Millions shaved off asking price of flashy Vancouver penthouse
A glitzy and glamorous downtown Vancouver penthouse saw a massive price drop far larger than the unit’s expansive square footage.
PH1 at 1568 Alberni Street was initially listed for $21,900,000 back in August 2024 but saw a decrease of 10.6% on Wednesday for a new asking price of $16,900,000. The latest price tag is still well above the most recent assessed value of $14,997,000.
In 2024, the penthouse was assessed at $14,421,000.
- You might also like:
- Private unit listing at Vancouver hotel drops below 2022 sold price
- BC homeowner fights strata over renos, ends up owing over $48K
- New Yaletown hotel opens in former office space
Sotheby’s International Realty Canada
Constructed in 2023, the penthouse suite features 4,346 sq ft of space, three bedrooms, and five bathrooms.
Sotheby’s International Realty Canada
The Sotheby’s International listing says the downtown apartment features “arguably the #1 view” for a Vancouver penthouse and is designed by Japanese architect Kengo Kuma. The listing also calls it the “crown jewel of Alberni. ”
Sotheby’s International Realty Canada
Based on the pictures in the listing, it’s hard to argue with its claim of having the best views from a penthouse in Vancouver. The space is spread out across two levels, and natural light floods virtually every last corner of the unit, including the washrooms.
Sotheby’s International Realty Canada
Views include glimpses of Coal Harbour, the mountains, and English Bay.
Sotheby’s International Realty Canada
“The massive living and dining area with 20-ft ceilings sparkles like diamonds by the reflected light of the private glass bottom swimming pool and spa above,” the listing says.
Sotheby’s International Realty Canada
The unit also features a private glass elevator leading to one of its three “huge outdoor terraces.”
One of the penthouse’s most eye-catching features, described in the listing, is suede wallpaper. That reminds us of a listing we reported on back in February 2023 for a home that featured Versace wallpaper.
If you thought your monthly rent or mortgage payments were bad, Zealty’s mortgage calculator suggests that on a five-year fixed mortgage with a 20% down payment ($3,380,000), the new owner of the penthouse would pay mortgage rates of up to $78,000 per month based on the current listed price.