An incredibly valuable Vancouver home recently re-listed for $49,800,000 after a huge price drop is still looking for a buyer.
We previously reported on 4838 Belmont Avenue when it was listed for $59,800,000 last year.
The $10 million price drop is more money than many Vancouver residents will see in their lifetimes, and it still leaves the home at a price that is unobtainable for anyone but the financial elite.
Luxmore Realty
On BC Assessment’s list of most valuable properties, this Belmont Avenue mansion ranks in the top 10 at #7, with an assessed value of $39,769,000.
The listing says the home is located in the Point Grey neighbourhood and has over 12,000 square feet of living space. It has a grand entrance with an elevator and a “magnificent staircase.”
Other amenities include a video room, a wet bar, a wine cellar, a gym and a large rooftop deck with a fireplace. The home also offers views of the ocean, mountains and the city. The main floor also features an Italian marble floor.
Sadly, we can’t take you inside this nearly brand-new Vancouver mansion or show you the staircase, as the only photo on the listing page is a shot of the exterior.
The home was built in 2022, and the previous property sold in 2018 for $17,000,000.
After the new home was built, it was first listed in September 2022 for $59,800,000. Two subsequent listings at the same price expired before a price drop in November 2023 when it was listed for $55,800,000. That’s also when Luxmore Realty took over as the listing agent, taking over from Macdonald Realty.
That listing expired this May before being re-listed, again by Macdonald Realty, for $49,800,000. That listing expired in August before being re-listed for the same price, switching back to Luxmore Realty as the listing agent.
BC Assessment says the land value is $14,621,000, while the building is $25,148,000.
Zealty’s mortgage tool says that with a five-year fixed mortgage with a 20% down payment, your monthly mortgage would be roughly $231,000.
How many years of your life would you have to save up to afford this home?