Vancouver sub-penthouse condo sold for $14M under initial asking price
A Vancouver sub-penthouse condo owner aimed really high when looking to sell, but the result didn’t pan out as they’d hoped.
Unit 2900, a sub-penthouse at 1139 West Cordova Street (Two Harbour Green), has an assessed value of $13,568,000. In 2019, the suite reached its peak assessed value of $18,053,000.
It was finally reported sold earlier this week for $12,500,000, $1,068,000 under the assessed value, even though they were initially hoping for $26,500,000.
Brian Higgins, founder of the YVRGlobal Real Estate Team, told Daily Hive that the property was sold by court order after the third lender foreclosed on it when it was listed for just under $15 million.
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Prompton Real Estate Services
According to the listing by Prompton Real Estate Services, the “world-class” residence offers an expansive living environment, with tons of exterior space that offers “breathtaking vistas” from all the principal rooms.
Prompton Real Estate Services
The downtown Vancouver sub-penthouse condo unit features four bedrooms, five bathrooms and a massive (for a condo) 5,420 sq ft of space. The building also features luxurious and fun amenities, like a pool, hot tub, pool table, and virtual golf area.
Prompton Real Estate Services
If the new owner has any luxury cars, the sub-penthouse can more than accommodate them.
Prompton Real Estate Services
“The four-stall private garage includes ample storage [and] is ideal for your luxury vehicles,” the listing states.
Prompton Real Estate Services
The Cordova Street building was built back in 2008. At the price it was sold for, Zealty estimates that the monthly mortgage payments would be around $55,000 per year, based on a 20% down payment on a five-year fixed mortgage.
Prompton Real Estate Services
REW says that the building contains 71 units over 30 floors.
Prompton Real Estate Services
The final sale price ($12,500,000) was slightly higher than the most recent asking price ($12,250,000). After the initial listing (April 2023) for $26,500,000 failed to attract a buyer, it was relisted in July 2023 for $22,888,000.
After that, the listing also failed to attract a buyer, so the owner found a different real estate firm to handle the sale. The Vancouver condo was listed for $15,880,000 in January 2024 before that listing was terminated in March 2024.
Zealty