THEVLIST - Fall 2010 Vancouver

VIRANI REAL ESTATE ADVISORS

FALL 2010

Virani is Vancouver. Vancouver is Virani.

604.695.1000

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Page Three

SEPTEMBER 2010 - Fall is the time for new beginnings, as students head back to school, holidays end and routine resumes. With the recent opening of our new Vancouver office, our company has its own milestone to celebrate. This is a natural extension for us, as we have helped our clients buy and sell real estate in Vancouver for two decades.

But our new Coal Harbour location will allow us to provide better service to those who live and work downtown. We are very excited about this new opportunity.

As widely reported, home sales in July were significantly lower than the same month in 2009.

Experts seem to agree that one factor was largely responsible: the H.S.T. Many buyers rushed to seal

VIRANI REAL ESTATE ADVISORS HEAD OFFICE THE BOULDERS THIRD FLOOR 2240 CHIPPENDALE ROAD WEST VANCOUVER, BC V7S 3J4 TEL 604.913.1888 FAX 1.888.812.2650

VIRANI REAL ESTATE ADVISORS VANCOUVER CENTRE THE FLATIRON 1280 WEST PENDER STREET VANCOUVER, BC V6E 2S8 TEL 604.695.1000 FAX 604.681.0256

their deals by the end of June to avoid paying the tax. Although we expect to see the numbers correct, the market has tipped towards buyers as prices have eased slightly.

Like the emerging Coal Harbour neighbourhood, our new office is bustling with energy. Please stop by and visit!

Sincerely,

Karim Virani

VIRANI REAL ESTATE ADVISORS NORTH SHORE THE VILLAGE AT PARK ROYAL J4-925 MAIN STREET WEST VANCOUVER, BC V7T 2Z3 TEL 604.913.1000 FAX 604.921.2650

VIRANI REAL ESTATE ADVISORS LONDON KNIGHTSBRIDGE 64 KNIGHTSBRIDGE LONDON, UK SW1X 7JF TEL 207.590.3100

® = Registered Trade Marks of Virani Real Estate Advisors All prices in Canadian dollars unless otherwise noted.

©2010 Virani Real Estate Advisors All rights reserved. This magazine and all the contents contained are protected by copyright law. It may not be reproduced, transmitted or stored in a retrival unit of any kind in whole or in part without the prior written permission of Virani Real Estate Advisors. This communication is not intended to cause or induce breach of existing agency agreements.

VANCOUVER

2501-1139 Cordova St.

PH1-1102 Hornby St.

Absolutely stunning 3 bedroom, 3,600-square-foot northwest corner unit in Two Harbour Green. This suite exudes the ultimate in waterfront condo living and boasts a Snaidero kitchen with top-of-the-line stainless appliances, 3 ensuited bedrooms, large outdoor living space, private garage and concierge services. $6,300,000 速

A boutique collection of 21 magnificent condominium residences by James Schouw & Associates, presented in collaboration with local and international artists as a one-ofa-kind "habitable art" installation in the heart of Vancouver.

Spaces unlike any other - internal volumes, angles, curves and circulation patterns - throw the status quo out the window. A truly exemplary, never-to-be-duplicated residence. $3,650,000

302-2285 Twin Creek Pl.

PH1-605 Clyde Av.

Welcome to "The Properties," a small enclave of exceptionally finished low-rise condominiums perched on a quiet Whitby Estates cul-de-sac. This 3-bedroom, 3.5-bath penthouse boasts spectacular panoramic views, upgraded Miele appliances, custom wine cellar and a massive entertaining patio overlooking downtown Vancouver. This is an excellent opportunity to downsize or to enjoy a carefree lifestyle. $2,499,000

Welcome to Watermark, a luxurious boutique residence surrounded by lush landscape and centrally located just steps to Park Royal. The high-quality materials throughout include rich hardwood floors, large marble-slab tiling, top-of-the-line kitchens with Sub-Zero and Miele appliances plus cappuccino maker. This penthouse also features large bedrooms with ensuites, air conditioning and large patio areas. $1,999,000

Two Harbour Green

Gone!

