Buyers 'left yearning' and losing millions at the Vancouver Butterfly tower
The Butterfly Tower in downtown Vancouver sticks out above the city, but there’s another sore spot emerging for some who invested in homes at the Nelson Street building, according to a local realtor.
Daily Hive Urbanized received word from a Vancouver realtor who had some info relating to major losses some buyers have experienced at The Butterfly, which became Vancouver’s third-tallest building in 2023.
Realtor John Pinton shared a blog post he published about the tower and some additional information about how much money buyers who invested early are losing.
In one example, Pinton points to a buyer who closed a two-bedroom unit for close to $2.6 million in July 2025. That same unit is now listed for just over $1.6 million.
Pinton notes, “Considering GST, property purchase tax and realtor commissions, the buyer is going to lose at least $1,000,000 or more if their unit can sell at all!!”
Pinton says that a few years ago, when potential buyers were asking him about The Butterfly, he suggested it wouldn’t be a wise investment.
“The layouts and design of the units didn’t make sense to me. Furthermore, I experienced firsthand the shocked reactions of many presale buyers the past 5 years who moved into these new highrise projects, left yearning for much more than what they had paid for,” Pinton writes.
Daily Hive Urbanized had reported on the layout/design of one of the units in 2024, with some folks online suggesting that it looked like a medical clinic.
The interior of a one-bedroom unit inside The Butterfly tower (REW)
The Vancouver realtor had his own thoughts about the interior design of one of the units, saying, “The kitchen and bedroom doesn’t flow very well to say the least.”
Pinton shared another example of a property seeing a major loss with Daily Hive Urbanized.
Pinton says this condo was purchased for $2.4 million. Now it’s asking for just over $1.6 million.
The Butterfly made headlines for various reasons as it was being developed, including a story about a vintage luxury car being air lifted into a unit.
That doesn’t mean it’s all bad when it comes to investing in a condo in Vancouver, according to Pinton. But he advises that if you are looking to buy, investing in a brand-new building like The Butterfly might not be the best choice.
“There are still good condo buildings downtown Vancouver built in the early 2000s that are still holding their value well. NEWER CONDOS AREN’T ALWAYS BETTER IN 2026!! I will do another post soon on good condos to invest at [in] downtown Vancouver!”
Additionally, Daily Hive Urbanized was informed by Westbank that there have been several sales that were not recorded on MLS over the course of the last year, including a recent sale at over $3600 per sq. ft.
“The current market conditions in Vancouver are challenging for everyone. What some sellers chose to resell for at this point in time is unfortunately often due to personal circumstances and not indicative of the overall value of a home or the building. The listings the realtor references are outliers and symptoms of the broader market context. Further, these listings do not reflect actual sale prices,” a further statement from Westbank said.
“All things considered, Butterfly continues to sell well and homes are selling at some of the highest prices per square foot in the city,” it added.
@johnpinton $1,000,000 losses for condo owners at butterfly tower Downtown Vancouver #vancouver #downtownvancouver #yaletown #condo #investment ♬ Epic Music(863502) – Draganov89