Three Bedroom Duplex Penthouse Nassim Jade Selling 88 Mil
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A 3-bedroom duplex penthouse at the prestigious Nassim Jade, a freehold luxury development, will be available for bidding at SRI’s upcoming auction on Sept 25. The unit, located on the fourth floor, spans an area of 3,003 sq ft and has a guide price of $8.8 million, which works out to $2,930 per square foot.
The lower level of the duplex unit comprises of a double-height living and dining area, a family room, a kitchen, the master bedroom, and another en suite bedroom. The remaining bedroom is located on the upper level along with two common areas, a roof deck, and a study.
Built in 1997, Nassim Jade is an exclusive residential project nestled in the highly sought-after Prime District 10. This will be the second time the property is being auctioned, as it was previously featured in SRI’s auction on Aug 28 with a guide price of $9 million.
However, the property did not draw much attention at the time due to the seventh lunar month, which is considered an inauspicious period for major purchases. SRI saw no auction sales in August, but with the arrival of the eighth month on the lunar calendar, managing partner of auctions and sales at SRI, Mok Sze Sze, believes that the lower guide price will pique the interest of potential buyers.
According to URA caveats, the property was last transacted for $5.5 million ($1,831 psf) in May 2007.
The upper level of the unit boasts of two common areas, a roof deck, and a study. (Photo: SRI)
This year, only one unit has been sold at Nassim Jade so far – a four-bedroom unit measuring 3,379 sq ft on the second floor, which was sold for $9.25 million ($2,737 psf) on Jan 25.
Similarly, there was only one transaction in 2019, which was the sale of a five-bedroom penthouse spanning an area of 5,748 sq ft for $7.8 million ($2,644 psf) in November. Over the past three years, the project has seen an average of one resale transaction per year.
The duplex penthouse will be sold with vacant possession and is expected to appeal to owner-occupiers looking for a prime location, according to Mok from SRI. She adds that the property is situated in a serene environment, yet within walking distance of amenities and dining options along Orchard Road.
Moreover, several renowned primary schools are located within a 2km radius, including Singapore Chinese Girls’ Primary School, Anglo-Chinese School (Primary), Anglo-Chinese School (Junior), River Valley Primary School, and Alexandra Primary School.
Nassim Jade, completed in 1997, is a luxury residential project situated in Prime District 10, in close proximity to the upscale residential enclaves on Cuscaden Road and Ardmore Park. The development comprises of 39 three- to five-bedroom apartments ranging from 1,841 to 5,748 sq ft.
In conclusion, the mortgagee sale of the penthouse is a fantastic opportunity for potential buyers to own a coveted property in a prime location at an attractive price.