'Most prestigious' Vancouver penthouse sells for $15M, way under initial asking price

Late last week, the penthouse suite at the Hotel Georgia sold for just under $16 million, but in the past, it has been listed for a lot more.
Listing history from Zealty takes us back to 2019, when the penthouse suite was listed for a whopping $35,800,000, with an assessed value of just under $17 million.
After a few relistings, the price dropped to $26,880,000 in 2020 before it jumped to $32,800,000 in 2022. After that, there have been a few more listings, each lower in price, before the current one. Including the current listing, the penthouse has been listed 10 times since 2019.
The final sale price was reported as $15,750,000, and data from Zealty indicates this property marks only the third sale of over $10 million in the last six months. Brandan Price with Rennie & Associates represented the purchaser for this transaction.
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Angell, Hasman & Associates Realty
The penthouse suite at 667 Howe St., the location of the Hotel Georgia residences, offers a sizeable 7,236 sq. ft. of space.

Angell, Hasman & Associates Realty
It also offers four bedrooms, seven bathrooms, and 360-degree views of downtown Vancouver, the ocean, and the mountains.

Angell, Hasman & Associates Realty
The listing from Angell, Hasman & Associates Realty said the property is “arguably the most prestigious penthouse resident in the city.”
The penthouse, designed by Mitchell Freedland, offers a “sophisticated and luxurious lifestyle” spanning a single level of living space.
Some of the luxury features include entertainment-sized rooms, a gourmet kitchen, a separate prep kitchen, an office, a billiards area with a wet bar, storage for your massive 700-bottle wine collection, and an outdoor area with amazing views of Vancouver.

Angell, Hasman & Associates Realty
The new owner also gets access to Rosewood’s amenities, including a 24-hour concierge, an indoor pool with a spa and a gym. The owner also gets their own secured four-car parking area.

Angell, Hasman & Associates Realty

Angell, Hasman & Associates Realty
The home sold over the most recent assessed value of $13,911,000 and bucks the trend of ultra-high luxury properties not selling in the region. Considering the location and what the property offers, what do you think of the final sale price?