$63M iconic mansion sets Vancouver real estate record
Published Thursday, June 22, 2017 3:26PM PDT Last Updated Thursday, June 22, 2017 3:45PM PDT
An ornate mansion owned by a pair of longtime Vancouver philanthropists has just entered the record books as the most expensive real estate listing in the city's history.
The 21,977-square-foot Belmont Estate, which sits on 1.28 acres of land among Vancouver's priciest properties in Point Grey, was just listed for $63 million by Sotheby's International Realty Canada.
In Pictures: Tour this $63-million iconic estate
The listing price is nearly $23 million higher than its most recent property value assessment, which was $40 million.
Murals and artwork adorn the estate, and all three floors are connected by an elevator.
The palatial home boasts two gallery halls with seating for 100 guests, to host private events and concerts. There's also an indoor pool, six-car garage and 12 bathrooms.
The opulence of the home does not stop inside. A three-level yard inspired by the French gardens of Versailles features a hobby orchard and extensive hedging. In the spring, over 12,000 tulips, hyacinths and daffodils bloom throughout the gardens.
Assuming the buyer put down a 20 per cent down payment, the $50-million mortgage would equate to a $228,040 monthly payment, according to figures from a Ratehub.ca payment calculator.
That's in addition to the $3,122,950 Property Transfer Tax required by the B.C. government on the sale.
Realtor Christa Frosch says the property is a rare opportunity to own a home that is iconic to Vancouver and British Columbia.
"The fact that its long-standing owners are beloved in our community for their philanthropic dedication to the City of Vancouver only adds to the home’s heritage," she said in a statement.
"I believe that the buyer of this home will have a passion for art, history, luxurious landscapes and timeless design.”
Owners Joseph and Rosalie Segal are longtime philanthropists, and recently donated $12 million towards a new mental health and addictions facility at the Vancouver General Hospital. The new eight-storey facility opens this fall.
In 2002, Joseph Segal and his family donated the former Bank of Montreal heritage building in downtown Vancouver as the home for the renamed Segal Graduate School of Business at Simon Fraser University.