On Top Of The World

4

Artemisia - Inspired By Art

Designer Penthouses

VIRANI REAL ESTATE ADVISORS

VANCOUVER

302-628 Kinghorne Mws.

3202-1331 Alberni St.

An Iconic residence that is modelled after a luxury cruiseliner, the Silver Sea is situated in False Creek North directly on the waterfront. . This elegant three-bedroom suite boasts the highest quality finishings including an amazing gourmet kitchen with Miele and Sub-Zero appliances. Also a large balcony with views to George Wainborn Park and Granville Island. $1,998,000

Over 1,800-sq.-ft of luxury living in the prestigious subpenthouse at The Lions. Spectacular ocean and mountain views with balconies off every room. An unmatched location that is just steps from Stanley Park, the sea wall, first-class restaurants and shopping. Some of the fantastic amenities include a 3,000-sq.-ft. fitness facility, screening room, 24hour concierge services, and 2 fully furnished guest suites. $1,699,000

402-1102 Hornby St.

302-1102 Hornby St.

A boutique collection of 21 magnificent condominium residences by James Schouw & Associates, presented in collaboration with local and international artists as a one-ofa-kind "habitable art" installation in the heart of Vancouver.

Spaces unlike any other - internal volumes, angles, curves and circulation patterns - throw the status quo out the window. $1,495,000 速

A boutique collection of 21 magnificent condominium residences by James Schouw & Associates, presented in collaboration with local and international artists as a one-ofa-kind "habitable art" installation in the heart of Vancouver.

Spaces unlike any other - internal volumes, angles, curves and circulation patterns - throw the status quo out the window. $1,475,000

Luxury Cruise-Liner

Artemisia - Inspired By Art

Gone!

Panoramic Downtown Views

Artemisia - Inspired By Art

604.695.1000 WWW.VIRANIHOMES.COM

5

VANCOUVER

301-1102 Hornby St.

2372 B Marine Dr.

An Iconic residence that is modelled after a luxury cruiseliner, the Silver Sea is situated in False Creek North directly on the waterfront. This elegant 3 bedroom suite boasts only the most superior finishings including an amazing gourmet kitchen with Miele and Sub-Zero appliances, a large balcony with views of George Wainborn Park and Granville Island. $1,475,000 速

Enjoy lovely ocean and city views from your three-bedroom, three-level half-duplex in this amazing West Vancouver location. This home has been substantially updated throughout and offers a reverse plan to take advantage of the south-facing vistas. Upper level features an open-space plan designed for entertaining, three bedrooms on main level, and a lower floor ideal for guests or teenagers. $1,368,000

2203-538 Beach Cr.

402-533 Waters Edge

Unobstructed views of False Creek and George Wainborn Park are featured from this 1245-sq.-ft. two-bedroomand-den corner suite. Sleek contemporary finishings and design include an open living space, remodelled kitchen that showcases the view, and Chateau Oak hardwood flooring.

The amenities include an indoor pool, squash court, gym, two parking stalls and a storage locker. 速 $1,299,000

Fabulous two-bedroom and den suite in "The Villas" at Waters Edge. This suite is located on the quiet side, and offers all original upgrades from the developer. Features include herringbone hardwood floors, Sub Zero and Miele Appliances, views to Capilano River, double crown molding, Hunter Douglas Blinds, opulent bathrooms and a spacious outdoor balcony. $1,188,000

Artemisia - Inspired By Art

Gone!

Waters Edge

Two Park West

Gone!

6

Walk To Dundarave Beach

VIRANI REAL ESTATE ADVISORS

VANCOUVER

2503-638 Beach Cr.

2103-638 Beach Cr.

