A suite at the Paradox Hotel, formerly the in Vancouver, recently sold for $899,999, but the 2017 sold price makes this sale particularly interesting. Suite 2703 at 1151 West Georgia Street was sold within the last two weeks well below the assessed value of $1,050,000 and even lower than the 2017 sale price of $1,255,000. The purchaser’s broker in the 2024 sale was of Re/Max Crest Realty, and his team believes this sale highlights the “ongoing volatility” and “dynamic nature” of the Vancouver market, particularly the luxury condo segment.
“It’s a rare example of a notable loss in a market that has generally seen strong price growth,” Re/Max Crest Realty told Daily Hive. After losing its Trump branding and officially , the new Paradox Hotel officially . The Georgia Street hotel was deemed a flagship location for the brand-new Paradox Hotel Group.
The eight-year-old suite, listed by the Sutton Group, is located on the 27th floor. It has one bedroom and one bathroom and is 640 sq ft in size. The tower itself was designed by renowned Canadian architect Arthur Erickson.
The suite features many high-end appliances and finishing touches. Surprisingly, some of the rooms feature carpets, which we’re not used to seeing in high-end Vancouver towers like this one. Four prior listings, all for over $1 million, failed to attract a buyer until the recent sale.
The suite was first listed in March 2021 for $1,249,000. The price was dropped for the following listing in Januar.