The developer of Gramercy Park, City Developments Limited has sold 47% units or 81 of the available 174 units. The condo is in District 10 along Grange Road.
However, the majority of the buyers at 76% are foreigners and Permanent Residents in Singapore while only 24% are Singaporeans.
The luxury freehold development had its completion in May 2016 and sits on a site of approximately 170,000 sq ft.
Gramercy Park has two curvilinear towers of 2 to 5 bedrooms units. The units vary in size from a 2 bedder plus study of 1,184 sq ft to a penthouse of 5 bedrooms measuring 7,287 sq ft.
So far, 70 units have been sold at the 87-unit North Tower that was launched in 2016. According to CDL, all 2 bedrooms plus study units have been sold while 3 and 4 bedders had good take-up. Also, a penthouse of 5 bedrooms was bought for $16.88 million which translates to approximately $3,050 psf.
In the meantime, the South Tower that also has 87 units had its soft launch on March 30 and viewings were by appointment only. To date, of the 20 units released in phase two, 11 have been sold. Early bird prices for a 2 bedroom plus study start from $3.4 million, for a 3 bedder start at $5.1 million while a 4 bedroom type is $6.8 million. View the Gramercy Park floor plans here.
CDL has said that average Gramercy Park prices have risen to approximately $2,800 psf from the previous $2,600 psf.
“As prices of high-end properties give bottoming out signs, the interest of buying luxury developments has increased. For particular premium upmarket developments such as Gramercy Park, there has even been a rise in pricing.
Gramercy Park is conveniently located near shopping malls in Orchard Road, established schools and 2 hospitals. Orchard MRT is 10 minutes away while Botanic Gardens is close by.