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

Like us on Facebook and follow us on Twitter.

Want to support local journalism during the pandemic? Make a donation here.

Hotels

Just Posted

The Tsow-Tun Le Lum Society, which has been operating a treatment centre on land leased from the Nanoose First Nation for 35 years (pictured), has begun a fundraising campaign to open a new centre near Duncan. (Tsow-Tun Le Lum Society photo)
New Indigenous treatment centre to be built near Duncan

Centre will help survivors of residential schools

Rick Ruppenthal of Saltair will host a 12-hour talk-a-thon Friday, June 18 over Facebook live. (Photo submitted)
Talk-a-thon to focus on men’s mental health issues

Saltair man spearheading a campaign to generate more conversation during fundraiser

Cowichan Tribes man Adrian Sylvester is worried that he was targetted by a trailer hitch thrown from a vehicle. (Facebook photo)
Cowichan Tribes man worried he was target of trailer hitch

Adrian Sylvester says no one has reported a missing hitch after one nearly hit him

Mariah Segee (centre) was named 2021 Lady of the Lake last Saturday, with Megan Rowbottom (left) as first princess, and Macey Anderson (right) as second princess. (Submitted)
Lady of the Lake returns to Lake Cowichan

Mariah Segee takes the crown in first pageant since 2018

Darren Campbell's truck was stolen when he stopped to check on a car in a ditch (pictured) on Cowichan Bay Road on Monday morning. (Facebook photo)
UPDATE: Cowichan Bay Good Samaritan’s stolen truck recovered

‘Very much appreciated the help from so many people. I hope the very best for all of you’

People watch a car burn during a riot following game 7 of the NHL Stanley Cup final in downtown Vancouver, B.C., in this June 15, 2011 photo. THE CANADIAN PRESS/Geoff Howe
10 years ago: Where were you during the 2011 Vancouver Stanley Cup Riots?

Smashed-in storefronts, looting, garbage can fires and overturned cars some of the damage remembered today

(Black Press Media file)
Dirty money: Canadian currency the most germ-filled in the world, survey suggests

Canadian plastic currency was found to contain 209 bacterial cultures

Cannabis bought in British Columbia (Ashley Wadhwani/Black Press Media)
Is it time to start thinking about greener ways to package cannabis?

Packaging suppliers are still figuring eco-friendly and affordable packaging options that fit the mandates of Cannabis Regulations

(pixabay file shot)
B.C. ombudsperson labels youth confinement in jail ‘unsafe,’ calls for changes

Review states a maximum of 22 hours for youth, aged 12 from to 17, to be placed in solitary

Eleonore Alamillo-Laberge, 6, reads a book in Ottawa on Monday, June 12, 2017. THE CANADIAN PRESS/Sean Kilpatrick
Parents will need to fight ‘COVID learning slump’ over summer: B.C. literacy experts

Parents who play an active role in educating their children this summer can reverse the slump by nearly 80%, says Janet Mort

The border crossing on Highway 11 in Abbotsford heading south (file)
Western premiers call for clarity, timelines on international travel, reopening rules

Trudeau has called Thursday meeting, premiers say they expect to leave that meeting with a plan

The B.C. government’s vaccine booking website is busy processing second-dose appointments, with more than 76 per cent of adults having received a first dose. THE CANADIAN PRESS/Jonathan Hayward
B.C.’s COVID-19 infections, hospitalizations stable for Tuesday

108 new confirmed cases, 139 in hospital, 39 in intensive care

Graeme Roberts, who was mayor of Nanaimo from 1984-86, died this month at age 89. (Photo courtesy Nanaimo Community Archives)
City of Nanaimo flags at half-mast as former mayor Graeme Roberts dies at 89

‘Giant-killer’ beat out Frank Ney in mayoral election in 1984

Most Read