$28-million penthouse breaks Vancouver record

by Rob Peters | January 9, 2008 at 02:17 pm

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I'm not sure if this is the kind of record we should be breaking in Vancouver. Even a fraction of that would be better spent on the city's housing problem.

Downtown Vancouver's luxury condo market has shattered the $20-million price barrier, with a yet-to-be-built penthouse at 1133 West Georgia carrying a price tag of more than $28 million.

That's at least $10 million more than the record $18 million paid by an unnamed U.S. businessman last year for a 48th-floor penthouse in the Private Residences at Hotel Georgia, set for completion by 2011.

The $28-million-plus condo will occupy about 7,400 square feet on the 59th and 60th floors of the Residences at Ritz-Carlton development, also set for occupancy in 2011.