Penthouse sells underneath asking as market turns

Sutton Group, West Coast Realty

531 Beatty St., No. 703, Vancouver

Asking worth: $1,548-million (Might 16)

Promoting worth: $1.48-million (June 1)

Earlier promoting worth: $1,215,000 (2020); $890,000 (2011); $676,599 (2007)

Days on market: 16

Taxes: $3,571.29 (2022)

Month-to-month upkeep price: $898.12

Itemizing brokers: Ian Watt, Sutton Group, West Coast Realty

The motion

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The 2-level unit has 19-foot ceilings.Sutton Group, West Coast Realty

The proprietor undertook a serious renovation on the unit however by no means lived in it because of private circumstances. Itemizing agent Ian Watt says lots of people considered the unit and he acquired one supply from a pair that bought their home within the suburbs to be nearer to work. The sale accomplished June 29.

What they bought

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The upkeep price is on the excessive facet.Sutton Group, West Coast Realty

The 1,146-square-foot, two-bedroom, two full lavatory nook penthouse is inside strolling distance of Gastown, downtown and Yaletown, in a 15-year-old concrete constructing.

The 2-level unit has 19-foot ceilings, floor-to-ceiling home windows with views of the North Shore Mountains, a garage-style swing door that opens to a 350-square-foot balcony, customized lighting, a gourmand kitchen, and a main bedroom upstairs with a 200-square-foot walk-in closet.

The unit consists of two parking stalls and the constructing permits pets and leases. As a result of it is a boutique constructing with round 30 items, the upkeep price is on the excessive facet.

The agent’s take

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The unit has a 350-square-foot balcony.Sutton Group, West Coast Realty

“The market is type of gentle, and never the best way it was 4 months in the past,” Mr. Watts stated. “Having stated that, individuals are beginning to come again to the desk. Lots of people have not purchased but and missed out because of a number of gives. After all, now they’re negotiating, whereas earlier than you paid over-asking.”

Patrons who’re promoting a home do not have to fret about rates of interest like first-time patrons, he provides.

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