This week, some expensive properties, including a penthouse described as the “crown jewel” of downtown Vancouver, were listed for sale and they happen to be connected to some esteemed royalty.
The most expensive unit that went up for sale is the main penthouse suite at 1011 West Cordova Street, a condo at the very top of the Fairmont Pacific Rim.
Daily Hive Urbanized pulled up the title for the penthouse, and the owner is listed as Leemar Investments FZE, a venture capital firm based in Dubai, which, according to international law firm Mayer | Brown, is managed by the director general of the Office of H. H. The Crown Prince of Dubai.
Four properties, part of the Fairmont Collection at 1011 West Cordova Street linked to the prince, are listed for sale. It’s easy to see why Sotheby’s International Realty Canada calls PH1 the crown jewel of downtown Vancouver.
The property has been listed for an amount only a prince or Chip Wilson could afford.
Sotheby’s International Realty Canada
PH1, currently listed for $21 million, is stunning. Whether it’s stunning enough to cost $21 million is your call.
Sotheby’s International Realty Canada
The penthouse features incredibly high ceilings and so many windows that allow natural light to flow throughout the unit. It has three bedrooms, four bathrooms, and a spacious 6,480 sq ft living area.
Sotheby’s International Realty Canada
There are also views like this from the comfort of a luxurious bathtub fit for a prince:
Sotheby’s International Realty Canada
Robert Bailey designed the interior, and Sotheby’s describes the primary suite as “sublime,” including an expansive dressing room and elegant spa ensuite.
“The dramatic rooftop deck and private walk-out terraces add an additional 2582 square feet of luxury living at downtown Vancouver’s most prestigious address.”
Sotheby’s International Realty Canada
While $21 million might seem like a lot of money, it’s technically a loss for the prince’s investment firm, considering it was purchased for $25,000,000 in 2013. The asking price is way above the current assessed value, which BC Assessment has listed at $16,240,000.
Sotheby’s International Realty Canada
The other three properties that make up the Fairmont Collection are three sub-penthouse units, with the value of all four units totalling $44,500,000.
Over the past decade, the prince’s travels in Vancouver have been well documented in the news and social media. Daily Hive told readers he was in Vancouver to celebrate New Year’s Eve in 2015. He is also very active on social media, with nearly 17 million followers on Instagram.
If you had prince money and could afford the $21 million price tag of the “crown jewel” penthouse unit on a standard five-year fixed-rate mortgage with a 20% down payment, you’d be paying nearly $100,000 monthly.
Does it surprise you to know that Dubaian royalty owns property in Vancouver?