Sale of Private Residential Estate Breaks Quebec Real Estate Record

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Sotheby's International Realty Canada

Wed, Aug 12, 2020, 10:01 PM 4 min read

Solid Market Fundamentals Driving Surge in Top-Tier Real Estate Demand, According to Sotheby’s International Realty Canada

Real Estate Record Sale in Quebec

Sotheby's International Realty Canada

Real Estate Record Sale in Quebec

Sotheby's International Realty Canada

Real Estate Record Sale in Quebec

Sotheby's International Realty Canada

Real Estate Record Sale in Quebec

Sotheby's International Realty Canada

Montreal, Quebec, Aug. 13, 2020 (GLOBE NEWSWIRE) -- Sotheby's International Realty Canada today announced the sale of a private estate in Montreal that has set a new benchmark as the highest recorded residential property sale through the MLS® (Multiple Listing Service) system in Quebec’s history.

Listed at $20 million, the sale closes as Montreal’s real estate market soars following the resumption of real estate brokerage activities in May.

“Situated on almost 30,000 square feet of beautifully landscaped grounds, this estate provided a rare opportunity to own one of the most prestigious properties in Montreal,” said Liza Kaufman, listing agent with the Kaufman Group of Sotheby’s International Realty Quebec, who represented the sellers and the buyers in the transaction.

“By marketing the property across Sotheby’s International Realty’s exclusive media network, we generated strong local and international demand and several offers. This sale reflects how confident luxury buyers are in the long-term fundamentals of Montreal. It also reveals a consumer trend that is emerging with the pandemic – more than ever, people are seeking security and a desirable lifestyle by investing in their homes,” Kaufman said.

Built in 1924, the six bedroom home, with six full bathrooms, two powder rooms and one powder room in the pool cabana, has been fully restored to merge classic European architecture with stylish contemporary designs, bespoke furnishings and world-class comforts, including a 14-car garage and saltwater pool.

The main kitchen is equipped with a Lacanche Cote d'Or, nine-burner gas stove with double ovens, large Miele Refrigerator, large Miele freezer, Miele dishwasher, compactor, double sink, garburator and pot filler. A grand centre marble island seats four with an adjacent breakfast table with seating for six. An additional pair of writing desks and an abundance of hidden storage make the kitchen a central hub for the home.

The imposing entry opens to a grand centre hall paneled in rich wood, offering exquisite moldings and a gas fireplace. The cross hall plan is perfect for entertaining. The light-filled living room features large windows overlooking the city and a beautiful marble antique mantle piece. The adjacent dining room is available for intimate dinners or lavish entertaining, and it is serviced by a caterer's kitchen featuring a Wolf oven, Subzero refrigerator, gas stove, dishwasher, microwave and wine refrigerator.

French doors open to a spectacular multi-level backyard which feature the pool and stone terraces large enough to host a wedding party and other large events. A custom stone fire pit, pool cabana with change room and powder room, tree house and children’s play area, make this an outdoor paradise.

“Montreal’s residential real estate market has been strong across the conventional and luxury real estate market, and across every residential property type this summer,” says Daniel Dagenais, Managing Broker of Sotheby’s International Realty Quebec. “In fact, according to the latest statistics released for the Montreal Census Metropolitan area by our real estate board, residential sales surged 46% year-over-year from July of last year and set a new record for a month of July.”

The transaction demonstrates a resurging demand for luxury Canadian properties.

“The Montreal real estate market, as well as major metropolitan markets such as Toronto and Vancouver, saw significant gains in the first months of 2020 before COVID-19 disrupted their momentum,” says Don Kottick, President and CEO of Sotheby’s International Realty Canada. “We’re now seeing pent-up consumer demand surge into new activity. In addition, global uncertainty is firing up new demand for real estate in key Canadian markets including Montreal, not only amongst locals, but from buyers from the U.S. and overseas who are seeking sanctuary and a secure financial investment.”

According to Kottick, favourable mortgage lending conditions and continued volatility in the stock market are also positioning Canadian real estate as a desirable and secure investment.

Further details of the sale of this estate remain private.

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About Sotheby's International Realty Canada

Combining the world's most prestigious real estate brand with local market knowledge and specialized marketing expertise, Sotheby's International Realty Canada is the leading real estate sales and marketing company for the country's most exceptional properties. With offices in over 32 residential and resort markets nationwide, our professional associates provide the highest caliber of real estate service, unrivalled local and international marketing solutions and a global affiliate sales network of approximately 1,000 offices in 71+ countries and territories to manage the real estate portfolios of discerning clients from around the world. For further information, visit www.sothebysrealty.ca.

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