Another record has been set in the crazy Vancouver real estate market – the almost 22,000-square-foot residence known as Belmont Estate, on a 1.28-acre property in the West Side of Vancouver, is now the region’s highest single-family residential sale on a single lot.
It was listed privately for $58 million but the sold price and time on the market were not disclosed.
Listing agent Christa Frosch of Sotheby’s International Realty Canada says it attracted a steady stream of local and global buyer inquires but was purchased by a local Canadian family. She says there’s a new trend – instead of downsizing, buyers are purchasing bigger properties so they can spend time with family.
Belmont House fits the bill. It has five bedrooms, 12 bathrooms and an elevator to serve all three levels. An Italian-inspired kitchen with a fireplace, a dining room that seats 20, a spacious living room and two main gallery halls with seating for up to 100 guests for private events make the space perfect for entertaining, just what the new buyers wanted. They will use the home for entertaining and philanthropy, Frosch says.
The residence was designed by Ernest Collins Architect. An Italian Ormulu chandelier lights the grand staircase. The doors throughout are high-quality solid wood and the walls and ceilings feature murals and artwork.
An indoor pool and sauna, an in-law suite with a separate entrance and a six-car garage are other highlights.
It took five years to build the home, which Frosch describes as timeless and tastefully done.
The gardens were inspired by The Palace of Versailles in Paris and feature tiered gardens, a hobby orchard and an expansive terrace from which to enjoy the blooms.
The property has views of Spanish Banks, the Strait of Georgia, West Vancouver, Downtown Vancouver and the North Shore Mountains. The home is on Belmont Street, which has large lots and privacy, yet is conveniently located near a university, golf course, trails for walking and the beach. “Everything is within 15 minutes,” says Frosch.
Markets are strong because due to COVID-19, people have had to reflect on life and what is important, she says. “It’s an interesting side effect.”
“The Vancouver market has seen unprecedented demand for conventional and luxury single-family residences this spring, and this unprecedented sale is reflective of the heightened activity we are seeing across the region as a result,” says Kevin O’Toole, managing broker with Sotheby’s International Realty Canada in greater Vancouver, in a news release announcing the sale.
- This story was corrected from the original to statee that the house is located in the West Side of Vancouver, and not in the municipality of West Vancouver.