The Icon is a spectacular waterfront luxury high-rise in one of the most exclusive neighbourhoods in Vancouver. The suite offers three bedrooms and a den with expansive windows, showcasing the fabulous views of False Creek and English Bay. Granite countertops, oak cabinetry, and oversized patios bring an element of nature into your home. $1,178,000 速

This suite at The Icon is a spacious three bedroom and den.

Expansive windows showcase the fabulous views of False Creek and English Bay, which can also be enjoyed from the spacious balcony with gas hookups. The unit has high-end finishings, over-height ceilings, and air conditioning. As a member of the Oasis Club you benefit from the spa with amenities like an 80-ft pool, fitness centre and theatre room. 速 $1,169,000

602-499 Drake St.

3003-1495 Richards St.

Spacious and elegant two-bedroom, two-bathroom suite at The Grace. High-end finishings, over-height ceilings, air conditioning and a cozy double-sided fireplace shared by the living room and master bedroom. The master bedroom has a spa-like ensuite with NuHeat floors. Luxurious living with direct elevator access to your suite, fingerprint security system and two parking spots. 速 $929,000

The Azura II is located in Vancouver's most exclusive neighbourhood, Beach Crescent, and is surrounded by ocean, parks and all the conveniences of urban living. Resort-like amenities are offered at the Superclub that includes a social lounge, pool, outdoor terrace, sports lounge, squash court, guest suite, screening room and state-of-the-art fitness centre. $899,000 速

Fabulous Views

Incredible Value

Gone!

The Grace

Gone!

Amazing Views

Gone!

604.695.1000 WWW.VIRANIHOMES.COM

Gone!

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SMOOTH MOVE

SMOOTH MOVE FROM DOWNTOWN TO WEST VANCOUVER

by marcie good

O

ne day last fall, Nicole Sjostedt received a call from KarimVirani, who had recently sold a condo in the Yaletown building where her family lived. She revealed that she and her husband Fredi had tossed around the idea of moving, but with their second baby expected soon they weren’t quite ready. “He wasn’t pushy,” Nicole recalls, “He was just throwing it out there. That struck a chord with us.”

another realtor, they called Karim again. As with their previous meeting, they were impressed by how carefully he listened to them before giving his opinion. Considering recent sales and general market conditions, he told them they could ask over $1,000 per square foot. That was well over the previous high of $880 in the immediate neighbourhood. Fredi, a wealth manager, liked his approach. “He had the right mentality of pushing the envelope while being committed to delivering it,” he said.

“He was almost $100,000 more than the other person They invited him over to look at their condo, a two- who took a conservative view. I do this for a living and bedroom-and-den corner unit at Two Park West in that’s the way I think. I thought, 'this is a match made in False Creek. When he got there, he already knew the heaven!'” details: 1245 sq. ft., view of George Wainborn park, two parking stalls, remodeled kitchen, indoor pool, They began the process of selling. With a small baby and squash court, and gym. He gave them a list of recent a young child and already having resumed her work in sales of comparable units in the neighbourhood, and public relations, Nicole was feeling the stress. But Karim told them it was a good idea to wait until spring to and Alyssa Wiggins were more than accommodating with sell. Through the next few months, Karim called her hectic schedule. “The best thing was that I didn’t to give them updates on what was happening in the have to lift a finger,” she recalls. “Whenever something market. needed to be signed, somebody was there in 15 minutes.

We had such a smooth ride.”

After the birth of their second boy, Quentin, in February, they started thinking seriously about After a couple open houses, a buyer was interested. moving. They had pursued their careers in New “Karim was working the phone with the buyer, getting York and London, he in to the price we wanted,” says Fredi.

