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done deal

Oleg Solodchenko/Oleg Solodchenko/Inframe Films

2910 Park Lane, West Vancouver, B.C.

Listing price: $24.8-million (February, 2022)

Selling price: $21.5 million (August, 2022)

Days on market: 160

Taxes: $65,691.78 (2021)

Buyer’s agent: Jesse Dean Cook, Engel & Volkers

Listing agents: Holly Calderwood, Brock Smeaton, Royal LePage Sussex.

The house has an open concept living area with ample wood finishings throughout, in-floor heating and floor-to-ceiling windows with unobstructed views of the ocean.Oleg Solodchenko/Oleg Solodchenko/Inframe Films

It took five years to build this concrete oceanfront house, completed in 2008. The contemporary three-level has 8,686 square feet of living space on a half-acre lot in the tony West Vancouver neighbourhood. It has an open concept living area with ample wood finishings throughout, in-floor heating and floor-to-ceiling windows with unobstructed views of the ocean. There are five bedrooms, each with an ensuite bathroom, and two more bathrooms elsewhere in the house. There is a terraced garden, infinity pool, heated decks and hot tub. The house has net-zero emissions capability, walls that are three-feet thick in places, a state-of-the-art geothermal heating and cooling system and back-up power. There are three laundry rooms and a professional recording studio.

“You couldn’t build this house [today] for the price it sold for,” says listing agent Holly Calderwood.

The Action

The house was originally listed for sale last October with an asking price of $26.8-million. In February, the sellers reduced the price to $24.8-million and relisted, and in May an offer was made subject to the sale of the buyer’s house, which tied up the property for a few months. But on the day that offer lapsed, other offers came in. The winning bid was from a buyer who’d been waiting to make an offer since June. The sale is the highest price paid in West Vancouver this year, according to Ms. Calderwood.

“In this market, there is still a lot of local money here and not enough good product for people with money. Imagine you’re superrich, you need to buy a house. What are you choices? There are quite a few of those people here in Vancouver. Since we sold Park Lane, I’ve got at least five people, minimum, who are looking for the same type of house.”

The Agent’s Take

Ms. Calderwood said when properties are at this price, she has to ensure that the purchaser fully intends to close on the deal. If money is tied up overseas, the deal can fall through. Because the buyer was local, she knew the money was already in the country, and so they took the lower offer even though there were other interested parties. That assurance is almost more important than getting a full-price offer, she says. Some buyers will even be asked for proof of funds.

“You have to know the money is here, that’s very important.”

There is a terraced garden, infinity pool, heated decks and hot tub.Oleg Solodchenko/Oleg Solodchenko/Inframe Films

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