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The Globe and Mail

Vancouver Shangri-La condo sells to second bidder

1111 Alberni St., unit 2705, Vancouver

The Globe and Mail


ASKING PRICE: $1.51 million

SELLING PRICE: $1.49 million

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TAXES: $3,685


LISTING AGENT: Paul Albrighton, Re/Max Crest Realty Westside

The Action Listing agent Paul Albrighton showed the unit to about 15 groups within the first week of listing. He received one offer that week that was too low for the seller.

The next day he received another offer and after some negotiation, the seller accepted the price. The seller purchased the unit as her primary residence in Septempber, 2015 for $1.09 million. The buyers sold their North Shore home to downsize.

What They Got This northeast corner unit has two bedrooms and nearly 1,100 square feet of space, with two bathrooms and a small den. The 61-storey Shangri-La tower was built in 2008 and the unit is in original condition, but has been well maintained, Mr. Albrighton says. It has a corridor view of the water.

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The Agent's Take The sale, at $1,354 a square foot, represents a 37-per-cent appreciation in just two years, which is higher than the average downtown condo in that price range, Mr. Albrighton said.

"The Shangri-La has become extra-desirable with [similar units in] nearby high-rises, including Trump Tower … selling at $1,700 to $2,500 a square foot."

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