Dean Unger - Jul 4, 2008 CASTANET
Construction is barely underway, however, that didn't stop an un-named purchaser from paying a record price for a condominium in Kelowna. The condo sold for $2.9 million, breaking all previous sales records for condos in the city. North Ellis Developments Ltd. announced the sale of the Madison Penthouse Suite, on July 3. The Madison is a 15 story complex currently under construction at the corner of Doyle Avenue and Ellis Street. It is expected to be complete in 2009. "The 3325 sq. ft. condo is in a new residential tower at 1353 Ellis street," says Steve Hyndman, of North Ellis Developments. "This record breaking sale is the highest priced condo sale to date in Kelowna on the MLS." Condo prices ran from $400,000 up to the record-breaking $2.9 million sale. Real estate specialist Jane Morgan says 85% of the condos in the Madison development sold on opening day.
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Top price - CHBC Video
Web posted on Thursday, 03 July 2008
A penthouse sale has Kelowna condo prices reaching new heights.
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