This highly promotable fact was embellished by listing agents who profiled the property with extensive interior and exterior pictures of a gaudy, ostentatious mansion.
One could argue it was all a brilliant marketing ploy.
An asking price which made it the most expensive home for sale in Canada along with accompanying pictures of an over the top palace... a sure-fire formula for worldwide media interest, right?
“Who’s going to buy this house?” Tsavdaris asked rhetorically. “A king of China will buy this house, or a Bollywood movie star will buy this house.”
More likely, a developer will buy the house and subdivide the property into three separate estates. In fact, there has already been some movement on it.
“We’ve had offers on it but unfortunately they haven’t come up to the price that’s wanted by the seller,” Tsavdaris said. “All the offers we’ve had have been from developers to build three monster homes there. But we’re hoping to find that one candidate from Bollywood or from China that would want to keep it as one property.”
"a rendering of what could be built on this property."
So how did that marketing strategy work out? Did the house ever sell?
- The February 2013 asking price was for $37.8 million.
- In March it was cut to $28,888,000.
- In April it was down to $19,888,000.
- And on Labour Day weekend the asking price was slashed to $12,888,000.
(And even at that it's asking price is still double the current assessed value)
Surely this has to be Canada's most reduced property now as Canada's most expensive listing now harbour's Canada's biggest price drop. Do you think the Vancouver Sun or Province will hype this fact in one of their gallery features now?
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