Condo at the former Shangri-La Vancouver sells for less than it did in 2022
A residential condo at the former Shangri-La Vancouver, now Park Hyatt, recently sold for under the assessed value.
Unit 3101 at 1111 Alberni St. sold late last week for $1,950,000.
Since 2016, the condo has changed owners several times. In 2016, it sold for $2,170,000. In 2020, it sold again for slightly higher, $2,366,950. In 2022, it sold for $2,300,000.
After the 2022 sale, it was listed once in April 2024 for $2,350,000 before that listing expired in January 2025. It was listed once more in June 2025 for $2,088,000 before eventually selling for $1,950,000 on Aug. 15, well below the previous sale price.
In its most recent analysis (July 1, 2024), BC Assessment valued the property at $2,056,000.
Royal Pacific Realty
With 1,554 sq. ft. of living space, the condo features two bedrooms and 2.5 bathrooms. According to Royal Pacific Realty, over $300,000 worth of “tasteful” renovations have gone into the space.
Royal Pacific Realty
The listing suggests that the owner gains access to hotel amenities, which include a fitness centre, outdoor pool, hot tub, library, and screening room.
Royal Pacific Realty
Some of the other features the listing touts include engineered hardwood floors, granite countertops, European cabinets, indulgent baths, and top-tier appliances.
Royal Pacific Realty
“With Lutron window shades and beyond, no detail is overlooked.”
The sale marks a 4.8 per cent drop in the compound annual growth rate since the 2022 sale.
We learned on June 30 that the Shangri-La’s time in Vancouver was coming to an abrupt end.
“We wish to inform you that Shangri-La Group is no longer managing Shangri-La Vancouver, and we are unable to accept reservations for this property through this channel,” a message on the Shangri-La website stated.
This new Park Hyatt Vancouver permanent name will be given to the property after it undergoes a multi-million dollar renovation that redesigns and enhances the hotel’s guest rooms, residential-style lobby, spa, and public spaces.
With the dissolution of the Shangri-La Vancouver Hotel brand, the only remaining Shangri-La property in North America is now located in downtown Toronto, which opened in 2012. The overwhelming majority of locations in the Hong Kong-based Shangri-La Hotels and Resorts chain are found in Asia.
With files from Kenneth Chan