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Edmonton Penthouses Listed For Record $3.7 Million Despite Downturn

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EDMONTON CONDO
Liv Real Estate
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Despite Alberta's economic downturn, four luxury penthouses have hit the Edmonton market for $3.7 million each.

The suites are primed to set the record for the most expensive condos ever sold in Edmonton.

The 3,000 sq.-ft. units in The Pearl Tower feature a panoramic view of downtown Edmonton and the river valley, as well as luxury details including walnut flooring, motorized kitchen cupboards and a built-in smart home system.

edmonton condo
Talk about luxury. (Photo: Liv Real Estate)

The penthouses also come with 20-foot-high ceilings, customizable walk-in closets and gorgeous spa bathrooms with a steam shower and stand-alone tub. Each also includes with four parking spaces and additional storage in the building's basement.

The condos aren't only the priciest, but also the highest ever put up for sale in the city, according to CBC News. The four units are located on the 34th and 35th floors.

Check out more photos of the suites. Article continues below.

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The tower is located on Jasper Avenue in Oliver, a neighbourhood just west of downtown Edmonton.

The custom Gaggenau appliances in each kitchen alone cost over $500,000 — twice the price of an average condo in Edmonton.

“There’s a lot of people who have money in the city… they really like the way our downtown is going," realtor Jakie Ng told the Edmonton Sun.

edmonton condo
Imagine that view. (Photo: Liv Real Estate)

Alberta's economy has been struggling ever since the price of oil took a steep dive last year. On Thursday, the province announced a budget that forecasts almost $58 billion in debt within three years.

And though Edmonton's housing market is beginning to see signs of trouble, the condos' realtor isn't concerned.

"There’s a lot of good wealth and quiet wealth and they understand the value of what they’re buying. I don’t think we’ll have any issues selling our units in the building," Ng told Global News.

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