Three-bedder at The Windsor sold at $2.7 million profit
the most profitable condo resale transaction based on caveats lodged with URA during the week of Aug 15 to 22 was The Windsor 3 bedder unit, which is 2,452 square feet, was recently exchanged hands for $3.41 million. The 3 bedder unit was previously purchased by the seller for $750,000 in August 2005 translating to a gross profit before any deduction of service fee, legal fee, of $2.66 million, raking in a capital gain of 355% over a holding period of 18 years, making the most profitable resale transaction that has taken place at The Windsor to date. The previous record established was triumphed when a 2,497 sq ft unit transacted for $2.45 million ($981 psf) which was previously purchased by the seller In August 2005 for $860,000 ($344 psf) which means they rake in hefty profit margins of $1.59 million. Located off Upper Thomson Road in District 20 on Onatorio Avenue, The Windsor is a 159-units freehold development that was completed in the late 1990s. The configuration consists of nine townhouses at 2,497 sq ft each, three-bedroom apartments with multiple configurations ranging from 936 to 1,797 sq ft, and duplex units of 1,819 to 3,853 sq ft each. there has been only one other resale transaction at The Windsor to date this year apart from the unit sold on Aug 16. a 2,013 sq ft unit fetched $2.95 million ($1,466 psf) in March 2K23. Melrose Park which is The second most profitable condo resale transaction during the week in review, developed by CapitaLand located on Kellock Road, off River Valley Road in prime District 10, is a 999-year leasehold property. The 1,292 sq ft three bedder unit on the eighth floor was transacted at $3.3 million ($2,555 psf) on Aug 18. the unit was previously bought from the developer by the seller for $1.206 million ($934 psf) in February 1999. Therefore, it translates to a gross profit of $2.094 million or 174% over a holding period of a quarter century. completed in 2000, Melrose Park has The two 19-storey residential blocks with 170-unit development is in the River Valley residential enclave, located across the road from Great World City shopping centre which seamlessly connects to Great World MRT Station on the Thomson-East Coast Line. The development comprises different configurations with unit mix includes three- to four-bedroom units ranging from 1,292 to 3,412 sq ft. Each block also has six penthouse units on the 19th floor that range from 3,606 to 5,231 sq ft.