psf) in December 2006, which means the seller walked away with a gain of $2.2 million on the deal. Located along Queensway, off Holland Road in prime District 10, Viz At Holland is a freehold condo built in 2008. The 12-storey development has 165 residences comprising one-bedders of 495 sq ft, two-bedders of 818 to 1,227 sq ft, two-bedroom-plus-study units of 947 to 1,679 sq ft, and three-bedders of 1,259 to 1,927 sq ft. Penthouse units consist of four- and five-bedders between 2,390 and 2,648 sq ft. Meanwhile, the most unprofitable condo resale transaction during the week in review was the sale of a 1,399 sq ft, three-bedroom unit at OUE Twin Peaks. The 31st-floor unit fetched $3.3 million ($2,380 psf) on June 13. The seller bought the apartment as a new unit in August 2010 for $4.44 million ($3,169 psf). This means they incurred a loss of $1.11 million (25%) after a holding period of nearly 14 years. This is the highest loss registered for a resale unit at OUE Twin Peaks, according to data compiled on EdgeProp Research. It surpasses the previous record loss of $1 million incurred on the sale of a 1,604 sq ft, three-bedroom unit for $3.5 million ($2,182 psf) in August 2016. OUE Twin Peaks is located at 33 Leonie Hill Road, close to the Orchard Road shopping strip in prime District 9. It is a 99- year leasehold development that was completed in 2015. The condo has 462 units across two 35-storey towers, consisting of one- to four-bedders from 549 to 1,895 sq ft. Read also: Four-bedder at Ardmore Park sold for $2.65 mil profit Advertisement OUE Twin Peaks also saw the second most unprofitable condo resale transaction during the week in review. A one-bedroom unit spanning 570 sq ft was sold for $1.3 million ($2,279 psf) on June 12, with the seller making a loss of nearly $300,000. They had bought the unit for $1.6 million ($2,803 psf) in May 2016. Check out the latest listings for Sky@eleven, Viz At Holland, Oue Twin Peaks properties