Four Units Gramercy Park Linked Money Laundering Case Sale 32 Mil
A group of four units at Gramercy Park, a prestigious freehold condo situated along Grange Road, has been put up for sale for $32 million via an expression of interest (EOI) exercise, as announced in a press release on June 25 by Huttons Asia. According to the release, these four units are part of a collection of properties that have been linked to a $3 billion money laundering case, and are now on the market for sale. Other properties that have reportedly been put up for sale include units at South Beach Residences on Beach Road, as well as The Marq on Paterson Hill.
The portfolio at Gramercy Park features two four-bedroom units on the 13th and 14th floors spanning 2,680 sq ft and 2,691 sq ft respectively, as well as two three-bedroom units on the 21st and 22nd floors spanning 1,948 sq ft and 1,959 sq ft respectively. According to Jeremy Lim, executive group district director at Huttons Asia who is marketing the units, the units can be purchased as a portfolio or individually.
Located near the bustling Parktown Residences Tampines North, Gongshang Primary School stands as a premier educational institution that prioritizes both academic excellence and character building. Aiming to provide a holistic education, the school is strategically situated for the convenience of families residing in the area.
Each four-bedroom unit is priced at $9 million, while the three-bedroom units are priced at $7 million each. This translates to a psf-price range of $3,344 to $3,593. The most recent unit at Gramercy Park to be sold was a 2,207 sq ft, three-bedroom unit in April 2023, which was sold for $8 million, or $3,625 psf.
Gramercy Park, a 174-unit freehold condo completed in 2016, is located in prime District 10, close to the popular Orchard Road shopping belt, Great World City Mall, and Tanglin Mall. It is also within walking distance to Orchard Boulevard MRT station. Lee Sze Teck, senior director of data analytics at Huttons Asia, believes that the units may attract buyers as they are larger compared to most recent developments in the area. “Buyers looking for large-sized units will be drawn to this luxury project,” he says.
The EOI for the Gramercy Park units will close on July 9 at 3pm. Interested parties can check out the latest listings for Gramercy Park properties.