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Global Affairs Canada said the final sale price reflects prevailing market conditions and buyer interest at the time of sale on May 11.

"The transaction represents a net financial benefit for Canadians," the department said in an email Monday.

The apartment was originally listed for US$9.5 million — about C$13 million — in August 2024. Senior government officials said at the time that the sale was necessary because the residence needed millions of dollars in renovations.

That same year, Global Affairs Canada bought a new luxury condominium for C$9 million to serve as the official residence for its consul general in New York. 

The purchase led to international headlines after some New York websites initially reported the condo deal was done for King Charles because the property's deed said it was sold to "His Majesty the King in right of Canada."

It also faced backlash in Canada with Conservatives saying the new apartment, located on "Billionaires' Row" near Central Park, was wasteful and opulent at a time when Canadians were struggling to pay their bills.

In an emailed statement Monday, Conservative Leader Pierre Poilievre's office said that "it was a choice that the Liberals bought a luxurious condo on Billionaire row to house their newly appointed old friend in New York."

"While Canadians can barely afford homes ten times less than the $9 million consul's residence, it is sickening that the Liberals lost over $1 million on the move to give their old friend an upgrade in opulence," the statement said. "These are the same old Liberals who help their insider friends while Canadians get poorer to pay for it." 

In response to the initial controversy surrounding the residences, Canada's consul general in New York Tom Clark was called to testify in a House of Commons committee. The former CTV journalist said he had nothing to do with the purchase of the new apartment, nor the sale of the old residence.

The Park Avenue apartment was initially purchased in 1961 and last renovated two decades later. 

The committee heard that it wasn't in compliance with Canada's accessibility legislation and the co-operative board in charge of the building had imposed restrictions on events that could be held on site.

There was also a lack of separation between family and work spaces.

Concerns about the residence were first raised in 2014 and there were plans for renovations. Those were put on hold because of the COVID-19 pandemic.

The committee heard that renovation costs significantly rose and were ultimately not expected to solve some fundamental issues with the apartment.

Government officials at the time said purchasing the new apartment in Steinway Tower, a building known as the world's thinnest skyscraper, would ultimately save Canadian taxpayers money.

The Park Avenue apartment, however, did not sell quickly. Online realtor websites show the price first dropped in June 2025, and then again to US$7.9 million last September.

This report by ¹ú²úÓÕ»ó¸£Àû was first published May 18, 2026.

— With files from Sarah Ritchie in Ottawa