A stunningly designed penthouse at Marina Collection, situated on Sentosa Cove It is currently listed for sale for $8.9 million. The four-bedroom duplex covers 3,789 square feet, and the asking price translates to $2,348 per sq ft. The luxurious unit is listed by Steve Tay Real Estate (STRE) A new boutique company run by experienced realtor Steve Tay.
In addition to the opportunity to purchase a top residence situated in Sentosa Cove, homeowners are receiving more than the capital value of their penthouse. The house is equipped with a variety of furniture and fittings specifically designed to suit the distinctive design of the home and the color mix and design of the home.
The majority of the furniture that is custom-designed as well as interior designs are included within the asking price, according to Tay. In all, the owners invested around $1.5 million on renovations to the penthouse.
When the proprietor and wife purchased the penthouse around 2 years ago, the couple enlisted an interior design studio with a high-end aesthetic Elliot James Interiors. The brief for the design was focused on creating luxurious, airy and well lit living spaces as well as incorporating coastal influences from the surroundings.
The result is an incredibly unique property that is highlighted by the open layout, the curated furniture and modern design features Tay. Tay. “Coupled with a deficiency of skilled laborers, the expenses of major renovations have increased by at least two times over the last few years.” More buyers are seeking the ease of a move-in perfect, stress-free luxurious apartment, but these types of apartments are getting scarcer as the supply shrinks and Tay adds.
Amazing views of the ocean
The living area is stylishly decorated, with huge ceiling windows offering stunning perspectives of the marina as well as the ocean beyond. The penthouse also has an individual lift.
Jac Ong Senior Associate Director at STRE who is also the estate agent responsible for the sale of the penthouse states that just a few of the units in the Marina Collection enjoy unblocked views of the marina as well as the ocean. A majority of the units overlook the pool, or have views obscured by the high-rise condominiums surrounding them.
The living area is furnished with pieces of furniture that are branded with luxury like armchairs made by Italian designer Maxalto and a custom-designed coffee table made by American manufacturer JM Szymanski, and marble side tables from Eichholtz.
Living rooms are among the places that owners love to be in the home, particularly during the day, when the room is flooded with natural sunlight. Smart-control blinds can control the lighting in the space.
The center of the house is the dining area as well as the open-concept kitchen. The kitchen was revamped to accommodate a huge L-shaped island. The staircase that was originally used to access the upper level was relocated into the center of the room, and then re-clad with glass to provide an uninterrupted view of the dining and kitchen areas and a spectacular wine room that houses over 300 wine bottles.
The design considerations of the layout’s new design is evident by the flow of air throughout the house, which improves the effectiveness of the living space, says Ong. “This is an extremely efficient way to use space in the 3,789 square feet of duplex. The dining area is large that it can comfortably house an Steinway grand piano.”
The dining table along with the screens and drinks trolley was designed by Elliot J. Interiors and manufactured in Singapore. The dining room chairs are by Italian company Gallotti & Radice, while the striking pendant came from UK lighting expert Bert Frank.
The second floor houses the owners’ private living area. A small living area that has a sofa leads to a private balcony and pool. There is also an master bedroom with an en suite and an ensuite bedroom that was converted to a gym and study.
The master bedroom was redesigned to include two doors, a wooden panelled walk-through wardrobe, as well as an elegant marble bathroom that includes bathtub and shower.
“The attraction of exclusivity and the lifestyle offered by Sentosa Cove is garnering strong demand from local buyers and homeowners. It’s difficult to find a penthouse Singapore with a breathtaking views of the sea,” Ong says. Ong. Ong says that contrary to the old-fashioned belief of Sentosa Cove is far from facilities, the residential area has emerged as a self-sustaining and mature community with a wide range of eateries, cafes shops, and even supermarkets.
The caveats to sales of land-based transactions that have not been landed at Sentosa Cove over the past few years have revealed that locals account for 50% of buyers, while the rest are permanent residents and foreigners Tay says. Tay.
He also points out that since the beginning of 2022 there are 174 caveated transactions of condo units in Sentosa Cove, with just 16 penthouse units going under the hammer in the span of. Four penthouse transactions were registered in the beginning of the year, with the most recent was that of the purchase of 4,768 square foot penthouse in Cape Royale for $10.86 million ($2,277 per square foot) on May 29.
“In my opinion, Sentosa Cove condos are typically undervalued due to their unique waterfront lifestyle that they offer in comparison to luxurious residential properties in the mainland. This is especially apparent when compared with the prices that were recently announced for certain new projects located in RCR (Rest of Central Region) and OCR (Outside Central Region),” says Tay.
Although these property cooling measures that were implemented in April have slowed down purchasing interest from foreign buyers but they have also led to an increase in rental demand for penthouses and luxury homes that are high-end according to him.
Additionally, Tay has noted a rise in the number residents who are returning to Sentosa Cove market hunting for high-end properties for their personal use. These buyers are typically people with a desire to move out of their home or are looking for a change in way of life. “With the recent changes announced that many people who are deciding between mainland and Sentosa could begin to consider Sentosa Cove to be a good value possibility,” he says.