Point Grey Teardown Sells for $11.3+ Million

V964377-1Point Grey Teardown Sells for $11.3+ Million

Point Grey Road, Vancouver, British Columbia, Canada

A teardown dating back to the 1940s has sold for close to $11,300,000 in the posh area of Point Grey in Vancouver, BC.  The 3,300 square foot home originally came on the market at a staggering $15.8 million before being reduced to $13.5 million.  Situated on a 8,308 square foot (0.19 acre) lot, the waterfront property is described as having panoramic ocean, city & mountain views, as well as private stairs to the “beach.”  (….and by beach they mean a giant 20’+ retaining wall and scattered rocks of various sizes).  How appealing.  The unwelcoming rock beach is quickly forgotten when you feast your eyes on those views…$11.3 million views.

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Using the information we already know we can roughly guess how much the palatial ‘lot’ right next door could potentially be worth.  The Point Grey tear down sold for around $11.3 million and the lot right next door is nearly four times the size.  This means it could be worth close to $42.2 million just for the land!  Once the sprawling mansion is finished it could worth well over $50 million.  As for the sale price of the teardown, it sold very close to the 2013 BC Assessment which came in at $11,340,900.  It wouldn’t be all that surprising if the owner of the sprawling neighbouring mansion purchased it for a little more privacy and green space.