Gramercy Park is a rare freehold condominium situated at 57 Grange Road in District 10, Singapore. The project offers 174 premium units with communal facilities in 2 towers.
Gramercy Park@Grange Road is developed by City Development Ltd (CDL) on the region near Central Business District. There are only 4 penthouses in the entire residential development, 2 units with the size range 5,533 sqft and 2 about 7,287 sqft. Each penthouse comes with 2 levels, 5 bedrooms in total and a huge private swimming pool.
Recently, a Cambodian buyer bought a 5,533 sqft 2-storey penthouse units at Gramercy Park @Grange Road with the price for $17 million ($3,073 psf). The same type is sold for a Chinese with the price for $16,88 million in early 2017. The remaining 2 penthouses are currently offered more than $23 million ($3,156 psf).
The Gramercy Park developer CDL has announced that they sold 67% of a total of 174 units. The luxurious condominium comprises 2 to 4 bedroom and penthouses. All apartment were designed with the airy space and fresh environment which help the residents have the convenient and comfortable living.
When the Gramercy Park North Tower was released in May 2016, the average price was around $2,600, then, it raised to $2,800 psf. In March 2017, The South Tower was released and the price for 3 bedroom apartment with the size range 1,948 sqft on the level 5 for $5,3 million ($2,724 psf).
As expectation, Gramercy Park condo will be sold out all of the apartments in May 2018. If CDL don't complete the selling, they must pay the incurring extension fees, which was stipulated under the Qualifying Certificate (QC) ruling.