Resale three-bedder at Rivershire sold for $2.94 mil profit

Resale three-bedder at Rivershire sold for $2.94 mil profit

The most profitable condo resale during the week of May 13 to 20 took place at Rivershire, where a 2,088 sq ft unit on the 13th floor sold for $4.32 million ($2,069 psf) on May 15. The seller originally bought the three-bedroom unit from the developer for $1.38 million ($661 psf) in May 1999. This sale yielded a profit of $2.94 million (213%), representing an annualised return of 4.5% over more than 26 years. The transaction is the first resale …