“He had the right mentality “I truly think he had a tremendous investment banking and she in the fashion industry, and they loved of pushing the envelope amount of influence in that process.” downtown life. But their first son, while being committed to In just over a week, they had a deal Tristan, would start Kindergarten delivering it,” he said. “He close to their asking price. in the fall, and they were deep was almost $100,000 more Next, they turned their attention to on a waiting list for the nearby Elsie Roy Elementary. Nicole than the other person who finding a house. The couple was very was initially reluctant to consider took a conservative view. I specific in what they wanted: proximity West Vancouver, where she grew do this for a living and that’s to amenities and to downtown, a large up, but when he was accepted into backyard, space for themselves and for the way I think. I thought, Fredi’s mother who frequently visits a school there the choice was clear. 'this is a match made in from Finland. As Nicole knew West Although they were speaking to heaven!'”

Vancouver very well, she had her

8

VIRANI REAL ESTATE ADVISORS

preferences down to the streets. With her background suite, and it was just minutes from Park Royal. in merchandising, she also had specific design likes and dislikes. They began working with David Matiru, After their offer was accepted, Haneef set up inspections. and appreciated how carefully he listened to them.

An inspector discovered an oil tank in the backyard, unknown to the current owner. “We were panicking a They put an offer on a Dundarave heritage house. bit,” recalls Nicole. “But Haneef just said, ‘No, we’ve After Haneef Virani arranged for a number of seen this before, this is what we’re going to do.’ It was inspections, they found out the house had carpenter real peace of mind.” He arranged for the tank’s removal ants, a problem with the drain tiles, moisture damage, and subsequent soil testing at the owner’s expense, and and an old furnace. They decided to back out, didn’t remove any subjects until the work was completed. and received full support from the VIRANI team. The house was theirs.

When David went on holidays, Haneef took over.

“Whenever there was someone else helping us out, it Now, the couple is looking forward to living close to was absolutely seamless,” says Fredi. “I never had to their son’s school and to the North Shore mountains and explain myself twice, they knew the background and Interriver Bike Park where he does his BMX riding. No what we wanted.” longer will they be packing up the stroller every time the kids want to go outside. And West Vancouver is close Although they were on a tight timeline given they enough to Yaletown that they plan to visit often and had already sold their condo, Fredi and Nicole were continue their son’s activities there. assured they would find what they wanted in their price range. Then they spotted a restored four- In both buying and selling their homes, Nicole says, bedroom character home on Duchess Ave., and they were reminded that the power was in their hands. although it was outside their original boundaries they “There was always a positive energy, dealing with anyone had a good feeling about it. As soon as she walked at VIRANI,” she says. “In the end we got exactly what in the door, Nicole knew it was right. The Cape we wanted.” Her husband agrees. He appreciated what Cod style was a nice blend of old and new, with dark he calls a rare sense of professionalism and the rational stained original hardwood floors, polished cement approach to decision-making. “They stuck to the facts, counters in the kitchen, white cabinets with wrought they were never too optimistic or pessimistic,” he says. iron handles, and beautifully updated bathrooms. It “They promised a lot but they actually delivered.” had an enormous south-facing backyard, an in-law

604.695.1000 WWW.VIRANIHOMES.COM

9

FEATURE HOME

FEATURE HOME

PH-1277 Melville St. Vancouver On Top Of The World

Your chance to own one of Vancouver’s most amazing penthouses situated on the entire top floor of the prestigious Flatiron building in the heart of Coal Harbour. Designed from original shell by the award winning architects, Busby Perkins + Will, this contemporary home is a two-level loftstyle residence with over 2,700 square feet of open floor plan living plus 1,400 square feet of sunny terraces. Soaring overheight floor to ceiling windows showcase the sensational panoramic views of Coal Harbour, Stanly Park, North Shore Mountains and Lions Gate bridge from every room of this one-of-a-kind home and will make the most discerning buyer feel special. Exposed concrete walls, contemporary kitchen with top of the line appliances, spectacular master bedroom, guest bedroom, media and office room, three bathrooms with European plumbing fixtures, three fireplaces, private hot tub on upper deck, three car parking and extra storage are just some of the other features of this unique suite. $4,588,000

10

VIRANI REAL ESTATE ADVISORS

VANCOUVER

902-528 Beatty St.

