The sky’s the limit when it comes to what luxury buyers can put into their high-end condominiums. But just what are the wealthy doing with their upscale digs?
Condo Living TV recently sneaked a peek at one of Calgary’s most opulent and exclusive condominium addresses – a 5,300-square-foot penthouse in LaCaille Parke Place boasting la crème de la crème of finishing and views.
“It’s a fully customized unit. Everything down to the baseboards and millwork, which was all milled on site,” says Nick Livaditis, with Maxwell South Star Realty.
The 5,300-square-foot suite, which spans an entire floor and lends panoramic views of the Bow River, Prince’s Island Park, mountains and downtown, recently sold after three years on the market. But just why would such posh digs in a highly-desirable location take so long to sell?
“It doesn’t cater to that many people. How many people need or want that much space?” says Livaditis, adding the address is likely only one of a handful in the Eau Claire area offering that kind of square footage.
The buyer, who Livaditis would only say was from Calgary and recognized the investment potential of this level of exclusive real estate, snapped up the luxury hotel-like suite for a cool $3.05 million.
“Calgary has a lot of disposable income and we’re finding people are accepting of luxury – our sales are reflecting that,” says Livaditis, who has also seen high-end addresses at Five West, another LaCaille Group venture fetch in the $1- and 2-million ranges.
Another 10th-floor suite sold the same week in the exclusive building for $1.8 million.
In addition to 10-foot ceilings, private elevator access to the suite, 10-inch baseboards and picture-frame mouldings, solid core, eight-foot doors flanking the entries of the eight rooms – including three bathrooms, formal and casual eating areas and a living room sized for a grand piano – the abode boasts floor-to-ceiling windows with special glazing and three balconies to maximize benefits of surrounding sights.
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The kitchen, custom-designed by the folks at Empire Kitchens and Bath, serves up opulence on the grand scale in a space that’s set for entertaining.
“It’s a beautiful kitchen built by Empire Kitchens and Bath and features commercial-convection grade ovens, two of them … we also have a plate warmer, high-end microwave,” says Livaditis, adding an imported dishwasher from Germany and a top-notch fridge are also on the menu in the elegant culinary hub.
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Meanwhile, since nothing but the best would do in a condominium at this level, commercial lighting, allowing as many as 40 different zones of the home to be programmed separately for illumination levels that suit the mood, and state-of-the art sound were also wired into the plans.
“What’s a kitchen without music – we’ve pulled speakers through here as well as the rest of the home,” says Livaditis.
Underfoot, rare Jarra hardwood from Australia and pure wool carpets were added, while limestone is awash in the main bathroom and ensuite bath that’s, of course, adjoining the penthouse’s opulent master bedroom.
Boasting intricately coffered ceilings, two of the home’s four fireplaces and an ensuite complete with heated floors, a steam shower, separate vanities, a bidet, and a 30-foot long walk-in closet, no detail was left untouched in the master chambers.
“It’s very decadent – it would rival the best hotel suites in the country,” says Livaditis.
But Lividitis says none of these up-market features are surprising when you start getting into this extent of luxury condominium design – a niche which he predicts is growing fast, buoyed by the hot, oil-rich Alberta economy.
“People want to see attention to detail and technology. They want to see millwork done by hands that have toiled for many tears, and imported marble and tile work,” he says.
Other upscale features owners in this building have added to beef up their quality of living include high-end entertainment and media centres with movable big screens, exposed beams in attic spaces, and decked-out billiards areas for entertaining.
“As long as there is life there will be this market,” says Livaditis. “The demand is certainly increasing, especially considering there is Zero per cent inventory above 3,000 square feet right now, and there were probably only seven or eight suites in all of Eau Claire spanning 5,000 square feet or larger ever built.”
For more hints and tips about buying and owning a condominium in Calgary, watch Shaw TVís Condo Living with Barb Mitchell, every Wednesday, Saturday and Sunday.
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