STUART HUNTER
Province
Pssst — wanna buy a condo, cheap?
The Onni Group is teaming up with MAC Marketing Solutions to offer 375 finished condominium units for sale at discounts of up to 40 per cent — but for one day only.
The $150 million in Onni’s inventory, located in 10 developments in Greater Vancouver, is one of Canada’s biggest realestate liquidation sales, says MAC owner Cameron McNeill.
“If this seems like some scam or ploy, it is not,” McNeill said yesterday. “The reality is we are looking at what is going on with the economy and identifying a unique strategy to address the situation. We are passing on significant savings to buyers.”
Onni can offer the condos at discounts of 25 to 40 per cent due to the company’s strong financial health and an abundance of finished inventory with significant carrying costs, he said.
The condos are in Richmond, Port Moody, New Westminster, Surrey and Port Coquitlam.
The one-day sale is scheduled for March 7.
A few examples of discounted condos:
Richmond: A 900-squarefoot, two-bedroom unit originally priced at $472,900 is now offered at about $360,000.
Port Moody: A 1,106square-foot two-bedroom and den unit originally priced at $453,900 is now $340,000; a 655square-foot studio originally priced at $319,900 is now $240,000; and a 990-squarefoot, wood-frame, two-bedroom unit originally priced at $419,900 is now $315,000.
Surrey: A 1,100-squarefoot,two-bedroom and den originally priced at $360,900 is now about $260,000.
New Westminster: A onebedroom originally priced at $270,000 is now $215,000.
Port Coquitlam: A 1,000square-foot two-bedroom unit originally priced at $389,900 is now $280,000.
Peter Simpson of the Greater Vancouver Home Builders’ Association called the deals “innovative.”