Mortgagee sale of Marina Bay Residences penthouse for $12.6 mil

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/ EdgeProp Singapore
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February 11, 2022 12:15 PM SGT
The four-bedroom duplex penthouse at Marina Bay Residences has a guide price of $2,841 psf. (Picture: Samuel Isaac Chua/The Edge Singapore)
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SINGAPORE (EDGEPROP) - A duplex penthouse at Marina Bay Residences will be put up for auction by Knight Frank on Feb 24. The 4,435 sq ft unit is a mortgagee sale. It has a guide price of $12.6 million ($2,841 psf).
The penthouse is on the 52nd and 53rd floors and has an unblocked sea view. A staircase connects the two floors.
The lower floor of the penthouse unit features the living and dining area, which is connected to a dry kitchen, as well as a wet kitchen with attached utility room. The en suite master bedroom, which has a walk-in wardrobe, and another bedroom are also located on this floor.
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The upper floor features an en suite junior master bedroom with a walk-in wardrobe. This floor also includes a spacious family area that leads to the open-air roof deck with a jacuzzi.
The 55-storey, 428-unit Marina Bay Residences is a residential development on Marina Boulevard in District 1. It is one of the five high-rise towers — three Grade-A office towers and two residential towers — that make up Marina Bay Financial Centre (MBFC).
The other residential development at MBFC is the 66-storey, 221-unit Marina Bay Suites. The 99-year leasehold Marina Bay Residences was completed in 2010, while Marina Bay Suites was completed in 2013.
SEA VIEW FROM MARINA ONE RESIDENCES - EDGEPROP SINGAPORE
The penthouse up for auction has an unblocked view of the sea. Pictured is a view of the Singapore Strait from the Marina Bay area. (Picture: Samuel Isaac Chua/The Edge Singapore)
MBFC also features the 179,000 sq ft Marina Bay Link Mall in the basement, which is directly connected to Raffles Place and Marina Bay MRT interchange stations.
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There are only a handful of residential developments in the Marina Bay downtown area. Other residential developments in the vicinity include The Sail @ Marina Bay, One Shenton, V on Shenton and Marina One Residences.
Last September, a 4,489 sq ft penthouse on the 51st floor of Marina Bay Residences was sold for $19.35 million ($4,311 psf). This was the second highest psf price achieved at the luxury condominium. The highest was for a 2,368 sq ft, four-bedroom unit on the 46th floor that changed hands for $10.34 million ($4,368 psf) last April, according to caveats lodged.
Among other notable resale transactions at Marina Bay Residences last year was the sale of a 1,981 sq ft, three-bedroom unit on the 19th floor for $5.3 million ($2,676 psf) on Aug 18. This year, the first resale at the condominium was for a 1,991 sq ft, three-bedroom unit on the ninth floor that changed hands for $5.28 million ($2,651 psf) on Jan 5.
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Nearby is the 1,042-unit Marina One Residences, which was completed in 2017. It is part of the Marina One integrated development that includes two Grade-A office towers and a mall.
Marina One Residences - EDGEPROP SINGAPORE
A penthouse at Marina One Residences sold for $19.69 million ($3,000 psf) on Aug 31,2020. (Picture: Samuel Isaac Chua/The Edge Singapore)
Marina One Residences has a total of eight penthouses, with sizes ranging from 6,469 sq ft to 8,708 sq ft. So far, two of the penthouses have been sold.
The first was a 6,469 sq ft penthouse on the 33rd floor that was sold for $18 million ($2,782 psf) in June 2018. Another 6,566 sq ft penthouse on the same floor fetched $19.69 million ($3,000 psf) on Aug 31, 2020.
The highest psf price achieved at Marina One Residences was by a 2,034 sq ft, four-bedroom unit on the 27th floor that was transacted for $7.09 million ($3,490 psf) on March 29, 2021. This was followed by the sale of another similar-sized four-bedder on the 28th floor for $6.85 million ($3,367 psf) on Oct 15, 2021.

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