Construction has yet to begin on The River, the 15 storey development that will house the 5,260 square foot, multi-million dollar suite. The super classy project is located, as its name would suggest, along the Elbow River which flows through the southern part of the city.
According to an article published in the Financial Post, “more than $30 million in real estate has been spoken for in the project, which includes 38 residences — 27 units in the tower and 11 town houses.”
The River boasts an array of pricey suites, including units for $5.7 million and $5.5 million. There’s even a suite that would break the price record again, currently on sale for $9 million. The previous record for a condo sale price in Calgary was $4.1 million in 2011.
Anne Clark, the director of sales for The River, commented that the sale “signifies we really do have a need for this type of product.”
As is often the case, the buyer was not identified but is described as an oil and gas executive (not a big surprise).
This huge sale got us thinking about other record breakers we’ve heard about in the past couple of years. Last May there was the $28 million penthouse sold in Toronto’s Four Seasons Hotel and Private Residences, the London penthouse that sold for approximately $157 million, the most expensive house in Canada that’s listed at $39.9 million and the $12.2 billion house in Switzerland that faked us out in September.