Remember the Point Grey cube house?
The distinctively-designed home at the corner of Point Grey Road and Alma Street was polarizing—some people loved the design, while others hated it.
Now the unique home has finally found a buyer, but without its owners taking a big hit, settling for a little over half of the original asking price.
The home was first listed in June 2017 for $14 million at the height of Vancouver’s real estate market, when sales of luxury homes were strong.
Two months later, it took a $1.25 million price cut and was reduced to $12.75 million.
Nearly one year later, on July 26, 2018, the home sale closed, with a sale price of $7,950,000.
That’s over $6 million less than the original asking price. Ouch.
The 2,280 sq. ft. home at 3691 Point Grey Road on Vancouver’s “golden mile” was designed by architect Tony Robins.
Metro Vancouver’s real estate market has slowed dramatically in recent months, with home sales at an 18 year low. New provincial government measures such as the 20 per cent foreign buyers tax, and higher mortgage interest rates have significantly cooled the market.