Four Bedder Windy Heights Sold 21 Mil Profit

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Windy Heights, a freehold condominium located on Jalan Daud in District 14’s Kembangan area, saw the most profitable condo resale transaction for the week of June 25 to July 2. The unit, a 2,476 sq ft, four-bedroom apartment situated on the ninth floor, was sold for a whopping $3.3 million ($1,333 psf) on July 1. According to available caveats, this is the largest profit ever recorded at Windy Heights. The previous record was held by a 4,973 sq ft four-bedroom unit, which was sold for $3.9 million ($784 psf) in October 2015. The seller of the 2,476 sq ft unit had originally purchased it for $1.16 million ($469 psf) in August 1997. This means that after owning the unit for nearly 27 years, they made a profit of $2.14 million, representing a 185% gain on their initial investment.This is the second-most profitable resale deal ever at Windy Heights, with the highest profit being achieved in October 2015. This was when a four-bedroom, 4,973 sq ft unit was sold for $3.9 million ($784 psf). The same unit had previously changed hands for $1.32 million ($265 psf) in June 2000, resulting in a profit of $2.58 million for the seller.Located in District 14, Windy Heights is a freehold development that was completed in 1983. It comprises 200 residential units and two commercial units. The residential units consist of four-bedroom apartments measuring 2,476 sq ft and penthouses ranging from 4,962 to 4,973 sq ft.There have been two collective sale attempts for Windy Heights, with the most recent one being in August 2018. However, the development was unable to find a buyer despite being put on the market with a reserve price of $806.2 million.In addition to Windy Heights, RiverGate also saw a profitable resale transaction during the week of June 25 to July 2. A four-bedroom unit measuring 2,077 sq ft situated on the 37th floor was sold for $6.24 million ($3,003 psf) on June 28. The seller had originally purchased the unit in a sub-sale for $4.32 million ($2,080 psf) in November 2007, making a profit of $1.92 million. This translates to a 44% gain for the seller, who owned the unit for about 16 and a half years.In District 9, RiverGate is a freehold project that was completed in 2009. It comprises three 43-storey blocks with a total of 545 units. The units range from two- to four-bedroom apartments, measuring between 1,023 and 3,918 sq ft.The unit that was sold on June 28 is the sixth resale transaction at RiverGate this year, with all five previous units being profitable. These units, which range from 1,549 to 1,798 sq ft, were sold for between $4.19 million and $5.05 million, or between $2,700 and $2,809 psf. The sellers made gains of between $1.4 million and $2.43 million.On the other hand, the most unprofitable condo resale transaction for the week of June 25 to July 2 was at One Shenton. A two-bedroom unit measuring 1,098 sq ft on the 35th floor was sold for $1.95 million ($1,776 psf) on June 28. The seller had purchased the unit from the developer for $2.29 million ($2,085 psf) in January 2007, resulting in a loss of approximately $339,000 (15%) after owning the unit for about 18 years.The 99-year leasehold condo, One Shenton, is located at Shenton Way in the CBD. The project comprises two 50-storey twin towers, with a total of 341 residential units. The units include one- to four-bedroom apartments ranging from 517 to 3,918 sq ft, as well as four-bedroom duplexes measuring 5,242 to 6,082 sq ft. There are also three duplex penthouses ranging from 6,674 to 9,085 sq ft.To date, One Shenton has seen 16 resale transactions this year. Of these, four have been unprofitable, with the units measuring between 829 and 872 sq ft incurring losses ranging from $100,000 to $320,000. Check out the latest listings for Windy Heights, Rivergate, One Shenton properties