The developer of Park Nova has achieved a new record price with the sale of its largest penthouse. The five-bedroom unit on the 20th floor, covering 5,899 square feet, was recently purchased for $38.888 million, or $6,593 per square foot, according to a caveat filed on Jan 21 with the URA Realis database.
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This transaction sets a new benchmark for both absolute price and psf-price at Park Nova, surpassing the previous records held by a 4,499 square feet penthouse that was sold in May 2021 for $26.026 million ($5,784 psf).
The sale also marks the second-highest psf-price ever recorded for a condo unit in Singapore, with the highest being held by a unit at The Marq on Paterson Hill which was sold for $20.54 million or $6,650 psf in 2011.
The Park Nova penthouse, sold on Jan 21, is believed to be part of a collection of properties linked to a $3 billion money laundering case that has been put up for sale. It was previously reported to have been sold in 2021 for $34.438 million ($5,838 psf).
The unit is the third one at Park Nova sold by the developer within a month, according to caveats. On Jan 17, a four-bedroom apartment spanning 2,906 square feet on the 19th floor was sold for $16.59 million ($5,708 psf). A few days prior, on Dec 27, 2024, another four-bedroom unit of 2,896 square feet on the 18th floor was sold for $15.99 million ($5,522 psf).
Park Nova, a freehold luxury condo located at Orchard Boulevard and Tomlinson Road in prime District 10, comprises 54 units. Developed by Hong Kong’s Shun Tak Holdings, the development received its temporary occupation permit in November last year. Interested buyers can check out the latest listings for Park Nova properties on EdgeProp Buddy and ask for a site plan and diagrammatic chart, compare the price trend of condo new sale vs EC new sale, generate a price trend graph for new launch condo in District 10, and view the project summary for Park Nova condo.