Goodman Report
560-2608 Granville Street V6H 3V3 Vancouver, BC, Canada

I’m interested in portraying a sort of antisensibility that pervades society. Roy Lichtenstein Latest acquisition: Roy Lichtenstein, Oval Office, 1992, edition 115/250, 30" x 40", screenprint in colours, Goodman + Jagger Collection, Vancouver.

I’ll be speaking at the Western Canada Investment Conference (#WCAIC21) on April 13. Join me alongside over 250 executives and experts to find out how multi-residential markets in Western Canada are performing. Register now: https://bit.ly/WCAIC21reg

For sale: West End rental development site The subject property represents a rare opportunity to purchase a ~13,000 SF development site just west of the Burrard Street Bridge in Vancouver’s coveted Sunset Beach seaside community. The land is situated in Area-E of the newly established 100% Secured Rental and Below-Market Housing as an Alternative to Condo/Inclusionary Social Housing in the Burrard Corridor of the West End Community Plan. The site currently features a 30-suite 3-storey apartment building offering consistent holding income. More details: https://goodmanreport.com//west-end-rental-development-si/

Latest acquisition: Andy Warhol, Marilyn Monroe (FS II.30), 1967, edition 63/250, 36" x 36", screenprint on paper, Goodman + Jagger Collection, Vancouver.

Sold! Cynthia Jagger and I are pleased to announce the sale of a 19-suite 3-building rental complex improved on a 2.25-acre site located in Vancouver Island’s South Nanaimo District. The property is ideally positioned for a wide variety of value-add strategies and is priced at the convergence of land value, cash flow and potential income.

PRICE REDUCTION of $400,000: 15-suite mixed-use rental building. Now asking $6,800,000 (3% cap rate). Unique opportunity to acquire a well-maintained three-storey mixed-use rental building consisting of 15 units (14 rental suites and 1 commercial retail unit) in Burnaby’s transit and pedestrian friendly Edmonds neighbourhood. The building was built by the reputable Vancouver-based Adera Development as part of its 405-home master-planned community, The Village. Constructed i...n 2000 and improved on a 15,038 SF lot, the property features a suite mix of 3 one-bedrooms, 9 two-bedrooms and 2 three-bedrooms, along with a street-fronting 2,066 SF retail unit currently leased to a Montessori school. Other highlights include elevator service, patios/balconies, storage lockers for all tenants, 2 sets of leased washer/dryers and 22 parking stalls (4 surface level and 18 secured underground stalls). See more

For sale: 10-storey 75-suite concrete rental tower located in Vancouver’s coveted West End neighbourhood. Asking $33,000,000 ($440k per unit; 2% cap rate).

MAJOR PRICE REDUCTION: High-density M2-zoned site. Now asking $28,750,000 ($81 per SF buildable; 2.6% cap rate). An exceptional opportunity to acquire a 1.6-acre property in Vancouver’s coveted East Vancouver port industrial area. This offering is ideal for investors seeking stable cash flow, owner-users looking to position their business, or developers who can build up to a 5.0 FSR (356,805 SF buildable) on a high-density M-2 zoned site.

Latest acquisition: Andy Warhol, Campbell’s Soup I: Tomato (FS II.46), 1968, edition 221/250, 35" x 23", screenprint on paper, Goodman + Jagger Collection, Vancouver.

Featured art of Goodman + Jagger Collection. David Burdeny, Guys Lunch & Grocery, Saskatchewan, 2021, 21" x 26", archival pigment print, Goodman + Jagger Collection, Vancouver.

For sale: 24-suite rental apartment building in Vancouver’s West End. Asking $10,300,000 ($429k per unit; 3% cap rate).

Sold: 33-suite rental apartment building in Marpole.

Sold: 21-suite rental apartment building in Vancouver’s coveted West End.

For sale: 21-suite rental apartment building in Vancouver's West End. Asking $8,375,000 ($399k per unit; 2.6% cap rate). View details: https://goodmanreport.com//lakehill-apartments-1435-pendre

For sale: 33-suite rental apartment building in Marpole The Lugano is an exceptionally well-maintained and updated 33-suite apartment building located in South Vancouver’s transit-orientated Marpole neighbourhood within a 10-minute walk to the Marine Drive Canada Line Station and the growing list of retail amenities located at Marine Gateway. Asking $10,500,000 ($318k per unit; 2.8% cap rate). View details: https://goodmanreport.com//the-lugano-8755-laurel-avenue-v

Goodman noted that, despite the angst, there is no lack of investors for Vancouver apartment buildings, saying sales have increased over the past few months and prices have stayed firm.

