4743 Belmont Ave., Vancouver
Asking price: $58-million
Selling price: $42-million
Previous selling price: not available
Days on market: Undisclosed
Taxes: Upwards of $200,000
Listing agent: Christa Frosch, Sotheby’s International Realty Canada
The mansion belonged to prominent philanthropists Joseph and Rosalie Segal.
Because it’s an exclusive market that demands privacy, details of the sale are not public, listing agent Christa Frosch said. She would not say how long the home took to sell, but there are previous reports that it had been on the market in 2017 for $63-million.
The house was listed privately, and about 30 parties viewed it. The buyer is listed as a numbered company, with its sole director being the founder of Vancouver-based Primacorp Ventures, Peter Chung. The $42-million sale price represents the highest selling price of a home on a single-family lot in Greater Vancouver, according to Sotheby’s. The deal completed some time in July.
“On a global level, when you think about what Canada has to offer versus other countries, we are still very reasonably priced for luxury, safety and privacy,” Ms. Frosch said. “I think that’s a really good thing to keep in perspective.”
What they got
Built more than 20 years ago on a 1.3-acre lot, this nearly 22,000 square-foot house has five bedrooms and 12 bathrooms. And inspired by French royalty, the place comes with a sweeping staircase, massive crystal chandeliers, plaster ceiling mouldings and columns, polished stone floors, and a garden inspired by the Palace of Versailles.
It also offers spectacular views of the North Shore Mountains, which is what makes Point Grey one of Vancouver’s priciest neighbourhoods.
“When you own a home in this price point, buying the home is only part of it because you have to keep it up at a high level,” said Ms. Frosch. “So the operating cost of a house like this is a lot.”
The agent’s take
“I think our pricing will only continue to go up,” said Ms. Frosch. “I think as far as local people within Canada moving from provinces, they are looking at opportunities.
“And on a global level, we are a very [well] thought of country and it will continue, our pricing and demand for homes, and luxury homes, in particular.”
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