Strata wind-ups

STRATA WIND UP SALE!

 

$55,000,000

 

 

https://www.realtor....-avenue-burnaby

 

Prime Metrotown district suited perfectly for high rise residential. Besides an amazing location, the site area 52,539 SF allows for a development that can provide a mixed use of residential types such as Market Condo, Market Rentals and Non Market Rentals. Concept from James Hancock Designer (former Design Director of IBI GROUP Architects) that would allow twin towers on a podium.

 

Concept and Densities all to be verified with City of Burnaby.

 

Existing Building: Consists of 59 strata units. 3 Storey building built in 1975. Owners are 80% plus in favour of a Sale.

 

Edited by Victoria Watcher, 15 July 2024 - 01:45 AM.

So running the numbers above, roughly in simple numbers, each current owner on average gets $932,000 (less fees, legal etc.).

 

Here is one for sale now (the only one in the building, currently listed):

 

 

https://www.realtor....-avenue-burnaby

Edited by Victoria Watcher, 15 July 2024 - 01:53 AM.

I’d guess perhaps each owner swings a 10-20% premium over what they could get on the open market if this sells? Maybe come out ahead a bit after buying whatever to replace your home.

Probably higher actually as the highest value I could find there was maybe 800k for a 2 bd

I just used a very sinple average. Results might vary.

Check with your doctor.

Edited by Victoria Watcher, 15 July 2024 - 01:03 PM.

I was hoping this would happen at Parkside Place but given the size of it all I’m guess the math doesn’t work.