Podcast: Decades of selling Vancouver apartment buildings with Mark Goodman of Goodman Commercial Joining us on today’s episode is Mark Goodman. Introduced to the podcast by the Canadian Real Estate Forums, he is a principal of Goodman Commercial Inc. and publisher of the Goodman Report. Mark has brokered some of the biggest real estate transactions in Vancouver and is regarded as a market leader. Coming from a family of real estate practitioners, Mark has witnessed the trans...formation of Vancouver’s real estate market. He explains what his company does that contributes to their success and examines some of the regulations that were implemented in Vancouver last year. Topics covered include: Brokering some of the biggest transactions in Vancouver Mark’s exposure to real estate starting at a young age The very first phone call that Mark made as a commercial broker Being results-oriented in a competitive market Political challenges today reminiscent of the 1990s The lack of purpose-built rental construction in Vancouver Vancouver’s chronic supply and demand imbalance Rent freeze and vacancy control What happens if there is no value proposition to invest in rental housing Listen to the podcast: https://goodmanreport.com//decades-of-selling-vancouver-a/

For sale: Mount Pleasant I-1 zoned property ideal for owner-users, investors or developers. Asking $6,600,000. A rare opportunity to acquire a 4,800 SF showroom, office & warehouse building with plans in place to add approximately 3,200 SF of additional floor area. Improved on a 6,040 SF lot in Vancouver’s vibrant Mount Pleasant neighbourhood, the property’s generous 50’ frontage and I-1 zoning allows for up to 18,000 sq. ft. (3.0 FSR) of density comprising a mix of office and modern industrial-use space. View details: https://goodmanreport.com/ac/336-west-5th-avenue-vancouver/

You’re invited: Cynthia Jagger to participate in UDI’s industry market update webinar a tale of two quarters On Wednesday, October 28th, 2020, from 9:30 am 10:30 am, Cynthia Jagger, principal at Goodman Commercial, will be participating as an expert panellist discussing what has happened over the last six months and where the rental, commercial and retail markets are headed. Cynthia will be focusing on the Metro Vancouver rental apartment market and providing insight on:... Deal structure how Goodman Commercial is successfully transacting property in a COVID environment How landlords are faring feedback from our clients Investment activity update sales volume, transactions and pricing Provincial changes easing of restrictions on access to buildings and lifted eviction ban To register for this webinar, please click here: https://goodmanreport.com//youre-invited-cynthia-jagger-t/

Mark Goodman, a multi-family specialist with Vancouver’s Goodman Commercial Inc., said the policy is being considered despite the robust creation of rental units in C-2 zoned areas.

Sold unconditionally: Kitsilano rental apartment building one block away from both the Broadway corridor and Arbutus Greenway and a short walk to retail on W. 4th Ave. Cynthia Jagger and I are pleased to announce the sale of Connie Lynn Apartments after touring 9 groups through and receiving multiple offers.

Sold unconditionally: Kitsilano rental apartment building water, city & mountain views. We are pleased to announce the sale of Chelsea Vista after touring 16 groups through and receiving multiple offers.

Price reduced: Opportunity to acquire a high-exposure 11,376 SF corner site strategically situated on the southeast corner of E. 12th Avenue and Clark Drive in Vancouver. Now asking $4,850,000 (reduced $400k). The subject property sits in the Grandview-Woodland Community Plan and allows for residential buildings up to 4 storeys with potential small-scale retail and commercial at grade (1.7 FSR). There is potential for increased density up to 6 storeys based upon a rental scenario (up to 3.0 FSR). An enquiry letter has been submitted with a response available.

In today’s podcast powered by First National, Mark Goodman, Principal of Goodman Commercial and publisher of the Goodman Report, explains what his company does that contributes to their success and examines some of the regulations that were implemented in Vancouver last year.

Multifamily properties on the sale market Choice properties are popping up throughout the Vancouver metro market. Goodman listings include the Edgewater site on Pacific Street two blocks from Sunset Beach in the Burrard Corridor, which offers an option for redevelopment.... It’s possible to support a very large building up to 300 feet, says Goodman. A six-storey rental development site at Main and East 33rd prompted a bidding war with five developers, says Goodman. There is an accepted offer on the property and the buyer is currently working with architects and the city. A mixed-use high-rise site in Surrey is listed at $33.8 million. Goodman says the property is the quintessential Surrey location close to the SkyTrain, Simon Fraser University and Surrey city hall and library. In Richmond, a Goodman listing for two side-by-side apartment buildings (asking $50,290,000) attracted six competing offers, half of them institutional investors from Eastern Canada and half of them local buyers. It just shows you how resilient the market is.

