An ultra-prime penthouse in downtown Vancouver, previously listed at $18 million when it was raw and unfinished, has now been finished, furnished and marketed at a whopping near-double the price.
The top, entire 48th floor of the Residences at Hotel Georgia, which was completed in 2012, was a previously an almost-empty shell, with just a couple of rooms carved out and lavishly staged. But the unsold penthouse, which was listed at $18M, sat on the market for years as the developer searched for a local buyer who would live in the home and contribute to the building community. The hunt was, apparently, unsuccessful.
Having been taken off the market in 2016, the 7,200-square-foot home has since been divided up into livable rooms, and finished to an ultra-luxe standard by Mitchell Freedland Designs. It was then relisted on June 24, 2019 at $35.8 million, very close to double the original price, despite the softening of the housing market in the intervening years. That new sticker price makes it the most expensive home on Canada’s Multiple Listing System (since this $39 million West Vancouver mansion listing expired).
The penthouse now has four bedrooms, five full and two half bathrooms, huge entertaining and living areas, including a high-tech recreation room with media, billiards, wet bar and wine room.
There is extensive outdoor terrace space as well, including one large sunset-facing terrace that has an outdoor kitchen and bar. Of course, as the penthouse takes up the entire top floor, there are epic 360-degree views of the city, ocean and mountains.
Like all of the Residences at Hotel Georgia, the home enjoys the benefit of hotel amenities, such as the glass-bottomed pool and the gym. Other amenities, like the spa, and services such as housekeeping are “pay as you play” for the residents, although there is no minimum monthly spend with the hotel, unlike some other hotel condos.
The home was valued at $16,658,000 by B.C. Assessment in July 2018, and the owner shelled out $37,584.19 in property tax last year. Monthly strata fees are more than most people’s entire mortgage payments, at $4,154.30.
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