1203-788 Hamilton St.

This amazing loft is located in one of the trendiest areas in Downtown Vancouver. It is just steps away from fantastic restaurants, shopping and entertainment. It also boasts an amazing 400-sq.-ft. private rooftop deck that is perfect for entertaining, relaxing and barbecuing all year long. The deck features a large outdoor gas fireplace, and superlative views of the harbour and city. $739,000

The efficient floor plan of this 874-sq.-ft., west-facing corner suite has 2 adjacent bedrooms, a large living space and sleek finishings in the kitchen and bathroom. Located on the corner of Robson and Hamilton you are close to everything. The amenities include concierge services, fitness room, hot tub, sports lounge and more. Also included is one parking stall. $539,900

604-907 Beach Av.

303-1219 Harwood St.

With a great location close to the seawall, fantastic restaurants and English Bay, this one-bedroom-and-den suite features stainless steel appliances, Granite counter-tops, in-suite laundry and two full bathrooms. The amenities include an indoor pool, squash court, gym and concierge services. $449,000

The Chelsea is a leasehold building in the quiet, tree-lined neighbourhood of the West End. This bright one-bedroom suite offers 540 sq. ft., dark parquet hardwood flooring, a spacious deck, and is 2 blocks from Sunset Beach. Bonus: a fantastic common rooftop deck perfect for watching the fireworks. $279,900

For Your Entertainment

Convenience And Location

TV Tower 1

The Chelsea

604.695.1000 WWW.VIRANIHOMES.COM

11

NEW GALLERY

VIRANI opens another gallery office in historic COAL HARBOUR by marcie good

K

arim Virani and his team had waited years for the right The office seems perfectly in tune with the surrounding Vancouver office location. But when he first saw 1280 neighbourhood. While ground-level, it still showcases a view.

West Pender Street in May 2009, he was intrigued.

Through the corridor of Jervis Street, those inside can see Harbour Green Park, the seawall and the ocean. Across West Pender is the “We thought, ‘what are we going to do with this?’” he recalls. landmark Evergreen building designed by Arthur Erickson, with its The space looked nothing like a conventional office. Rather distinct terraces and rooftop garden. As more retail opens up along than the typical downtown bureau located high in the echelons this block, including a Shopper’s Drug Mart, specialty wine store, of a tower, this one was staunchly on the ground. Positioned on spa, upscale fitness centre, coffee shops and a sushi bar, the area is the street level of the 28-storey Flatiron building, the space had beginning to realize the city’s vision of a diverse, vibrant community. one distinct advantage: exposure. The steady stream of traffic traveling from the Lions Gate Bridge to downtown passed The new sense of energy building here is an echo of the past, as directly in front. From the entrance, the glass-enclosed triangle Coal Harbour has long been alive with activity. Designated as the pointed to the intersection of Melville and Pender. On further official terminus of the Canadian Pacific Railway in 1884, it was soon reflection, they realized it was perfect. settled with sawmills, warehouses, and shipping piers. Bill Boeing built a seaplane and boat factory here, and during World War 2 Officially opened on Aug. 26, the office is now a convenient the harbour was dominated by munitions factories and shipyards. place for downtown clients to drop by during their lunch or During the 60s and 70s the industries were removed, making way after work. VIRANI Real Estate Advisors has sold downtown for a new era. The Westin Bayshore was built in 1961, and Expo 86 properties for 20 years, but opening an office in this area took brought in Canada Place. The waterfront between these landmarks, on new urgency with the recent growth in the luxury market. with its million-dollar views of Stanley Park, the North Shore and There was much crossover already between the downtown and Burrard Inlet, was developed into high-end condominium high-rises North Shore markets, as many of their clients had properties in through the 1990s. Shops, restaurants and parks were planned into both places or were choosing to downsize to a condo or upsize the neighbourhood as well, all connected by the famous Vancouver to a home on the opposite side of the bridge. seawall, making it a highly desirable place to live.

