A five-bedroom penthouse at 3 Orchard By-The-Park has been sold for $31.5 million. In terms of absolute price, it is the most expensive penthouse sold this year to date. The price for the 6,555 sq ft unit translates to $4,805 psf. The sale took place earlier this week and a caveat has yet to be lodged. It was brokered by Savills Residential, one of the joint marketing agents for 3 Orchard By-The-Park.
The buyer of the penthouse is believed to be a Chinese national. The penthouse is one of just two penthouses in the luxury, freehold condo with just 77 units. The condo was developed by the Yeoh family-controlled Malaysian developer, YTL Group, a name synonymous with luxury property developments, hotels and resorts. YTL also developed the luxury bungalows at Kasara Villas and Sandy Island at Sentosa Cove, Singapore’s luxury waterfront residential resort.