$37.9M West Vancouver tear-down most expensive listing in Canada

What does the most expensive residential listing in Canada look like?

Prospective home buyers looking to burn almost $40 million could be the proud owners of the most expensive listing in Canada – an aging tear-down mansion on a waterfront property in West Vancouver.

The 38,000-square-foot, West Bay waterfront lot and mansion at 3810 Marine Drive has been listed for $37.9 million.

According to the RE/MAX, that price includes one of the last, flat waterfront lots in Metro Vancouver, and a new, custom built home.

The existing home on the property was built in 1964 and hasn’t been updated since.

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“It’s livable, 5,000 square feet, but for that kind of money you’re spending, it would be a tear-down,” RE/MAX listing agent George Tsavdaris said. “There’s nothing wrong with it, but it’s in its original condition.”

That’s why Tsavdaris said they have incorporated the price of the home to include a new, custom built home, or the property can be subdivided into three properties.

“We’ve created a rendering for what the new house would be like, but you can have three mansions, two mansions, or one monster,” Tsavdaris said.

Tsavdaris said the property itself is worth $30 million, and $7.9 million would go toward building the new house, or houses.

The owners may also agree to sell just the property for $30 million, Tsavdaris said.

“We’re looking for someone in a very wealthy financial situation who wants to have the best property,” Tsavdaris said.

The property has been on the market for a couple years, but recently was put back up for sale.

Tsavdaris said the house was originally built in 1964 by Hamilton White, a shipping magnate who built the home on the point to watch his ships coming and going.