Zoon Media
400 Eau Claire Ave, S.W., No. 6301, Calgary
Asking price: $824,900 (March, 2023)
Previous asking price: $849,900 (January, 2023)
Selling price: $815,000 (March, 2023)
Taxes: $4,282 (2022)
Property days on market: 45
Listing agent: Christina Hagerty, Re/Max Realty Professionals
Walls of windows span each room in the two-bedroom condo in the exclusive Eau Claire building.Zoon Media
The action
This two-bedroom corner suite has a prized perch above the Bow River and Prince’s Island Park in downtown Calgary, but buyers were put off by its diminutive kitchen and ongoing construction outside the building.
Those factors blighted an otherwise frothy condo market.
“We’re seeing a lot of people who are cash buyers downsizing from their house into one-level living,” agent Christina Hagerty said.
“The biggest reason for its length on the market – despite an amazing condo market – is a small kitchen, and talk of the Green Line, Calgary’s latest LRT system, which is being constructed next to the building.”
In its first six weeks on the market, enquiries came in from buyers in British Columbia and Ontario, but no offers. But when the asking price was dropped from $849,900 to $824,900, another owner in the gated community made an offer of $815,000 and sealed the deal.
“Eau Claire is basically the Coal Harbour of Calgary because Prince’s Island Park is like our Stanley Park,” Ms. Hagerty said.
“The river walkway path is quite amazing, so this is one of those buildings where once people move in, they don’t leave.”
The kitchen has bar seating, but the small size put off potential buyers.Zoon Media
What they got
The building, one of four in the Prince’s Island Estates community, is 28 years old. This 1,618-square-foot unit occupies an entire building floor and has two foyers, one of which has access to a semi-private elevator.
Walls of windows span each room, with a balcony between. The dining area is warmed by a fireplace.
The kitchen has bar seating along the peninsula. There are two full bathrooms and a laundry room.
Two parking stalls are included. Monthly fees of $1,199 cover water and electrical costs.
The corner suite overlooks the Bow River and Prince’s Island Park in downtown Calgary.Zoon Media
The agent’s take
“Four-hundred Eau Claire was built in ‘95 and attracts the ‘Who’s Who’ of Calgary because it was one of the original Eau Claire, high-end properties,” Ms. Hagerty said.
“This is a small low-rise where there are only five units, so the elevator only caters to five units.”