Resale Four Bedder Clover Park Sets Record Profit 206 Mil

Gain of $1.08 mil by selling unit at Reflections at Keppel BayProfit of $1 mil at Meyer Mansion Profitable Resale of Four-Bedroom Apartment at Clover By The ParkThe most profitable condo resale transaction during the week of May 6 to 13 was at Clover By The Park, where a four-bedroom unit on the 30th floor was sold for $3.34 million. This translates to a price per square foot (psf) of $1,903. The seller purchased the 1,755 sq ft unit from the developer in April 2009 for $1.28 million, which means they made a profit of $2.06 million (160.9%) over a holding period of more than 16 years.This is the most profitable resale deal recorded at Clover By The Park based on lodged caveats. It beats the previous highest gain of $2.02 million from the sale of a 1,733 sq ft unit on the 15th floor for $3.29 million ($1,897 psf) on March 20. The seller had bought the four-bedroom unit from the developer for $1.27 million ($733 psf) in July 2008.The recent record sale at Clover By The Park involved a 1,755 sq ft unit that was sold for $3.34 million on May 8. (Picture: Samuel Isaac Chua / )Built in 2011, Clover By The Park is a 99-year leasehold condo located on Bishan Street 25, near Marymount Road in District 20. It is situated close to Bishan-Ang Mo Kio Park and is within a five-minute drive of Whitley Secondary School, Catholic High School and Eunoia Junior College.Read also: Resale four-bedder at Viva sold for $2.22 mil profitThe development consists of two 39-storey towers, totaling 616 three- and four-bedroom units ranging from 1,216 to 1,765 sq ft. There are also 16 penthouses measuring 2,530 to 3,477 sq ft.The next most profitable resale during the week took place at One Amber, where a 1,453 sq ft unit on the fifth floor was sold for $3.28 million ($2,257 psf) on May 13. The seller had bought the three-bedroom apartment for around $1.57 million ($1,080 psf) in November 2010, which means they made a profit of $1.71 million, or 108.9% after owning the unit for 14.5 years.A 1,453 sq ft unit at One Amber fetched $3.28 million on May 13 | Photo: Samuel Isaac ChuaCompleted in 2010, One Amber is a freehold condo located off Mountbatten Road in District 15. It has four 23-storey towers housing a mix of one- to four-bedroom units spanning 570 to 3,100 sq ft. There are also four-bedroom penthouses of 2,659 to 3,541 sq ft. The condo is within walking distance of Tanjong Katong MRT Station (Thomson-East Coast Line), and is near lifestyle hubs such as Katong Shopping Centre and The Odeon Katong.Meanwhile, the least profitable transaction during the week was the sale of a 2,056 sq ft unit at Marina Bay Suites. The four-bedroom apartment on the 13th floor was sold for $3.83 million ($1,863 psf) on May 7. The seller had previously purchased the unit for $4.44 million ($2,159 psf) in December 2009, resulting in a loss of $609,000, or an annualised loss of 1% over 15.5 years.A four-bedroom apartment at Marina Bay Suites was sold for $3.83 million on May 7, incurring a loss of $609,000 | Photo: Samuel Isaac ChuaThere have been three other resale transactions at Marina Bay Suites this year, all of which were unprofitable. The largest loss was incurred by the seller of a 1,625 sq ft three-bedroom unit, who sold the 58th-floor apartment for $3.1 million ($1,907 psf). They had previously paid $4.25 million ($2,614 psf) for the unit in May 2012.Read also: Four-bedder at Peach Garden sold for $3.37 mil profitMarina Bay Suites is located on Central Boulevard in the Marina Bay financial district. Completed in 2013, it is part of the larger Marina Bay Financial Centre mixed-use development. The 99-year leasehold development houses 221 units with a mix of three- and four-bedroom units spanning 1,572 to 2,691 sq ft. Downtown MRT Station on the Downtown Line, Raffles Place MRT Station and Bayfront MRT Station are all within walking distance of the condo.

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