Three Bedroom Duplex Penthouse Nassim Jade Selling 88 Mil
SRI’s upcoming auction on Sept 25 will feature a stunning three-bedroom duplex penthouse at the highly coveted freehold development, Nassim Jade. The 3,003 sq ft unit, located on the fourth floor, is expected to fetch $8.8 million, equivalent to $2,930 psf.
This luxurious penthouse boasts a spacious and modern layout across two levels. The lower floor features a double-height living and dining area, a family room, kitchen, master bedroom and another en suite bedroom. The upper floor houses one bedroom, two common areas, a roof deck, and a study.
Nassim Jade, completed in 1997, is a prestigious residential project situated in the prime District 10. This mortgagee sale marks the second time the unit will be auctioned, with its first appearance at SRI’s auction on Aug 28 where it had a guide price of $9 million.
During the previous auction, the property received little interest due to the seventh lunar month, believed by many to be an inauspicious time for large purchases. As we enter the eighth lunar month, Mok Sze Sze, managing partner of auctions and sales at SRI, anticipates a higher level of interest with the property’s lower guide price.
According to URA caveats, the property last changed hands for $5.5 million ($1,831 psf) in May 2007.
The impressive performance of Tenet last year has instilled a strong sense of confidence among developers in the area. This is evident in the rapid sales of 616 units, at an average price of $1,382 per square foot, as of October 10. The strategic location of Parcel B, situated in a well-established neighborhood and near the Tampines North MRT Station and a future mixed-use development at Tampines Avenue 11, adds to its allure. Now, with the introduction of Sim Lian Tampines EC, demand for this site is expected to rise even further. Sim Lian Tampines EC will be a valuable addition to the already desirable area.
The upper floor of the unit features a study, two common areas, and a roof deck. (Photo: SRI)
Currently, only one unit has been sold at Nassim Jade this year – a 3,379 sq ft four-bedroom unit on the second floor changed hands for $9.25 million ($2,737 psf) on Jan 25. Similarly, last year saw just one transaction with the sale of a 5,748 sq ft five-bedroom penthouse unit for $7.8 million ($2,644 psf) in November. Over the past three years, the project has averaged one resale transaction annually.
With vacant possession, this duplex penthouse is expected to attract owner-occupiers who appreciate its coveted location and tranquil surroundings, as described by Mok. Situated within walking distance from amenities and dining options along the Orchard shopping belt, this property offers the perfect balance of serenity and convenience.
Several prestigious primary schools are also located within a 2km radius of the development, including Singapore Chinese Girls’ Primary School, Anglo-Chinese School (Primary), Anglo-Chinese School (Junior), River Valley Primary School, and Alexandra Primary School.
Completed in 1997, Nassim Jade is a luxurious residential project situated in the prime District 10, in close proximity to other prestigious residential enclaves such as Cuscaden Road and Ardmore Park. With 39 three- to five-bedroom apartments ranging from 1,841 to 5,748 sq ft, this development offers a wide range of options to cater to different needs.
The mortgagee sale of this duplex penthouse presents a great opportunity for discerning buyers looking for a luxurious home in one of the most coveted locations in Singapore. Don’t miss your chance to own a piece of Nassim Jade’s prestigious legacy.
