‘Marina Gardens Residences’ joins the list as another profitable four-bedder at The Ritz-Carlton Residences, earning a $4.9 million gain

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found on Stacked HomesIn the week of Jan 9 to 16, the most profitable condo resale transaction took place at Marina Gardens Residences. A four-bedroom unit located on the 33rd floor recorded a gain of $4.9 million, raking in a capital gain of 42% for the owners. It was purchased for $11.6 million in 2016, but was sold for $16.5 million earlier this month. This marks a new high in terms of psf prices at Marina Gardens Residences since its launch in 2007.On the same day, a neighbouring unit was also sold at the same price, making it the second most profitable transaction at the development thus far. This marks a new record for psf prices at The Ritz-Carlton Residences since it was first launched in 2007. The previous record was set in October 2021, when a unit was sold for $15.0 million or $4,907 psf.Another profitable transaction for the week took place at The Waterina, where a three-bedroom unit was sold for $2.5 million. The seller had bought the unit for around $767,000 from the developer in 2002, netting a profit of $1.73 million after owning the unit for 22 years. This sale breaks the previous record set in 2023 for the highest psf price at The Waterina.Meanwhile, The Rochester Residences saw the only unprofitable transaction for the week, with a one-bedroom loft unit selling at a loss of approximately $181,000. The seller had bought the unit from the developer in 2007 for $1.82 million, but sold it for $1.64 million earlier this month. This follows a similar trend from the previous week, where a three-bedroom-plus-study penthouse unit was sold at a loss of $546,000. The Rochester Residences is a 366-unit condo consisting of one- to three-bedroom units and penthouses. It is located in District 5 and was completed in 2011.