The 6,400-square-foot condo was listed for $28.8 million and was on the market for 650 days.
It takes up two floors of the hotel and has 14 rooms, including four bathrooms and three bedrooms, as well a rooftop terrace overlooking Coal Harbour and the North Shore Mountains.
Penthouse One will cost the new owners $68,000 a year in taxes and $4,200 a month in condo fees.
The last time the penthouse sold was in April 2010 for $17 million. The interiors have just been done by Vancouver designer Robert Bailey.
The listing agent, Malcolm Hasman, refused to say who the buyers are or to confirm the price. However, sources tell the CBC that members of a wealthy Middle Eastern family were in town last week to look at properties in Vancouver.
The new owners did not just buy the penthouse at the Fairmont, but at least one other property as well, sources said.
Other properties may have sold for more in private sales, but industry sources say this is the highest priced condo to be sold on the multiple listing service (MLS).
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