SINGAPORE (March 2): A two-level penthouse located on the sixth-storey of The Berth by the Cove, has been sold for S$3.25 million (RM9.61 million), or S$1,105 per sq ft (psf), at Edmund Tie & Company’s auction on Wednesday — albeit at almost half its original value.

According to The Straits Times, the property received a total of five bids.

The last owner had purchased the unit for S$5.64 million, or S$1,919 psf in 2011, translating into a loss of about S$2.4 million, or 42%. This transaction is the first auction sale of a Sentosa Cove property this year.

This article first appeared in The Edge Financial Daily, on March 2, 2018.

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