Vancouver Tear Down Previously Offered At $14.889-Million Now Seeking $22.8-Million
3241 Point Grey Road, Vancouver, British Columbia, Canada, V6K 1B3
There is something seriously wrong with a city when a tear down on what is considered one of the most ‘prestigious’ streets in the city can increase in price by over $7.9-million in just a year. Last Summer you could have purchased 3241 Point Grey Road for the inflated price of just $14,889,000 – that’s chump change for investors in Vancouver. You can search the address and find several old listings still showing the property listed at $14.889-million, see here & here, today however if you want to get your hands on this quaint Tudor you’re going to have to fork over $22.8-million. How is that even possible? This is exactly what is wrong with Vancouver and what is ruining the local market. To my knowledge the property never even sold and the owners (from last year) are basing their new list price on this little nugget in the listing, “Recent sale on Point Grey Road further East sold for $22M.” This is absolutely mind-blowingly crazy. The small property is waterfront, but it’s not waterfront like you’re thinking, there is no beach and instead a large seawall rests against your backyard. What’s your take on this ridiculous price increase?