Rennie and Associates Realty Ltd.
889 Pacific St., No. 3801, Vancouver
Asking price: $8,888,900 (May 1, 2022)
Selling price: $8,888,900 (Aug. 22, 2022)
Days on market: 113
Taxes: $34,169 (2022)
Listing agents: Amy Chan & Tracie McTavish, Rennie & Associates Realty
Buyer’s agent: Phil Chang, Rennie & Associates Realty
The Action
The 2,791-square-foot sub penthouse is on the 38th floor of the 39-storey Pacific tower in the heart of downtown Vancouver.Rennie and Associates Realty Ltd.
The Pacific tower received its occupancy permit in July 2021, and 25 groups toured the new unit. A local buyer made the purchase, which completed in October.
“The offers coming in today are vastly different from the swift market that we saw even as recently as a few months ago, with buyers offering quick closes, subject free and top dollar,” says listing agent Amy Chan.
“Although this particular listing is considered a niche market based on the price and size of the condo, this is a testament that there are active buyers looking.”
What They Got
This sub penthouse on the 38th floor is at the newly built 39-storey Pacific by Grosvenor. It has 2,791 square feet of living space, with four bedrooms and three bathrooms, a powder room, laundry and family room.
The 405 square-foot balcony spans the width of the unit, with unobstructed city and ocean views. The bedrooms are big enough for a king-size bed and the floors are heated.
The kitchen is outfitted with a Sub-Zero fridge and wine fridge and has Italian millwork. Integrated home technology includes black-out blinds.
There is only one other neighbour on the floor, and a total of 224 units in the LEED certified tower. Located at Pacific and Hornby Streets, the unit is in the heart of downtown.
The unit incudes three bathrooms and a powder room.Rennie and Associates Realty Ltd.
The Agent’s Take
“Buyers are actively looking despite the fear of interest rate increases,” said Ms. Chan. “The sentiment from buyers is that the market has dropped much more than the data shows, showing a lack of confidence in the market. I have heard numbers upward of 25 per cent [drop], but in reality, for the Vancouver region, price declines show 5 per cent compared to the previous month of August and 3 per cent comparative to the same time last year.”
The 405 square-foot balcony has unobstructed city and ocean views and spans the width of the unit.Rennie and Associates Realty Ltd.