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1238 Richards St., unit 2801

Asking price $2,050,000

Selling price $2,050,000

Days on Market 90

Maintenance fees $934 a month

Year built 1999

Taxes $6,467 (2013)

Listing Agent Paul Albrighton, Re/Max

The Action: The luxury two-level property was originally listed at $2,168,000. The owners reduced the price to $2,050,000 after three months, which resulted in multiple offers and a successful sale at the new asking price.

What They Got: The penthouse loft was designed by award-winning architect Peter Cardew. He redesigned the 2,500-square-foot loft according to the owners' specifications, with an open-concept design, and double showers in the bathroom, gallery-style floating walls, exposed concrete pillars, recessed lighting, sliding wall dividers and wood panelling.

It has 16-foot ceilings, two balconies and panoramic views toward False Creek.

The Agent's Take: "The buyers are local and planning to reside there as their main residence," agent Paul Albrighton said.