There's luxury. There's opulence and then there's this.
A North Shore real estate agent and his brother are celebrating after closing the largest residential real estate sale in Canadian history.
Sasan Fazli, an agent with Re/Max Crest Realty, and Cameron Fazli, owner of North Shore-based Fazli Group, worked with a foreign buyer to broker the sale of the north facing penthouse of the Fairmont Pacific Rim in Coal Harbour - plus three sub-penthouses - for a whopping $55 million.
"On the public record... this is the ultimate, most expensive combined sale in Canadian history by a huge margin," Sasan Fazli said.
The previous record was speculated to be about $30 million.
Fazli wouldn't reveal the identity of the buyer but confirmed he was from a "very, very prominent Middle Eastern family."
The Fazli brothers came into the deal through Cameron Fazli's property management firm, and then went to work negotiating with the four previous owners and their listing agents.
Fazli credited his younger brother's relationship-building skills for the deal. "... It's the reason why this fell into our hands," he said. "Only and solely because of Cameron maintaining a relationship of trust and integrity," he said.
While he'd rather not divulge what the commission on such a sale is, Fazli said it is significant.
"Let's just say we've planned a couple of very nice trips for the family here in the next few months," he said.
The sale represents a new and rather uncharted market of "ultra-luxury," that Vancouver is about to become known for, Fazli said.
"We live in a society that every day, the rich become richer, correct? Every day. The millionaires are making more millions. The billionaires are making multiple billions. People that have this kind of money really value ultra-luxury items," he said.
"When they love something, they'll own it. Like Donald Trump says, 'If you love it, own it.'" Fazli said the recent purchases have shined a spotlight on the Vancouver real estate market. He said his high rolling clients see it as a safe place to invest, and a great place for a vacation property, adding "the absolute beauty of Vancouver is what's attracting clients from around the world."
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