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Price trimmed on False Creek penthouse Add to ...

251 7 TH AVE., PH 2, VANCOUVER

ASKING PRICE $888,000

SELLING PRICE $875,000

PREVIOUS SELLING PRICE $699,900 (Feb. 2012)

TAXES Not yet assessed

DAYS ON THE MARKET 110

LISTING AGENT Will McKitka, Macdonald Realty Ltd.

The Action: Despite the misgivings of agent Will McKitka, the owners of this two-bedroom penthouse listed it for $928,000 last summer. After fruitless months, an offer of $875,000 was made early this year – subject to the sale of the buyer’s property. Luckily, that task was accomplished a few weeks later, just after a price reduction to $888,000.

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What They Got: In the District residence built last year, this more than 1,060-square-foot, corner suite was lavishly outfitted with 10-foot ceilings, walls of windows and sliding doors in every room to a 1,300-square-foot wraparound terrace overlooking False Creek and the downtown core.

The two bedrooms and two bathrooms offer privacy from a completely open-concept entertaining, dining and cooking space with engineered hardwood floors and a Caesarstone-topped island.

Two-car parking and a locker come with the unit, with monthly fees of $451.

The Agent’s Take: “People were buying a massive outdoor terrace with a small penthouse attached to it,” Mr. McKitka says jokingly, likening the terrace size to one for a $4-million penthouse rather than the building’s standard five– by ten-foot balconies.

“The view was substantial at the south and west corner, the sunniest and warmest for Vancouver, which is a big deal, and most importantly … looked over the downtown peninsula and water.”

Buyers also liked the new feel of the unit and its surroundings. “It’s in an up-and-coming neighbourhood on the Main Street corridor … with a lot of funky coffee shops, restaurants, second-hand and boutique shops, yet you’re five minutes to downtown,” Mr. McKitka adds.

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