Less than $5 million for this high-rise residence in Westmount

Hundreds of properties in Quebec change hands every day, most of them without us knowing the exact details. That was before we became interested… Here are the latest transactions that caught our attention.

A property on a cul-de-sac in Westmount just found a buyer for $4.8 million, a little less than 20% below the asking price.

Located at 75 Place Belvédère, the luxurious residence features four bedrooms, four bathrooms, a double garage and bird’s-eye views of Montreal and the surrounding area.

Real Estate - Westmount

Christina Miller Real Estate Group, Profusion Immobilienr

Built in 1965 on a 834 square meter plot, this residence stands out for its solarium with 6.1 meter high ceilings, its wine cellar, its terrace and its lush gardens at both the front and rear.

Its owner, Thomas C. Nacos, bought this property more than 45 years ago, in 1983. The businessman, serial entrepreneur and owner of, among other things, Wienstein and Gavino’s, a restaurant on Crescent Street in Montreal, died in the fall of 2020.

Real Estate - Westmount

Christina Miller Real Estate Group, Profusion Immobilienr

More than a year ago, his estate put this home up for sale. In September 2022, his broker announced the purchase price for $5.8 million. Finally, more than a year later, buyers snapped it up for $4.8 million, $1 million, or 17% below the asking price.

At last appraisal, this property was assigned a value of $3,893,700. This was a 36% increase from the previous valuation of $2,863,000.

Real Estate - Westmount

Christina Miller Real Estate Group, Profusion Immobilienr

For buyers, a $146,769 transfer tax payable to the City of Westmount will be added to the purchase price.

– In collaboration with Philippe Langlois.

Excerpted from the Journal’s weekly real estate column. If you hear of an interesting transaction, do not hesitate to share it at [email protected].


Posted

in

by