A one-bedroom unit at the Shangri-La in Vancouver is up on Craigslist for just $1 – but there’s a catch. (Craigslist)

A one-bedroom unit at the Shangri-La in Vancouver is up on Craigslist for just $1 – but there’s a catch. (Craigslist)

A world-class Shangri-La condo in Vancouver for just $1? There’s just one catch

It’s a luxury unit in the heart of Vancouver, what could go wrong?

Want to own a piece of luxury? Now, while Craigslist is typically better known for cheaper rentals, this listing is a little bit different.

A one-bedroom condo is available at the Vancouver Shangri-La for the low, low cost of $1 – but there’s a catch.

Let’s let our seller introduce the unit: “I own a 1 bedroom unit at the Shangri-La that has a couple of mortgages on it. There is essentially no equity left – given that the market has now fallen.”

The offer? “Assume the debt and own and takeover a unit in the Shangri-La for no money down!”

The unit is a one bedroom, one bathroom unit on a high floor. It faces north, has partial water views, comes with one parking stall and measures 677 sq. ft.

The listing goes on to describe the details, including a “well appointed kitchen with granite countertops, Miele stainless steel stove… and top of the line faucet.” There’s even the option to “relax in the spa-like bath” and access to a 24-hour concierge and a top of the line fitness centre.

What’s not included however, is just how much the “couple of mortgages” associated with the unit add up to, as well as the cost of monthly payments.

Currently, similarly sized units in the luxury hotel are advertised from $899,900 to $998,000.

The ad has been up for two weeks now with no sign of a deal, so if you’re looking for a luxury, no money down pad – this might be your moment.


@katslepian

katya.slepian@bpdigital.ca

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