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Grace Tower Penthouse Takes Another $1.4M Off List Price

Was: $9,998,000
Now: $7,899,000
You Save: $2,099,000
The 'Elysium' penthouse at the Grace tower has taken yet another price cut after lingering on the market since the spring of 2013. Earlier this year, the seller decided to come down in price which resulted in a $710K reduction. Now, months later, the 4,700 square foot penthouse took another dive - this time in the millions with the total drop of nearly $2.1M. What is the reason for the mega price cut? One commenter seems to have the answer: "He (James Schouw) owes 2M plus to CRA- Revenue Canada. Court date set for October 2014 facing imprisonment. The true reason for the price drop. He is trying to cash in hoping to avoiding foreclosure and bankruptcy. Owes a plethora of people. James is a true con, a pure sociopath." Yikes.

· 'Elysium' Penthouse [Ben Amzaleg]
·Penthouse At Grace Tower Listed for Just Under $10M [Curbed]
·Grace Tower Penthouse Slices $710K Off The List Price [Curbed]