Discover a unique opportunity to own three extraordinary penthouses at Parkview Eclat, a freehold condominium on Grange Road in District 10. Finished about 16 years ago, this Art Deco-themed residence showcases the signature design of American architect James Adams.
Adams built his reputation through projects like the Forum Casino in Las Vegas, the MGM Grand Casino in Detroit, and Macau’s Galaxy Casino and Resort.
Created by Chyaw Fwu Development under Hong Kong’s Parkview Group, Parkview Eclat has a long history. It emerged from the Chyaw Fwu Group, formed in Taiwan during the 1950s by businessman CS Hwang.
Hong Kong’s Parkview Group controls Hong Kong Parkview and Singapore’s iconic Parkview Square, often known as “Gotham City.” They also invest in developments across China and Europe, showing their global reach.
In Beijing, Parkview Green is a major mixed-use site that combines office, hotel, and retail elements. In France, the Hwang family owns Le Beauvallon in St Tropez and the Château de Coligny near Paris.
Summary of Parkview Eclat’s Luxury Appeal
Parkview Eclat reflects a past era of luxury condos with its large units and premium features, like 3.5m spa pools on every balcony. All bedrooms have their own bathrooms, and each unit includes quality fittings from Zucchetti, Gaggenau, and De Dietrich.
During its May 2007 launch, Parkview Eclat units averaged $3,254 psf. One four-bedroom unit hit $4,180 psf, indicating the robust demand at that time.
The developer held on to the three penthouses, intended for personal use. Now they have been released for sale again, giving buyers the chance to acquire prized real estate.
Inside the Penthouse Trio
The largest is the super penthouse: a 10,215 sq ft duplex on the 20th and 21st floors. It features a private lap pool, an internal spiral staircase with a glass elevator, and high ceilings ranging from 3.9m to 4.8m.
Two junior penthouses, each about 5,900 sq ft, sit just below on the 18th and 19th floors. They include double-volume ceilings of 6.8m and layouts that can fit up to five bedrooms.
They were earlier marketed at $45 million for the super penthouse and $26 million for each junior unit. In January, Chyaw Fwu put them back on the market, with CBRE’s Tricia Ang leading the sales effort.
Current Penthouse Prices
Today’s listing sets the super penthouse at $56 million ($5,482 psf), with the junior penthouses at $26 million ($4,408 psf) each. Combined, they reach $108 million.
CBRE points to similar pricing among ultra-luxury properties, such as The Ritz-Carlton Residences triplex penthouse at $39 million ($5,999 psf).
The three Parkview Eclat penthouses remain “original and raw,” which Ang views as an advantage. She says they let owners shape custom-fit living areas crafted by personal preferences and lifestyle.
A buyer could merge the junior penthouses into a 10-bedroom home or even acquire all three for a “Good Class Bungalow in the sky.”
Renovating costs vary. Ang indicates the super penthouse might require around $4 million to install luxurious floors and appliances, while each junior unit might need about $2.2 million.
Prime Penthouse Transactions
Despite softer activity in the broader private housing sector, prime penthouses still set high price benchmarks. In May last year, Skywaters Residences saw a 7,761 sq ft penthouse sell for $47.34 million ($6,100 psf), setting a record for a 99-year leasehold.
At Dalvey Haus, a 9,600 sq ft duplex penthouse changed hands for slightly under $40 million. It was listed at $42 million ($4,375 psf) and was bought by a Singapore Permanent Resident.
Interest from Ultra-High-Net-Worth Buyers
According to Ang, many penthouse buyers come from China, India, and Indonesia. Some are fresh Singapore PRs who have set up family offices here.
Singapore remains a magnet for wealth even with tightened regulations following a $3 billion money-laundering scandal in August 2023. The city welcomed 600 new single-family offices last year, bringing the total to over 2,000 by late 2024.
Deputy MAS Chairman Chee Hong Tat, also Transport Minister and Second Minister for Finance, credits the surge to Singapore’s strong business environment and stable climate. This helps investors plan for the long term.
Henley & Partners data shows that Singapore saw a net inflow of 3,500 high-net-worth individuals last year. This places Singapore third, after the UAE and the US, in attracting individuals with at least US$1 million in liquid assets.
Why the Timing Works
CBRE notes that the timing is strategic as buyers often revisit property options early in the year. Singapore’s stable fundamentals and reputation for security support positive interest.
Ang points out that strong interest in upscale homes and the scarcity of such units enhance their desirability. Parkview Eclat’s last recorded transaction was a three-bedroom at $9.6 million ($3,315 psf) in December 2022.
Other Units for Sale
CBRE is also marketing a three-bedroom and two four-bedroom apartments at Parkview Eclat. They are all tenanted, with monthly rents between $18,000 and $23,000.
The three-bedroom unit on the 14th floor is priced at $10.8 million ($3,730 psf). One four-bedroom on the same floor asks $12 million ($3,690 psf), and another on the fourth floor is $11.5 million ($3,537 psf).
For Readers Eyeing Orchard Vicinity
Residents of Parkview Eclat enjoy quick access to Orchard Road, with dining and shopping close by. The building’s prime location appeals to families and investors seeking convenience and exclusivity.
Kassia Launch
Final Thoughts on Parkview Eclat
Parkview Eclat offers an exciting mix of heritage, artistry, and modern comforts. The trio of penthouses beckons those ready for a high-end Singapore address. With unwavering local demand and ongoing interest from global investors, these rare units could see active response.