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New Westminster penthouse sells under asking Add to ...

1245 QUAYSIDE DRIVE, PH3, NEW WESTMINSTER, B.C.

ASKING PRICE $898,000

SELLING PRICE $860,000

MAINTENANCE FEES $707

TAXES $3,947 (2013)

DAYS ON MARKET 77

LISTING AGENT Ian Watt/Sutton Group West Coast Realty

The Action The purchasers are a local New Westminster professional couple whose kids had moved out, but who didn’t want to live downtown, says listing agent Ian Watt.

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The previous owner had completely transformed the condo – including scraping all the popcorn stucco off the ceilings – and attempted to flip it, but Mr. Watt isn’t sure he’d have made a profit.

“People think they can do it,” he says.

“But you have to realize there’s not much profit after you pay the Property Transfer Tax and commissions.”

What They Got The 2,248- square-foot penthouse in this 23-year-old building with panoramic views was completely gutted and refinished.

The unit has 500 square feet of balcony space, more than 1,000 square feet in the living and family rooms, three bedrooms, 31/2 bathrooms, a formal dining room, and space for four.

It also has three parking stalls – a rarity.

The penthouse is close to the Westminster Quay promenade and SkyTrain.

The Agent’s Take “New West Quay is changing so much,” says Mr. Watt.

“Last spring I sold a $2-million penthouse there, which is – I think – for 2013, the most expensive place sold in New West. So people are starting to look at New West as this place for new growth.

“If this penthouse was downtown, it would have been $3-million.”

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