A three-bed, three-bath penthouse has just hit the market at $3.89 million, making it the highest valued penthouse unit in North Burnaby right now. In the same building, Gilmore Place, two other penthouses were sold at under $2 million and $2.65 million within a month of each other earlier this year.
The property
- Type: Apartment/Condo (Penthouse)
- Neighbourhood: Brentwood Park, Burnaby
- Beds: 3 + den
- Baths: 3
- Interior size: 2,220 square feet
- Year built: 2024
- Parking: Garage, Triple; Garage, Underground
- Taxes: $8,970.99
- Maintenance fees: $1,705.56
- Listed price: $3,899,900
- Listing agent: Michael Dritsas; Dritsas Real Estate Group
Perched atop the 51st floor, the unit spans 2,220 square feet over two levels, with 14-foot ceilings, a private in-suite elevator and a floating glass staircase set. If all that interior space wasn’t enough, you’re also privy to 3,840 square feet of outdoor space across three terraces.
Alongside the huge space, the kitchen is fitted with Sub-Zero and Wolf appliances as well as quartzite stone countertops. In the primary ensuite, spa-inspired amenities include temperature-controlled heated floors, a wet room with an oversized walk-in steam shower and a free-standing soaker tub.
The home also comes with a three-car private garage and a storage room. The building itself is equipped with a variety of amenities such as a movie theatre, a steam room and sauna, as well as hydrotherapy pools.
The big picture
While the unit is currently the highest-valued penthouse in North Burnaby, listing agent Michael Dritsas explains that at the peak of the real estate market in 2022, the unit would have been priced 25 per cent higher. Despite the slower market conditions we are seeing now, he notes that because of the penthouse’s target demographic, the luxury penthouse market isn’t necessarily affected by today’s economic factors.
Most buyers who come to look at the unit are typically business professionals looking to downsize and/or use it as a vacation home. Dritsas also explains that these buyers most often have different properties in other parts of the world as well.
“They’re looking for the best of the best for when they do visit for that two weeks or a month,” he says. “They want a place that’s still luxurious but at the end of the day, they can close the door, walk away and not have to worry about maintenance.”
For most penthouse buyers, three factors play an important part of the purchase: the level the suite is on, space and security. As buyers may be downsizing from a house that had a backyard and patio, it’s important that the penthouse comes with ample outdoor space suitable for throwing parties and entertaining guests. Security is also a major consideration, since many buyers most likely own luxury cars and would require additional protection.
Ultimately, Dristas says the appeal of penthouse living comes down to a combination of convenience and exclusivity—particularly for affluent buyers who are constantly travelling or splitting time between multiple homes. As a result, features like expansive terraces, private garages and hotel-style amenities become just as important as the interior finishes themselves.
“It will come down to buying what you like and what works for you,” he notes. “Some people enjoy more outdoor space, others prefer security. It’s all up to you.”
