Vancouver real estate: apartment in former CIBC bank vault building sold for $800,000

    1 of 2 2 of 2

      An apartment in a Vancouver heritage building that once served as a bank vault sold after eight days in the market.

      The two-bedroom and one-bath unit went for $800,000, which was $101,000 over the asking price.

      The apartment is one of six residences in the 1915-era brick stucture at 1943 East 1st Avenue.

      The four-level building once served as a vault by the Canadian Bank of Commerce, a precedessor of the Canadian Imperial Bank of Commerce or CIBC.

      The Vancouver Heritage Foundation (VHF) provides a history of the building, now known as the Vault.

      “Victoria Court was designed as a new branch bank vault building for the Canadian Bank of Commerce. The imposing new branch was designed by Scottish-born architect, V.D. Horsburgh (based in Toronto) at a cost of $100,000. Local architect W.F. Gardiner supervised the construction by Baynes and Horie (1915).

      “While the building didn’t extend all the way to the lane, and at the back was built of brick (seen here), the front had four huge (hollow) columns, one of the architect’s favourite architectural elements.

      “The building is known today as ‘The Vault’. It was converted to apartments in 1984, and is listed on the Vancouver Heritage Register as a B-listing,” the VHF relates on its website.

      Inside the two-level home at The Vault.

      Stilhavn Real Estate Services listed the apartment on August 17, 2020 for $699,000.

      The unit sold on August 25, according to tracking by fisherly.com.

      The property’s listing by Stilhavn Real Estate Services describes the building as a “boutique walk-up strata”.

      The listing goes on to note that the two-level “penthouse sits on the quiet side”.

      The main level features an open kitchen, an “airy living room with glass skylight wall”, and “access to the large balcony with stairs to the open parking”.

      Upstairs hosts laundry, two bedrooms, and a “cheater ensuite with walk-thru…closets off the master”.

      Comments