Big comedown for Shaw Tower condo in Vancouver

1077 West Cordova St., No. 3803, Vancouver

Asking price: $4.999-million

Previous asking price: $6.98-million

Selling price: $4.5 million

Days on market: 36

Taxes: $17,137.80 (2020)

Monthly maintenance fee: $1,470.24

Listing agent: Ian Watt, Sutton Group, West Coast Realty

What they got

This 2,438 sq. ft. unit on the 38th floor in the Shaw Tower is actually two strata units that were combined. It has panoramic views of English Bay, Coal Harbour and Northshore mountains. The two-bedroom, three and a half bathroom condominium includes custom millwork, concrete floors, automated blinds, lighting and audio, two balconies and three-car private garage. The building allows pets and rentals.

The action

The sellers purchased the home in 2014 for $3.2-million and had tried to sell it with another realtor in 2018 with an asking price of $6.98-million, says listing agent Ian Watt. The sellers recently put it back on the market, deciding they want to live in a bigger home. Mr. Watt showed it to four parties and the buyers did their due diligence, waited a month, and presented a cash offer, which, he says, was smart. “It’s hard to say no when they send you an offer with a deposit ready to go within the hour. They were very organized.”

It is one of two sales downtown in that price range in the last 30 days, says Mr. Watt. The sale completes Sept. 21.

The agent’s take

The units in the building sell for around $2,000 a square foot, says Mr. Watt. “It’s a commercial grade building with two commercial tenants, including [billionaire] Jim Pattison. Everything is built to last. If someone like Bill Gates called me and said, ’I’d like to look at units in Vancouver,’ it would qualify. It’s that calibre of building.”

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