Jaw-Dropping Price Drop: Vancouver Penthouse Slashed by Nearly $20 Million!

Are you ready for a real estate shocker? One of Vancouver's most luxurious penthouse condos has seen a staggering price drop that has the housing market buzzing. This lavish property, located at 277 Thurlow Street, also known as Three Harbour Green, has been on the market for several years, and it looks like the owners are desperate to sell!

Originally listed back in 2017 for an astonishing $58.8 million, this penthouse quickly made headlines as one of the priciest residential listings in all of Canada. However, despite the jaw-dropping initial price, it failed to attract any buyers.

In a desperate attempt to snatch a buyer, the price was adjusted down to $49 million a couple of years later, but still, the luxurious condo did not spark interest from affluent purchasers.

Now, after several years and no offers, the penthouse is back on the market for a significantly more attractive $39.88 million. That's a staggering $18.92 million drop since 2017—all without considering inflation! To put that into perspective, this amount could easily buy two additional units in the same posh building.

For further context, records from REW indicate that this property last sold for $16.6 million in 2014, shortly after its construction, and it's currently valued by BC Assessment at $25.9 million. This latest price tag might seem like an irresistible deal, especially when you consider everything it has to offer.

What Does Nearly $40 Million Buy You?

So, what does nearly $40 million buy you in Vancouver? Brace yourself! This opulent penthouse spans an impressive 8,000 square feet of interior space, complemented by an additional 4,800 square feet of outdoor living space that boasts a tranquil "zen garden." The sheer size of the condo surpasses that of many homes in Vancouver.

Featuring five spacious bedrooms and four luxurious bathrooms, this penthouse is designed to provide an exclusive living experience that many can only dream of. If you're seeking vertical grandeur, you'll be pleased to know that the condo showcases soaring 20-foot ceilings—definitely not your average apartment!

But perhaps the most breathtaking feature of this incredible property is the panoramic view it offers. Positioned on the top floor, the condo provides an unparalleled vantage point overlooking Vancouver's iconic harbour. Residents can feast their eyes on stunning sights ranging from Stanley Park, the North Shore Mountains, to the serene waters of English Bay.

Luxury Amenities and Living Experience

This lavish lifestyle doesn't end there! The property comes with a seven-car garage, three storage rooms, and full access to a plethora of high-end amenities within the building. Picture having a concierge at your service, an indoor pool for those lazy weekends, and a squash court to work up a sweat—all in your backyard.

As Vancouver's real estate market continues to fluctuate, this penthouse is a shining example of the opulence available, even if the price had to be significantly reduced. Could this finally be the window of opportunity for the right buyer? Only time will tell!