Highrise sold out in under an hour

The condominium homes at The 258 highrise project in New Westminster went to market last weekend, and to say sales were robust is a bit of an understatement: all the homes were sold in just 42 minutes.

The 75 condominiums and “live-work suites” were purchased by buyers who lined up before sunrise last Saturday. The collective value of the sale is estimated to be $30 million, according to a prepared release.

The 258, an undertaking from developer Tridecca Developments, had made headlines when Pilothouse Real Estate chose the project to unveil its “In-Real-Theatre,” an interactive real estate technology that allows purchasers to see what the layout of their home will be.

“The chance to experience ‘In-Real-Theatre’ was an incredible draw for buyers, and we had potential purchasers coming from across B.C. and Alberta,” Pilothouse president Bill Morrison said in the release. “This is a revolutionary way to present and purchase new home real estate. Now purchasers can experience every home in full size, walk through their suite, and experience a 24-hour time lapse of their potential view.

More than 300 prospective buyers lined up to attend the sales event.

The 258 homes will be located on Sixth Street, and range from 579 to 1,668 square feet. The highrise is expected to be complete by November 2013.