Four Bedder Four Seasons Park Sold 38 Mil Profit

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The most profitable condo resale transaction for the week of Aug 20 to 27 was at Four Seasons Park, with a four-bedroom unit selling for $7.8 million, or $3,451 per square foot (psf). This unit, on the 20th floor and measuring 2,260 sq ft, was sold on Aug 26, and the seller had previously bought it for $4 million in September 2020, resulting in a gain of $3.8 million. This translates to a capital gain of 95%, or an annualized profit of 23.8%.This sale was not only the first resale transaction at Four Seasons Park this year, but it was also the most profitable in the past two years. However, it still falls short of the top gain ever recorded at the development, which was a sale of a penthouse measuring 6,157 sq ft for $17.88 million ($2,904 psf) in December 2019. The seller of that unit had previously bought it for $9 million ($1,462 psf) in June 2002, resulting in a profit of $8.88 million.The freehold Four Seasons Park is located on Cuscaden Walk, near the popular Orchard Road shopping belt in District 10. Completed in 1994, the development has 202 units ranging from 2,153 sq ft to 7,772 sq ft. It is conveniently situated within a five-minute walk to Ion Orchard and the Orchard Interchange Station, which connects to the North-South and Thomson-East Coast Lines.Read also: Regency Park unit sold for $4.9 million profitThe second-most profitable resale deal during the week was at The Trevose, where a four-bedroom unit measuring 1,894 sq ft and located on the third floor sold for $3.36 million ($1,774 psf) on Aug 22. The seller had purchased the unit back in June 2002 for $1.34 million ($707 psf), resulting in a profit of $2.02 million or 151% after holding the unit for about 22 years.This sale is currently ranked as the fourth most profitable resale deal at The Trevose. The record is held by a duplex penthouse measuring 3,358 sq ft, which fetched $3.65 million ($1,087 psf) in September 2007. Back then, the unit had been transacted for $1.5 million ($448 psf) in June 2006, resulting in a profit of $2.15 million for the seller.The 99-year leasehold Trevose is a 142-unit condo located on Trevose Crescent, off Dunearn Road and Whitley Road in District 11. Completed in 2001, it comprises three low-rise blocks and offers a mix of two-, three- and four-bedders ranging from 958 sq ft to 3,627 sq ft. Additionally, it is just a 10-minute walk from Stevens MRT Interchange Station, which is served by the Downtown and Thomson-East Coast Lines.Meanwhile, the most unprofitable condo resale transaction during the week was at Wilkie Studio, where a duplex penthouse measuring 1,819 sq ft that was sold for $2.81 million ($1,544 psf) on Aug 23. The seller had acquired the unit from the developer in February 2008 for $3.04 million ($1,670 psf), resulting in a loss of approximately $230,000, or 7.5%, after owning the unit for 16½ years.The boutique apartment Wilkie Studio is located on Wilkie Road and was completed in 2010. It comprises 40 units spread across a single four-storey block. Units range from one-bedroom-plus-study to four-bedroom layouts with sizes ranging from 743 sq ft to 2,906 sq ft. The unit sold on Aug 23 is the third resale transaction at the development this year. On July 2, a 872 sq ft apartment was sold for $1.65 million ($1,892 psf), resulting in a profit of $310,000 for the seller who had bought it in August 2017 for $1.34 million ($1,537 psf). A little over a week later, on July 12, a 1,163 sq ft unit fetched $2.29 million ($1,969 psf), resulting in a profit of approximately $550,000 for the seller who acquired the unit in June 2018 for $1.74 million ($1,496 psf).