Price reduced: 1.16-acre high-density development site located in the civic core of Surrey City Centre just west of City Hall & Civic Plaza and within 245 metres of rapid transit. Now asking $29,800,000 https://goodmanreport.com//surrey-city-centre-high-rise-d/

‘Ton of product’ for sale in Metro Vancouver Vancouver’s multiresidential property market is coming back from the COVID pause with a flurry of choice properties being made available and an uptick in transaction activity. Commercial real estate firms report more apartment building and development site listings year-over-year in September. Mark Goodman of Goodman Commercial told RENX he and partner Cynthia Jagger had 23 listings worth $300 million in September. Last year, they ...had 28 listings worth $250 million. Goodman says his team has completed 14 transactions year-to-date totalling $186 million and eight of those sales were made during the pandemic. You push pause on the economy for March, April and May and all of a sudden you open it up." People are buying and selling for all of the reasons they were before, but you’ve accelerated the trend because people want to get back to their lives and plan their business, says Goodman. So, we’re getting hit with a ton of product. Read the article: https://renx.ca/vancouver-multifamily-market-ton-product-f/

Monster price reduction: A rare opportunity to acquire an exceptionally well-maintained four-storey mixed-use building consisting of 38 strata-titled units (33 residential suites and 5 commercial units at grade). Built in 1998, the property is improved on a 9,269 SF C-2 zoned corner lot with 100 feet of frontage in the heart of Kitsilano. Held in a bare trust with significant upside on suite turnover. Now asking $25.5 million.

The Metro Vancouver commercial real estate investment market remains very active! To stay on top of our current listings and 2020 sales activity, please click here: https://goodmanreport.com//GR_Multiproperty_October_2020_w We are here for you! Please feel free to reach out at any time for a no-cost, no-obligation evaluation of your property.

"When social justice is put ahead of profits, eventually, natural competition eliminates the weak. MEC attracted people who believed social justice trumped profits, just as the NDP attracts candidates who believe they have been dealt an unjust hand in life. These NDP candidates are out to rectify their perceived inequities by pushing an agenda of redistribution as opposed to creating the conditions required for entrepreneurs (and thus, the entire economy) to thrive. Whilst I love people who take action, unfortunately, it is these same people who have never had to risk their future, their family, and their reputation to start and build a business."

The Metro Vancouver rental apartment and development site market remains very active! To stay on top of our current listings and 2020 sales activity, please click here: https://goodmanreport.com//goodman-commercials-2020-sales/ We are here for you! Please feel free to reach out at any time for a no-cost, no-obligation evaluation of your property.

Price reduced: High-density M2-zoned site. Now asking $35,000,000 ($98 per SF buildable). An exceptional opportunity to acquire a 1.6-acre property in Vancouver’s coveted East Vancouver port industrial area. This offering is ideal for investors seeking stable cash flow, owner-users looking to position their business, or developers who can build up to a 5.0 FSR (356,805 SF buildable) on a high-density M-2 zoned site.

The City has reportedly sent out notifications via hard copy mail to affected owners, though no one we’ve spoken to has received it yet, said Mark Goodman, a multi-family specialist with Goodman Commercial Inc., a Vancouver real estate agency. Goodman added that the policy is being considered despite the robust creation of rental units in C-2 zoned areas.

What Goodman and other agents are seeing is an avalanche of apartment buildings hitting the Vancouver area market, which Goodman suggested is in response to the current provincial rent freeze, soaring insurance rates and concerns about ongoing restrictive rent controls in B.C. Some long-time landlords are getting out of this market, he said. Goodman noted that, despite the angst, there is no lack of investors for Vancouver apartment buildings, saying sales have increased over the past few months and prices have stayed firm.

Looking forward to hearing Cynthia Jagger, principal of Goodman Commercial, provide her insight on the current state of the Metro Vancouver rental apartment market.

Massive price reduction: 20-suite apartment building on Cornwall Ave steps to Kits Beach. Now asking $10,800,000 ($540k per unit; 2.6% cap rate). All offers considered. View details: https://goodmanreport.com//david-apartments-2012-cornwall/

For sale: 10-suite Kitsilano apartment building water, city & mountain views. Asking $4,500,000. Prime Kits view property! Chelsea Vista is a 10-suite three-storey apartment building located just one block north of Kitsilano’s famed West 4th Avenue, just steps to Kits Beach waterfront, a mix of restaurants, retail and other everyday amenities. View details: https://goodmanreport.com//chelsea-vista-2072-west-3rd-av/

City of Vancouver moves to decrease land values by 1030%: Proposed policy will significantly affect owners in Vancouver’s C2 zones At Goodman Commercial Inc., we’ve long been critics of the moratorium that’s been in place for over 10 years on the City of Vancouver’s RM-zoned lands. This policy has decreased the availability of new rental options in these areas and forced new construction along arterial routes instead of in highly popular, liveable areas such as South Granville, Fairview and Kitsilano. Freezing properties within desirable areas exacerbates the rental shortage, leading to higher rents and fewer options for tenants. Read the article: https://goodmanreport.com//city-of-vancouver-moves-to-dec/