Sotheby’s International Realty Canada says the sale of a private estate in Montreal has set a new benchmark as the highest recorded residential property sale through the MLS system in Quebec’s history. The house was listed at $20 million, but the final sale price has not been disclosed.
“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,” says 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 says.
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 and separate freezer, Miele dishwasher, compactor, double sink, garburator and pot filler. A 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 company says.
The grand centre hall, paneled in rich wood, offers exquisite mouldings and a gas fireplace, it says. The living room features a marble antique mantelpiece and large windows overlooking the city. The adjacent dining room is serviced by a catering kitchen featuring a Wolf oven, Sub-Zero refrigerator, gas stove, dishwasher, microwave and wine refrigerator.
French doors open to a multi-level backyard, which features stone terraces large enough to host a wedding party and other large events, Sotheby’s says. There’s also a pool, a pool cabana with change room and powder room, a custom stone fire pit, a treehouse and a children’s play area.
“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 per cent 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 company says.
“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.”
Kottick says 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, the company says.