While the company has taken on some project marketing including the Artemisia residences at 1102 Hornby, the focus is largely resales. Karim estimates that there are 7,000 condominiums within a two-kilometre radius of the Coal Harbour office in the neighbourhoods of English Bay, Yaletown, False Creek and the Olympic Village. “It’s like Ground Zero for luxury apartments,” he says. “To service downtown you need to be in the epicentre of where people are, and it’s especially easy for us to meet our international clientele here. It’s a really exciting place, it’s the new Vancouver.”

Other residential sites followed through the early 2000s, including the Busby Perkins + Will-designed Flatiron. Wedged into the triangular intersection of Melville and Pender, the tower takes its inspiration from the iconic New York high-rise of the same name built in 1902. Instantly recognizable by its unusual shape, the glassencased building was also distinguished by its use of green features, including geo-thermal heating, natural air conditioning and rooftop gardens.

Forward-thinking, urban, accessible, and, to push the metaphor, V-shaped, the Flatiron is the ideal home for the new VIRANI office.

The Coal Harbour office emanates that modern urban sensibility, “This has been a long time in the making, but we were waiting for with high ceilings, striking white floors, glass walls, and the sleek the right location,” says Karim. “This is perfect for us, and it’s a very VIRANI branding. The coffee bar and large-screen television exciting time for our company.” immediately inside the entrance lend a welcoming feel, and an illuminated picture box showing a stunning overhead view of the city from Stanley Park to False Creek and beyond is a beacon to passersby. The activity of people inside (“It’s kind of like a reality show, you can watch realtors at work!” jokes Karim) mirrors the bustle of people walking on the streets. Desks line the glass wall, and behind a partition at the far corner is a meeting table. While the fishbowl space seemed unusual at first, Karim says it suits his team well. “It’s a good working environment. We’re close to each other, there’s nothing to hide. We’re all equal.”

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VIRANI REAL ESTATE ADVISORS

NORTH SHORE

North Shore Living Current Property Offerings

WEST VANCOUVER

4428 Marine Drive

$1,399,000

2372 B Marine Drive

$1,368,000

3771 Southridge Avenue

$1,299,000

4812 Headland Close

$1,288,000

402-533 Waters Edge Crescent

$1,188,000

91 Deep Dene Place

$1,149,000

27 A Glenmore Drive

$899,000

NORTH VANCOUVER

1109 Hillside Road

$6,500,000

944 Beaumont Drive

$2,088,000

1460 Chartwell Drive

$5,288,000

1051 Tall Tree Lane

$2,049,000

5530 Parthenon Place

$4,695,000

4635 Prospect Road

$1,899,000

1 Strachan Point Road

$3,995,000

1237 Dyck Road

$1,620,000

389 Moyne Drive

$3,388,000

1388 Terrace Avenue

$1,598,800

3160 Benbow Road

$3,150,000

3390 Aintree Drive

$1,249,000

118 Stevens Drive

$2,950,000

2002 Rivergrove Place

$839,900

302-2285 Twin Creek Place

$2,499,000

1201-1515 Eastern Avenue

$789,000

482 Gordon Avenue

$2,288,000

449 E 15th Street

$780,000

718 Southborough Drive

$2,198,000

1011 Heritage Boulevard

$729,000

930 Eyremount Drive

$2,188,000

3-1940 Chesterfield Avenue

$639,000

PH1-605 Clyde Avenue

$1,999,000

903-125 W 2nd Street

$549,000

PH2-605 Clyde Avenue

$1,850,000

11-249 E 4th Street

$529,900

575 Stevens Drive

$1,798,000

3796 Westridge Avenue

$1,795,000

601 Hawstead Place

$1,688,000

555 Knockmaroon Road

$1,488,000

For more information on our North Shore property offerings, visit viranihomes.com or contact our Gallery Office at The Village at Park Royal in West Vancouver.

604.695.1000 WWW.VIRANIHOMES.COM

13

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