Vancouver Shangri-la Condos Selling Well
September 26th, 2009 Categories: Downtown, Shangri-la Condos, Vancouver Real Estate
Vancouver’s Shangri-la Hotel/Condo building is located at 1128 West Georgia and at 61 storeys is the tallest building in Vancouver and the 11th tallest in Canada. It opened in November 2008.
The luxury boutique hotel only occupies the first 15 floors and is, of course, an international brand name. 16th to 45th floors are 227 live/work condos with a lobby at 1111 Alberni. To date there have been 29 sales and currently there are 9 listings. 670 sq.ft. l bedroom listed at $600,000 and 1000 sq ft 2 bedroom listed at $1,230,000. The 2 bedrooms range from 1000 to 1600 sq ft. The re-sales are selling for 40-50% more than the pre-sale price in 2004. Average sale price is $850 pr sq ft.
The Shangri-la Estates occupy the 46th to 61st floors, with 3 penthouses on the top floor, and enjoy the concierge services offered to hotel guests, including an exercise room, sauna, movie theatre, private dining room, outdoor pool and jacuzzi. In additon you are welcomed to enjoy Shangri-la’s Chi Spa, Market Restaurant featuring 3 star Michelin Chef Jean Georges from France and shop at Urban Fare. There have been seven re-sales and currently there are 5 listings. The suites are 2200-2500 sq.ft., selling in the mid to high $2M range ($1200 pr sq ft). There are three 2 level condos on the n.e. corner, 4500 sq.ft. with 18 foot ceilings and amazing views (as per the above picture). My listing at 5303-1128 west georgia is one of these unique spacious 2 level condos and is listed at $5,680,000. We have had offers but not found the right buyer yet.
The luxury condo market in Vancouver is now picking up some momentum and has been lagging the lower priced condos. The first resale in the Estates was in April. There have since been another seven sales and only four currently for sale. The most expensive is my listing on 53rd floor which is over 4500 sqft and is 2 levels with 18ft ceilings. Although we have had offers on this property we have not found the right buyer yet. $5,690,000.
when you’re ready to buy or sell your vancouver shangri-la condo, contact Maggie, an experienced realtor since 1981.
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Absolutely stunning property. Best of luck with your listing!
Comment by Glynn Williams — September 30, 2009 #
The Shangri La sounds like an amazing place to live. What a perfect location!
Comment by Paul Albrighton — October 1, 2009 #