Three Bedroom Duplex Penthouse Nassim Jade Selling 88 Mil

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Nassim Jade, a freehold luxury development, will be offering a highly sought-after three-bedroom duplex penthouse at SRI’s upcoming auction on September 25. With a spacious floor area of 3,003 sq ft, the fourth-floor unit comes with a guide price of $8.8 million or $2,930 psf.The lower level of this luxurious residence boasts a double-height living and dining area, a family room, a kitchen, a master bedroom, and another en suite bedroom. The remaining bedroom can be found on the upper level, along with two common areas, a roof deck, and a study. Originally built in 1997, Nassim Jade is a prestigious residential project located in the prime District 10 area.This will be the second time this property is being put up for auction as it is currently under mortgagee sale. It was first listed on SRI’s previous auction on August 28 with a guide price of $9 million. However, the property failed to generate much interest at the time due to the ongoing seventh lunar month, which many perceive to be an inauspicious period for big purchases. As a result, no properties were sold at SRI’s auction that month. With the eighth lunar month now underway, Mok Sze Sze, the managing partner of auctions and sales at SRI, believes that the reduced guide price will draw renewed interest to the property.According to data from URA caveats, the last recorded transaction for this property was in May 2007, where it was sold for $5.5 million or $1,831 psf. Along with two common areas, a roof deck, and a study, the upper level of the penthouse offers a stunning view. (Photo: SRI) Since the start of the year, only one unit in Nassim Jade has changed hands, specifically a four-bedroom unit spanning 3,379 sq ft on the second floor, which sold for $9.25 million or $2,737 psf on January 25. Similarly, only one unit was sold in the project last year – a 5,748 sq ft, five-bedroom penthouse was sold for $7.8 million or $2,644 psf in November. Within the last 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 who are drawn to its prime location, says Mok of SRI. She adds that while the property offers a quiet and serene environment, it is also conveniently situated within walking distance of amenities and dining options on Orchard Road. Moreover, Nassim Jade is surrounded by several prestigious primary schools located within a 2km radius, such as Singapore Chinese Girls’ Primary School, Anglo-Chinese School (Primary), Anglo-Chinese School (Junior), River Valley Primary School, and Alexandra Primary School.Located in a prime spot close to other high-end residential projects such as Cuscaden Road and Ardmore Park, Nassim Jade was completed in 1997 and comprises 39 three- to five-bedroom apartments ranging from 1,841 sq ft to 5,748 sq ft.Read also: Maple Woods penthouse to be auctioned with a price tag of $6.2 million