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Market shift delays Point Grey home sale Add to ...

3333 POINT GREY ROAD, VANCOUVER, BC

LIST PRICE $7,980,000

SALE PRICE $7,750,000

TAXES $27,206

DAYS ON MARKET 90

LISTING AGENT Gregg Close/Sotheby’s International Realty

The Action: The 2,880-sq.-ft., three-bedroom, four-bathroom house was built by an American owner who had also purchased the neighbouring lot. He sold that property for $8.5-million within two weeks, says listing agent Gregg Close. But by the time he was set to sell the other property, the market had shifted slightly, and it took more time to sell. The house, which got the deluxe treatment, also wasn’t completely finished. After three years of sitting in limbo, Mr. Close listed the property and sold it within three months.

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The Realtor’s Take: The house got a lot of interest, partly from abroad. However, it ended up selling to a Vancouver man who already lived on the west side. The owner in the U.S. had been using the property only part-time. “He sold the first house when the market was different,” says Mr. Close. “The current market is a little more gun shy, and that presented challenges. Also, when something sits too long on the market, people don’t see how good it is. They ask, ‘What’s wrong with it?’ That’s not uncommon. It’s part of the problem. I think it was a good deal at $7,750,000, and the vendor is happy as a clam. The purchaser is happy. Everybody is happy.”

What They Got: One of the star features is the glass and steel elevator, visible at the entrance. “It’s like jewellery,” says Mr. Close. “I’ve had builders go through the property and say it must have cost $2-million to build, and it’s only about 2,800 sq. ft.” The elevator was built by Garaventa, an international maker of lifts and gondolas. The house was designed by architect Allan Diamond, and the interior by Group 5. The open concept, contemporary home features walnut veneer cabinets, floor-to-ceiling windows, gourmet kitchen and ocean and mountain views.

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