‘PARADISE,’ FOR A PRICE
North Van abode up for $36.2 million
West Vancouver is more known for its luxe mansions, but the owners of a North Vancouver estate-style property off Indian River Crescent in Deep Cove are vying for some attention listing theirs for sale at $36.2 million.
It would be a reputed record price for North Vancouver on the Multiple Listing Service, according to listing realtor Sotheby’s International, and the asking price tops anything listed in West Vancouver or most of Metro Vancouver for that matter.
Although Joseph and Rosalie Segal’s unsold Belmont Avenue home in Vancouver — which the couple listed privately with Sotheby’s in June — is still pricier with an asking price of $63 million.
The property at 2250 Indian River Cres. boasts a 9,500-square-foot West Coast-style home that rests on 5.7 hectares of forest-fringed and manicured property, comprised of three separate lots, that have been held by one owner since about 1985.
“It’s quite surreal,” said Sotheby’s realtor Steve Mitchell. “It’s like being in the middle of a private park and all you hear are the birds. You see nothing else, yet you are 20 minutes from the city.”
And in a property market seized with debate over whether the city is in a bubble, Mitchell’s observation is there has been renewed interest at the top end of the luxury market.
Mitchell said the Indian Crescent listing has already sparked interest and “it’s been offshore buyers and local buyers.
“At the end of the day, there’s a good chance it will be a local buyer who just wants their own piece of paradise, although the value will be in the land down the road,” Mitchell said because of existing zoning on the estate’s three separate properties.
The property stands out in a surrounding neighbourhood where sellers are listing well beneath that level with prices of just under $2 million on Panorama Drive or $1.9 million on Cliffwood Road.
In North Vancouver generally, the average price for a typical single-family home sold in the city and district is $1.7 million, compared with $3.1 million in West Vancouver and $3.6 million on Vancouver’s pricey West Side.
There was a greater degree of uncertainty in the mansion trade earlier this year, according to a Sotheby’s-commissioned report, due to B.C.’s 15 per cent foreign buyers tax and a general slowdown in the market.
However, Mitchell said he has observed a marked increase in sales over the last six months.
The 2250 Indian Cres. property is listed in the name of Charles Andersen, a prominent North Shore businessman who Mitchell said is selling so he and his wife can move on to the next stage of their lives.
The custom-built home was designed with a blend of West Coast architecture and Japanese influences and spans two levels with four bedrooms, five bathrooms, six fireplaces, expansive patios and a large kitchen.
There is also a guest house on the property as well as a 12-stall barn, paddock and greenhouse nestled in a forested setting of lush foliage with natural and man-made water features.