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Vancouver's most expensive new listing is $15.8M possible tear-down

It's the view that counts for this 1953 UBC ranch house
Joannah Connolly
UBC $15.88 million teardown
This 1953 rancher is on a huge lot on a prime UBC street, surrounded by mega-mansions – and is priced at $15.88 million.Listing agent: Victor Kwan

A $15.88 million, 1953-built rancher at UBC was Greater Vancouver’s most expensive new listing in December, according to MLS® data.

It may also turn out to be one of the city’s most expensive tear-downs.

Why the enormous pricetag for such an average home? The house at 1512 Western Crescent, one of the UBC neighbourhood’s prime streets, sits on an elevated view lot of 23,658 square feet – which means a massive new home could be built there.

UBC ranch home view
According to this UBC home listing, this is a $15.88 million view. - Listing agent: Victor Kwan

Indeed the listing points out that there are many neighbouring multimillion-dollar homes. A brand new mansion in that location could command a much higher price tag, so it’s likely a savvy developer could make even these steep figures work.

North Vancouver $36 million property
Set on 14 acres, this North Vancouver property includes a custom-built West Coast home, guest house, stables and greenhouse. At $36 million, it is Metro Vancouver's most expensive listing in January 2018. - Sothebys International Realty Canada

And this figure is small change compared with the city’s priciest current home for sale, this palatial Shaughnessy home that was listed in late November for $35 million.

However, this is not Metro Vancouver’s most expensive listing – that honour goes to a $36.2 million North Vancouver estate.