The two largest home sales in Quebec history took place in 2022, according to an analysis by Le Journal.
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The largest transaction was $23,000,000 on October 7. This is a mansion in Westmount, on the island of Montreal, which was sold by Gestion Silcho Inc. This holding company belonged to the late Léo Strulovitch, or Léo Stroll, the father of the businessman billionaire Lawrence Stroll and grandfather of F1 driver Lance Stroll.
Broker Joseph Montanaro, specializing in luxury real estate, was the seller's representative.
“This is a unique and exceptional property, which sold very quickly. The sale was made off-market [without public display]. This was done within a few months, ”he said in an interview with Le Journal.
However, the broker has signed a confidentiality agreement and cannot give details on the residence in question, located in the most upscale neighborhood in Quebec. He nevertheless confirms that it is the largest transaction in the history of Quebec, as of December 15.
The sale of the Stroll family home broke the record for the largest transaction, which had been obtained earlier this year by another Westmount residence. A business executive bought the mansion for $20.9 million in June.
A matter of time
Joseph Montanaro affirms that the slowdown in the real estate market that we see everywhere is also being felt in Westmount, but less than in the other sectors. This year, in Westmount, nine homes were sold for more than $5 million.
He adds that it is a matter of time before this year's record is broken again. Prices in Quebec have a lot of catching up to do compared to other provinces, where prices are much higher, he said.
"Even though these sales are important, I recently made even more expensive offers, and it did not work out compared to the seller's expectations," he explains.
– With the collaboration of Philippe Langlois
THE 10 BIGGEST TRANSACTIONS IN 2022 IN QUEBEC
1) Westmount : 23 M$
2) Westmount : 20,9 M$
3) Montreal: $9.8M
4) Senneville : 9,3 M$
5) Senneville : 9,3 M$
6) Beaconsfield : 9 M$
7) Montreal: $8.5 million
8) Hampstead : 8,2 M$
9) Montreal: $7.9M
10) Westmount : 7,4 M$
Source: Quebec Land Registry
The most important transaction of 2022 in the Quebec region is that of the residence of the former Canadian goalkeeper Patrick Roy. He sold his house located on chemin du Tour-Du-Lac, in Lac-Beauport, on January 5 for the sum of $5.775 million. The transaction was made without public display.
This is the 22nd biggest sale of the year province-wide. It was two businessmen from Montérégie who bought the property, reported Le Journal at the time of the transaction.
The sale of a mansion in Westmount belonging to the Stroll family since 1993 is the largest in the history of Quebec. The 4,718 m2 (50,800 ft2) estate was sold for $23 million in October, an amount 20% higher than its taxable value on the municipal roll of $19,087,600.
The broker does not want to reveal the name or nationality of the buyer who is hiding behind a trust. But we know that the purchase was made in cash, without a mortgage.
A luxurious home in Westmount was sold earlier this year by plastic surgeon Arie Benchetrit for $20.9 million, making it the second biggest deal of 2022 and in Quebec history.
The sale price is nearly $3 million above the municipal assessment. The land has an area of 1047.5 m2 (11,300 ft2).
At the time of the transaction, in June, it was the largest sale in Quebec history. The buyer is a Quebec business executive.
Maurice Pinsonnault, founder of the firm Angelcare, which sells baby items, has sold his luxurious condo located in the Ritz-Carlton hotel, in the Ville-Marie borough, in Montreal.
The price of $9.75 million makes it the most expensive condo sold this year, and the third largest residential transaction of 2022. The sale was done privately.
Pinsonnault is also a shareholder in Île de la Province, where he invited the Minister of Economy, Innovation and Energy, Pierre Fitzgibbon, to a pheasant hunting party in October.