### Vancouver Penthouse Suite Linked to Royalty: A Market Overview
After an impressive three-month listing period, a remarkable penthouse suite in Vancouver, steeped in connections to royalty, has had its status changed to expired. Nestled at 1011 West Cordova St., this luxurious property captured attention due to its opulence and fascinating ownership background.
### The Listing Details
Originally listed for sale in January at a staggering price of $21 million, the penthouse was removed from the market just 72 days later in April. The brief duration raised eyebrows, particularly given the suite’s high-profile connections. According to Zealty, the unit was owned by Leemar Investments FZE, a venture capital firm based in Dubai. This firm is reportedly overseen by the director general of the Office of H. H. The Crown Prince of Dubai, which added an additional layer of intrigue to the property.
### Architectural Elegance and Space
This penthouse isn’t just about its ownership; the sheer scale and design set it apart. Spanning an impressive 6,480 square feet, the suite boasts breathtaking views of Vancouver. Sotheby’s International Realty Canada has aptly referred to it as the “crown jewel of downtown.” Features like soaring ceilings and ample windows fill the space with natural light, making it both inviting and striking.
Inside, the penthouse comprises three elegantly appointed bedrooms and four sophisticated bathrooms, paired with a spacious living area ideal for entertaining.
### The Rooftop Retreat
What truly makes this penthouse a standout is its dramatic rooftop deck. This private oasis not only adds to the living area but also brings an additional 2,582 square feet of luxurious outdoor space. Imagine hosting gatherings or simply enjoying a sunset against the stunning backdrop of downtown Vancouver—an experience truly deserving of its prestigious address.
### Financial Insights
Despite its allure, the $21 million listing price may have posed challenges. Current assessments from BC Assessment indicate the property is valued at $16,240,000, meaning a sale at the listed price would have represented a significant loss for the owner, who originally purchased it for $23 million back in 2013.
### A Royal Connection
Intriguingly, this penthouse forms part of a collection of four properties within the Fairmont building that are linked to the prince. This is the only property for which the listing status has been reported as canceled. The combined value of all four properties exceeds $40 million, underscoring their desirability and unique appeal.
### The Future of the Listing
As of now, speculation abounds regarding when and for how much this penthouse will be relisted. The luxury real estate market in Vancouver remains dynamic, and it will be interesting to see how this high-profile property navigates its next chapter.
