Sotheby’s International Realty Canada
4B Otter Lane, Banff, Alta.
Asking price: $869,000 (March, 2020)
Selling price: $840,000 (January, 2021)
Taxes: $3,762 (2019)
Days on the market: 318
Listing agent: Christopher Vincent and Laura Wright, Sotheby’s International Realty Canada
The action
This two-bedroom, stacked townhouse near downtown Banff opened its doors to buyers just as tourism and travel operators shut theirs at the onset of the pandemic. A trickle of low-ball offers were submitted and rejected before the asking price was trimmed to $854,000 in November.
Renovated kitchen with granite countertops and Bosch and Miele appliances.Sotheby’s International Realty Canada
“If you picked this up and moved it to Canmore, which is 20 minutes down the road, it would have sold in a month,” said agent Christopher Vincent.
“Because the town of Banff is regulated by the national park, anybody can purchase in Banff, but the use is restricted to someone owning a business or working in the park.”
Freestanding bathtub in five-piece ensuite.Sotheby’s International Realty Canada
After the new year, several offers materialized simultaneously, including one from a previous bidder. “A lot of product in Banff had come off the market, so there wasn’t a heck of a lot out there,” Mr. Vincent said.
“[In the complex] it’s the highest sale in there by $130,000.”
What they got
The 22-year-old Tatanga II condo complex sits on a short cul-de-sac off Tunnel Mountain Road. The 1,590-square-foot upper unit benefits from south and west-facing windows and balconies facing the beautiful Norquay and Cascade mountains.
Balcony windows overlook the beautiful Norquay and Cascade mountains.Sotheby’s International Realty Canada
The open principal room features a gas fireplace and vaulted ceilings, as well as a newly revamped kitchen with knife-edge granite countertops and Bosch and Miele appliances.
Directly above is a loft-style media space and remodeled bedroom with heated floors, massive stone slabs and a freestanding tub in the five-piece ensuite.
A gas fireplace sits in the principal room with vaulted ceilings.Sotheby’s International Realty Canada
Monthly fees are $493.
The agent’s take
“Tatanga II is a nice development, but no one has done a renovation like this,” said Mr. Vincent. “It’s pretty spectacular, and it was a townhouse with the best views in town.
“Plus, there’s an exterior storage area almost as big as the garage … with room for bikes and skis.”
Sotheby’s International Realty Canada
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