BLVD penthouse may be auctioned for $5,000 psf

HOW high can home prices go?

The answer may be $35 million for the last 'super-penthouse' at SC Global's Boulevard Residence (BLVD), which will be sold at an invitation-only auction next month.

That is what auctioneer Colliers International thinks the 7,029 sq ft freehold unit at Cuscaden Walk can fetch.

The price works out to be almost $5,000 per sq ft (psf), well above the record of more than $4,000 psf reportedly fetched for a penthouse at Orchard Residences in Orchard Turn, which was a 99-year leasehold unit.

The BLVD auction on May 20 will be conducted by Colliers together with Christie's Great Estates exclusive affiliate Ken Jacobs - the same team that auctioned off 12 Botanika units last month.

Colliers' deputy managing director and auctioneer, Ms Grace Ng, expects 'strong international interest'. 'This is a rare super-penthouse and it's freehold with its own private swimming pool, unlike many of the new developments,' she said.

The unit, at the top of the 36-storey condominium, is also 'the only new penthouse in Orchard that is completed and in move-in condition', added Ms Ng.

BLVD's other 'super-penthouse' was sold for $16 million, or $2,276 psf, last May. The highest unit price achieved for a BLVD apartment so far is $3,205 psf.