Park Nova Penthouse Sold for $38.9M! Hits $6,593 PSF, Nearing All-Time High!

Five-Bedroom Penthouse Sets New Record

The largest penthouse at Park Nova was recently sold for $38.888 million ($6,593 psf), setting a brand-new all-time high for the ultra-luxury development! According to caveats lodged with URA Realis on 21 January, the unit is located on the 20th floor with a generous strata area of 5,899 sq ft and was sold directly by the developer.

Shattering Dual Records, Surpassing 2021 Benchmark

This transaction not only marks the highest overall quantum ever recorded at Park Nova, but also sets a new psf price record for the project. The previous record holder was a 4,499 sq ft penthouse sold in May 2021 for $26 million ($5,784 psf).

Second Highest PSF Price in Singapore Condominium History

Beyond setting a benchmark within Park Nova, this deal also ranks as the second highest psf transaction in the history of Singapore's non-landed private residential market. The current all-time record holder remains The Marq on Paterson Hill, where a 3,089 sq ft, four-bedroom unit fetched $6,650 psf in 2011 for a total quantum of over $20 million.

With the ultra-luxury condominium segment continuing to show resilience, could an even higher benchmark price emerge in the near future? We shall wait and see!

Park Nova Penthouse Sold for $38.9 Million, Likely Part of $3 Billion Money Laundering Asset Sales!

Making waves in the prime luxury market once again, the Park Nova penthouse transacted on 21 January may be part of the asset sales linked to the high-profile $3 billion money laundering probe. The unit was previously transacted in 2021 for around $34 million ($5,838 psf), while this latest transaction closed at approximately $38.9 million ($6,593 psf), establishing new peaks for both the highest absolute price and psf price at Park Nova.

Brisk Luxury Market Activity with Three Sales at Park Nova Within a Month

Caveat records indicate that this is already the third developer unit transacted at Park Nova within a single month:
On 17 January, a four-bedroom unit on the 19th floor (2,906 sq ft) was sold for **$16 million ($5,708 psf)**
On 27 December 2024, an 18th-floor four-bedroom unit (2,896 sq ft) transacted for **$15 million ($5,522 psf)**

Evidently, the ultra-luxury residential market continues to command strong interest from high-net-worth individuals, keeping buyer momentum at Park Nova firmly elevated!