A suite at the Paradox Hotel, formerly the Trump International Hotel 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 recently sold for $899,999, which came in below the assessed value of $1,050,000.
This suite sold for $1,255,000 in 2017. The purchaser’s broker was Hazem Sultan 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 closing in 2020, the new Paradox Hotel officially opened in 2022. The Georgia Street hotel was deemed a flagship location for the brand-new Paradox Hotel Group.
The eight-year-old suite, located on the 27th floor, features just one bedroom and one bathroom and is 640 sq ft in size.
Sutton Group-Alliance R.E.S.
The tower itself was designed by renowned Canadian architect Arthur Erickson. The suite features many high-end appliances and finishing touches.
Sutton Group-Alliance R.E.S.
Surprisingly, some of the rooms feature carpets, which we’re not used to seeing in high-end Vancouver towers like this one.
Sutton Group-Alliance R.E.S.
Four prior listings, all for over $1 million, failed to attract a buyer until the recent sale.
Sutton Group-Alliance R.E.S.
The suite was first listed in March 2021 for $1,249,000. The price was dropped for the following listing in January 2022 ($1,079,900).
Sutton Group-Alliance R.E.S.
In 2022, due to changes in the market and a slight recovery from conditions created by COVID-19, it was listed slightly higher at $1,249,000. In 2023, it was listed for $1,099,000, but that listing expired in March 2024. Finally, the most recent listing went up in June 2024 for $988,888. A price drop to $899,999 was able to attract a buyer.
Building amenities at the Vancouver hotel include a clubhouse, pool, rec centre, sauna and steam room, and 24-hour concierge.