After years on the Vancouver real estate market, a luxurious condo sitting high above downtown has had its price cut.
Again.
The penthouse at the Private Residences at Georgia is still unsold after several years on the market; the building was finished in 2012; it was reported unsold in 2015 and on the market for $18 million.
In 2019, the luxury condo was listed once again, this time for $35.8 million. Since then, the home has been relisted several times at progressively lower prices.
An updated listing for the luxury condo has now appeared on REW, with a $20.88 million price tag, almost $15 million below the asking price of five years ago. At the same time, there's been no sales history for the shiny new home in the intervening years.
Sitting 48 storeys above the city, the penthouse has expansive views, 8,000 square feet of space inside and outside (there are several decks and balconies), and a lot of privacy.
While its size and views are its headlining features, the home also has a wet bar, a 700-bottle wine room (is it still a cellar hundreds of feet above the ground?), a terrace with a fire pit, and a "games wing."
With four bedrooms and seven bathrooms, there's plenty of space for guests to visit, and it's attached to the Hotel Georgia, which means a 24-hour concierge. There are also four secured parking spaces, which are valuable in their own right in downtown Vancouver.
The condo owner would have handy access to the hotel's food offerings, including David Hawksworth's Bel Café and Hawksworth and the brand new Prophecy bar and restaurant.
Records show the property's price has slowly decreased over the years; at one point last year it was listed for $28.8 million and another listing shows it was also listed at $26.88 million.
BC Assessment has valued the unit at $14,311,000 this year.
