Architect Jean Nouvel’s 43-unit Le Nouvel Ardmore, built by Singapore-listed Wing Tai Holdings, has sold two apartments for $5,800 psf, a new record for the premium condo.
In late June, a 3,843-square-foot condo on the 28th floor sold for $22,288,888, the first sale at the rumored $5,800 psf price point. There was, however, no stipulation attached to this deal. Mr Han and his spouse acquired the flat in trust on behalf of their four-year-old daughter, according to a property title search and transfer paperwork.
Mr Han comes in at number 2,610 on Hurun Rich List 2022, a list compiled by the Hurun Research Institute and valuing Han at RMB2.2 billion ($450 million). When it comes to the Hurun Rich List, Han has been dubbed “the wealthiest guy in Ulanqab,” according to a report from min. news on Aug. 1.
The custom interior design and furnishings by Robert Cheng of Brewin Design are believed to have contributed to the higher purchase price of the 28th floor condo unit.
According to Han, this isn’t his first time living at Le Nouvel Ardmore. He paid $15.175 million for a 3,789-square-foot flat on the 23rd level, according to a caveat filed in March 2017.
Shortly after Han’s acquisition, another deal reached the new record price of $5,800 psf. According to a caveat filed with URA Realis on July 5, a 3,843 sq ft four-bedroom property on the ninth floor sold for $22,29 million. A title search on the property reveals that the buyer is most likely Taiwanese.
Le Nouvel Ardmore, which was completed in 2014, has only four-bedroom residences. The 33-story skyscraper only has two apartments per level. A total of 34 simplexes and eight duplexes or villas are available, ranging in size from 3,789 to 4,273 square feet. The only duplex penthouse in the complex measures 13,573 square feet, and it was the first to sell. Alibaba and Taobao co-founder Su Tongyu paid $51 million ($3,757 psf) for the building in April 2015. Homebuyers looking at other luxury condos can consider Les Maisons Nassim.
Units sold between 2020 and 2021 have averaged $4,530 per square foot; the final two transactions were in September 2021, when a 5,360-square-foot duplex on the ninth story sold for $26.3 million and an adjacent 3,843-square-foot, simplex sold for $18.46 million. In 2021, the median price per square foot reached by apartments sold was $4,530.
Le Nouvel Ardmore has sold 32 units as of this writing, according to caveats that have been filed. However, the total number of units sold is larger if the recent trust purchase and earlier sales without a caveat are included. At a starting price of $15.174 million, the Le Nouvel Ardmore condos in District 10’s affluent Ardmore Park neighborhood are among the most expensive in the city.