Luxury unit atop Fairmont Pacific Rim sells for highest condo price in Vancouver history

Luxury unit atop Fairmont Pacific Rim sells for highest condo price in Vancouver history

A mystery multimillionaire will soon be taking up residence in Vancouver’s most expensive luxury condo.

The penthouse at Vancouver’s Fairmont Pacific Rim has sold for $25 million, according to media reports, making it the most expensive condo sale in Vancouver and one of the most expensive in Canada.

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A Toronto condo set the record for most expensive condo in Canada when it sold for $28 million in 2011.

Listing agent Malcolm Hasman confirmed to the Province that the Coal Harbour penthouse, listed for $28.8 million, has been sold. The realtor could not identify the buyer or provide any details about the purchase.

Until now, Vancouver’s most expensive condo sale through the multiple listing service, known as MLS, was a property in the Shaw Tower that cost just over $10 million in 2011, according to the Real Estate Board of Greater Vancouver.

While she couldn’t comment on the penthouse sale for privacy reasons, board president Sandra Wyant said “whoever has bought it obviously believes that Vancouver is a highly desirable place to be.”

The Fairmont Pacific Rim is a five-star hotel that also features luxury condos above the 22nd floor. Located on West Cordova and Burrard, the 6,434 square-foot penthouse suite takes up two levels on the top floor of the 45-storey building designed by architect James Cheng.

The last time the condo sold was in April 2010, when the owner paid $17.5 million in cash.

Since then, the three-year-old penthouse has been fully upgraded and furnished by Vancouver interior designer Robert Bailey, according to the MLS listing. The property features 14 rooms, including three spacious bedrooms with separate walk-in dressing rooms, four bathrooms, a family room, library and a gym. The condo also has a private walkout rooftop deck, courtyard and garden with views of Coal Harbour and the North Shore Mountains.

According to the MLS listing, the property will cost its new owner $4,272 a month in condo fees. Last year, it was assessed at $16.9 million.



Read more: http://www.theprovince.com/business/Luxury+unit+atop+Fairmont+Pacific+sells+highest+condo+price+Vancouver+history/8478003/story.html#ixzz2VMd0Io00

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