Luxury properties seized in $3b money laundering case fail to sell at auction

A two-bedroom plus study apartment at Gramercy Park drew the keenest bidding among seven properties seized in connection with Singapore's $3 billion money laundering case, but failed to sell under the hammer on Thursday (Sept 17).

All seven properties — four apartments at Gramercy Park, two at Sloane Residences and an office unit at Suntec Tower One — were withdrawn after failing to meet their reserve prices, which were not disclosed.

The Knight Frank auction at Ocean Financial Centre drew 65 attendees, including 30 registered bidders. The rest were walk-ins.

The room was packed, with some attendees standing at the back.

Tan Tee Khoon, head of auctions and sales at Knight Frank Singapore, said that it was not uncommon for properties to be withdrawn at an auction despite a sizeable turnout, as some attendees might merely be curious observers.

Bidding was most active for unit #21-07 at Gramercy Park. The fully furnished, freehold apartment spans 1,292 sq ft and comprises two bedrooms and a study.

It had an opening price of $3.82 million, or $2,957 per sq ft (psf).

After offers of $3.2 million and $3.3 million were rejected, bidding picked up at $3.5 million and rose in mostly $25,000 increments as three interested parties competed for the unit.

The highest offer came in at $3.75 million, or about $2,902 psf.

The auctioneer withdrew the property after the bid fell short of its reserve price.

Some 42 of Gramercy Park's 174 apartments, or about 24 per cent, are two-bedroom plus study units.

A renovated four-bedroom apartment at #17-01 also drew interest. The 2,659 sq ft unit, which has unblocked views, opened at $7.55 million, or about $2,839 psf.

Initial offers of $4 million and $4.5 million were rejected before bidding picked up from $6 million.

Two bidders subsequently traded offers, taking the price to $6.7 million, or around $2,520 psf.

The property was withdrawn after the highest bid failed to meet its reserve price.

Tricia Tan, director of auction and sales at Knight Frank Singapore, said that the firm would update the relevant authorities on the results.

The authorities would then decide whether to conduct another auction or enter into private negotiations with interested bidders.

"There is interest, but (the bids) did not meet the reserve prices set," she noted.

She added that a sale becomes binding only when the hammer falls, after which the successful bidder must pay a 10 per cent deposit and sign the sale contract.

Interest was more muted for the remaining five seized properties.

At Gramercy Park, a 2,691 sq ft, four-bedroom unit at #12-09 was withdrawn after opening at $7.5 million, while a 2,185 sq ft, three-bedroom unit at #18-02 was withdrawn at its opening price of $6.2 million.

Completed in 2016, Gramercy Park is a freehold District 10 development at 57 Grange Road, within a luxury residential enclave near embassies and Good Class Bungalow areas.

At Sloane Residences, another freehold development in District 10, two three-bedroom apartments of 1,249 sq ft each were withdrawn.

The sixth-floor unit opened at $3.65 million, while the eighth-floor unit opened at S$3.68 million.

The sole commercial property among the seven seized assets was a 3,498 sq ft office at Suntec Tower One, with a 99-year lease from March 1988.

It opened at $11 million, but an offer of $8 million, or about $2,287 psf, was rejected before the property was withdrawn.

The sale would not have been subject to goods and services tax.

在新加坡30亿美元洗钱案中查封的七处房产中，格拉梅西公园一套两居室加书房的公寓吸引了最激烈的竞价，但在周四（9月17日）的拍卖会上未能售出。

所有七处房产——格拉梅西公园的四套公寓、斯隆公寓的两套公寓和新达城一号的一间办公单元——均因未能达到未公开的底价而被撤回。

莱坊在海洋金融中心举办的拍卖会吸引了65人参加，其中30人已登记竞标，其余为现场竞标者。

房间里挤满了人，有些与会者站在后面。

新加坡莱坊拍卖及销售主管陈迪坤表示，即使到场人数众多，房产在拍卖会上被撤回的情况也并不罕见，因为一些参加者可能只是好奇的旁观者。

格拉梅西公园21-07单元的竞标最为活跃。这套永久产权的精装修公寓面积为1292平方英尺，包含两间卧室和一个书房。

它的开盘价为 382 万美元，即每平方英尺 2957 美元。

在 320 万美元和 330 万美元的报价被拒绝后，竞价从 350 万美元开始，并以 2.5 万美元的增量逐步上涨，最终有三家感兴趣的买家竞相购买该房产。

最高报价为 375 万美元，约合每平方英尺 2902 美元。

由于出价未达到保留价，拍卖师撤回了该房产的拍卖。

格拉梅西公园的 174 套公寓中，约有 42 套（约占 24%）是两居室加书房的单元。

位于17-01号的一套翻新过的四卧公寓也吸引了众多买家的目光。这套面积为2659平方英尺（约243平方米）、视野开阔的公寓，开价755万美元，约合每平方英尺2839美元。

最初的报价分别为 400 万美元和 450 万美元，但都被拒绝了，之后竞价从 600 万美元开始。

随后两名竞标者交换报价，最终成交价为 670 万美元，约合每平方英尺 2520 美元。

由于最高出价未能达到底价，该房产被撤回。

莱坊新加坡拍卖及销售总监陈翠霞表示，公司将向有关部门通报拍卖结果。

当局随后将决定是再次举行拍卖，还是与有意竞标者进行私下谈判。

她指出：“确实有人​​感兴趣，但（出价）没有达到设定的底价。”

她补充说，只有在拍卖槌落下时，交易才具有约束力，之后中标者必须支付 10% 的定金并签署销售合同。

对于其余五处被查封的房产，人们的兴趣则较为冷淡。

在格拉梅西公园，一套面积为 2,691 平方英尺、四居室的单元房（12-09 号）在以 750 万美元的价格开盘后撤回，而一套面积为 2,185 平方英尺、三居室的单元房（18-02 号）在以 620 万美元的价格开盘后撤回。

Gramercy Park 于 2016 年竣工，是位于第 10 区格兰奇路 57 号的永久产权住宅项目，地处大使馆和优质洋房区附近的高档住宅区内。

在第 10 区的另一个永久产权开发项目 Sloane Residences，两套面积均为 1,249 平方英尺的三居室公寓被撤回。

六楼单元的开盘价为 365 万美元，而八楼单元的开盘价为 368 万新元。

在查封的七项资产中，唯一的商业地产是新达城一号大厦的一间面积为 3,498 平方英尺的办公室，租期为 99 年，从 1988 年 3 月开始。

该房产最初标价 1100 万美元，但在撤回之前，有人出价 800 万美元（约合每平方英尺 2287 美元）遭到拒绝。

这笔交易原本无需缴纳商品及服务税。