One of Vancouver's most exclusive penthouses has witnessed a staggering price reduction of nearly $20 million since its initial listing, making headlines across Canada’s competitive real estate market.

Originally listed in 2017 for a jaw-dropping $58.8 million, this luxury condo located at 277 Thurlow St, also known as Three Harbour Green, has yet to find a buyer despite its premium status. After a lackluster response, the price was adjusted to $49 million a few years later, but it still failed to attract clients.

Now, the property is back on the market, this time listing for $39.88 million—an eye-watering $18.92 million less than its original price (and that’s without even considering inflation!). Interestingly, this cut could be enough to purchase two additional units in the same opulent building!

Real estate records reveal that the penthouse last sold in 2014 for $16.6 million, just two years after its construction. Currently, the British Columbia Assessment has valued the property at approximately $25.9 million, which raises questions about its market pricing.

So, what does $39.88 million actually offer?

This extravagant penthouse spans the entire top floor of the 31-storey building, featuring five bedrooms and four bathrooms. The living space is a massive 8,000 square feet, complemented by an additional 4,800 square feet of outdoor space, which includes a serene 'zen garden'—a unique feature certainly not common in Vancouver's real estate. Additionally, the penthouse boasts impressive 20-foot ceilings, enhancing its sense of grandeur.

But the most jaw-dropping aspect of this property is undoubtedly the breathtaking views it commands, stretching across Vancouver’s picturesque harbour. Residents can gaze upon iconic sights including Stanley Park, the majestic North Shore Mountains, and the glistening waters of English Bay.

Included with the penthouse are lavish amenities such as a seven-car garage, three storage rooms, and full access to the building's luxurious facilities, which feature a concierge service, an indoor pool, a squash court, and much more.

Given the significant price cut and top-tier features, will this penthouse finally attract a buyer? With the current market dynamics and the unique value proposition, potential buyers should certainly take notice before this opportunity vanishes!