- 428 BEACH CRES., UNIT 2102
- ASKING PRICE: $1,998,000
- SELLING PRICE: $1,600,000
- PREVIOUS SELLING PRICE: $1,780,000 (2006)
- TAXES: $8,258 (2007)
- DAYS ON THE MARKET: 162
- SELLING AGENT: Nicolas Blachette, TRG Realty
A lot can change in six months.
The list price of this 1,713-square-foot suite was reduced twice before its sale. It was originally listed at $2,298,000, then cut to $2,198,000, and finally $1,998,000. It sold for almost $700,000 below the original price — and $180,000 less than the home was purchased for in 2006.
"This two-bedroom, waterfront unit sold at its market value, after reducing the list price, which was set to reflect the market six months ago," agent Nicolas Blachette says.
Despite the fluctuating market, Mr. Blachette believes that demand for high-end downtown condos will remain stable. Among the reasons he cites is that owners on the west side are selling their houses, an urban lifestyle remains attractive, and many people are downsizing.
The King's Landing building, in which this suite is situated, was constructed in 2005 and stands on the seawall, providing views over Granville Island, False Creek and English Bay.
The site's big advantage, the agent says, is that nothing can be built to block the views of the new owners.
The air-conditioned suite has a two-car garage, a 150-square-foot deck, hardwood flooring and a gas fireplace. The chef's kitchen has a six-burner Viking gas range and Fisher & Paykel dishwasher drawers, wine fridge and walk-in pantry.
The building offers a fitness centre, pool, sauna, steam room and hot tub.
A $637 monthly maintenance fee covers the caretaker, gardening, garbage pickup and management.
