Well, you learn something new about Vancouver RE every day. I'd always assumed the Lee Building was rental and not a strata with an unusual ownership structure:
Shared ownership structure complicates sale of low-cost condo
Kerry Gold
Vancouver
Special to The Globe and Mail
Published February 21, 2025
The Lee Building at East Broadway and Main Street is an east-side landmark that has stood on the busy Mount Pleasant corner since 1912. It has long been a draw for creative types who value community and a great location. The converted condo building with retail spaces on the ground level has had extensive plumbing and window upgrades, but the historic charms are preserved on the exterior and in the lobby...
... The price was low because the ownership structure is a unique one – all owners are on title together – and buyers must pay in cash. Obtaining a mortgage with such complicated shared ownership wouldn’t be possible, said listing agent Dwayne Launt, who’s sold several units in the building over the years....
https://www.theglobeandmail.com/real-est...ture-complicates-sale-of-low-cost-condo/
Threaded Mode