Want to Buy an $18 Million Downtown Condo

We all knew that Vancouver housing prices were expensive. A basic two-story detached house in Vancouver will fetch at least $700,000 these days. But that figure pales in comparison to what an unnamed Portland businessman paid for the 48th-floor penthouse suite in the Private Residences at Hotel Georgia. For the 7,400 square foot unit, this guy with too much money on his hands forked over a record $18 million!

The kicker is that he can't even move in yet. The $400 million development near Georgia and Howe, attached to the historic Hotel Georgia (aka Hotel Vancouver), is scheduled for completion sometime in 2011.

Sotheby's International Realty Canada president Ross McCredie said the buyer wants to remain anonymous, but the Vancouver property will be one of several he owns throughout the world.

Several?!?! This guy must have found the tree where money grows.

Source: Vancouver Sun

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Want to Buy an $18 Million Downtown Condo

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