A 3,003 sq ft, three-bedroom penthouse at Nassim Jade will be up for auction in September with a guide price of $8.8 million. (Photo: Samuel Isaac Chua / EdgeProp Singapore)
A three-bedroom duplex penthouse at freehold luxury development Nassim Jade will be up for sale at SRI’s next auction on Sept 25. The fourth-floor unit spans 3,003 sq ft and has a guide price of $8.8 million, which translates to $2,930 psf.
The lower floor of the duplex unit features a double-height living and dining area, a family room, kitchen, the master bedroom and another en suite bedroom. The remaining bedroom is on the unit’s upper floor along with two other common areas, a roof deck and a study.
Completed in 1997, Nassim Jade is a luxury residential project located in Prime District 10
A mortgagee sale, this will be the second time the property will be auctioned. It first appeared at SRI’s previous auction on Aug 28 where it had a guide price of $9 million.
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Interest in the property was muted at the time due to the seventh lunar month, says Mok Sze Sze, managing partner of auctions and sales at SRI. Many believe it to be an inauspicious time to make large purchases. SRI saw no auction sales for the month of August. Entering the eighth month of the lunar calendar, Mok believes that the lower guide price will attract renewed interest in the property.
Based on URA caveats, the property last changed hands for $5.5 million ($1,831 psf) in May 2007.
The unit’s upper floor features two common areas, a roof deck and a study. (Photo: SRI)
Just one unit has been sold at Nassim Jade this year so far: A 3,379 sq ft, four-bedroom unit on the second floor changed hands for $9.25 million ($2,737 psf) on Jan 25.
Last year, the project also 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. The project has averaged one resale transaction over the past three years.
Recent transactions at Nassim Jade tabulated by EdgeProp's AI assistant, EP Buddy. (Source: EdgeProp Singapore, URA)
The duplex penthouse will be sold with vacant possession, and is likely to appeal to owner-occupiers drawn to the property’s prime location, according to SRI’s Mok. She adds that the property is quiet while being located within walking distance of amenities and dining options along the Orchard shopping belt.
Several well-known primary schools are also within 2km of the condo, 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 luxury residential project located in Prime District 10, close to the luxury residential enclaves on Cuscaden Road and Ardmore Park. The development has 39 three- to five-bedroom apartments of 1,841 to 5,748 sq ft.
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