[UPDATE] Last penthouse at 3 Orchard By-the-Park sold for $32 mil

SINGAPORE (EDGEPROP) - Another penthouse has just been sold at 3 Orchard By-the-Park, the luxury condo located along the prestigious, tree-lined Orchard Boulevard. The five-bedroom duplex fetched $32 million earlier this month, according to a property title search. Based on the floor area of 6,900 sq ft, the price translates into $4,638 psf.

The 77-unit luxury condo, 3 Orchard By-the-Park, developed by YTL Land & Development (Photo: Samuel Isaac Chua/EdgeProp Singapore)

The buyer is believed to be a Chinese national, and the deal is said to be brokered by Savills Residential, one of the joint marketing agents for 3 Orchard By-the-Park.

The sale of this latest penthouse means that the last penthouse and the larger of just two penthouses in the 77-unit, freehold, condominium development by Malaysian conglomerate YTL Land & Development, has been taken up.

Incidentally, the first penthouse -- a five-bedroom duplex of 6,555 sq ft -- fetched $31.5 million ($4,805 psf) in June this year. The buyer was a Chinese national too, with the deal also brokered by Savills Residential.

For price trends, recent transactions, other project info, check out the 3 Orchard By-the-Park project details page

While the latest penthouse was sold as a bare unit, the first penthouse (living room pictured) had been sold fully furnished, with interiors designed by SuMisura (Photo: SuMisura) 

The first penthouse still holds the record for highest price psf at 3 Orchard By-the-Park, but at $32 million, this latest penthouse is certainly the most expensive in terms of absolute price.

Unlike the first penthouse, which had been sold fully furnished by interior design firm SuMisura, this second penthouse was a bare unit and sold without furnishings.

While the $4,638 psf achieved for this second penthouse is slightly lower compared to the first, it's a 28% premium to the average price of $3,636 psf for the typical units sold in the development to date. Including the latest penthouse, the total number of units sold at 3 Orchard By-the-Park is 14, or 18% of the project.

Word on the street is that interest in 3 Orchard By-the-Park has picked up significantly in recent months, particularly among foreign buyers. It is after all, the first high-rise, residential development in Singapore designed by Italian architect and furniture designer, Antonio Citterio of Antonio Citterio Patricia Viel Studio. Citterio is famous for his design of the collection of Bulgari Hotels & Resorts in Bali, Beijing, Dubai, London and Milan.

Check out the latest listings near 3 Orchard By-the-Park, MRT Stations and Schools

Read also:

• Penthouse at 3 Orchard By-The-Park fetches $31.5 mil

• The Lure of Penthouses

• Luxury penthouse deals fuelled by Chinese buyers

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