REAL ESTATE TECHNOLOGY
businesswire | January 13, 2021
Sotheby's International Realty Canada today declared the sale of a private residential townhouse at The Ritz-Carlton Residences in Montreal that has set another benchmark as the highest recorded apartment suite sale through the MLS® (Multiple Listing Service) system in Quebec's history.
Listed at $12.9 million, the approaching sale takes place as Montreal's land market continues to encounter strong interest and record setting sales movement as the locale's market transitions into 2021.
“The Ritz-Carlton Residences Montreal is regarded as being amongst the world’s most prestigious offerings in real estate, and as its ‘crown jewel’, this penthouse is a masterpiece of contemporary architecture, design and engineering,” said Liza Kaufman, listing agent with the Kaufman Group of Sotheby’s International Realty Quebec, who represented both the seller and the buyer in the transaction.
“While we captured local and international interest by building bridges and expanding our marketing efforts across the Sotheby’s International Realty network, the property was ultimately purchased by a buyer from the U.S. The sale of this only reinforces Montreal’s position as a desirable destination within the global real estate market. It also reflects the underlying resilience of our city’s luxury condominium market, and the fact that demand for prestigious brands and properties will always be enduring,” Kaufman said.
Kaufman previously represented the seller and the purchaser in the sale of a private single family home in Montreal in August 2020 that set the new benchmark as the highest recorded residential property sale through the MLS® (Multiple Listing Service) system in Quebec's history.
The 6,979 square foot penthouse is perhaps the most flawlessly curated and made apartments in Montreal. Nicknamed the "Rockstar" by the engineer, the two-story residence was designed to glide over its surroundings with steel and glass construction that invites all encompassing views of the mountains, the Golden Square Mile and the Museum of Fine Arts.
The three-room, four-plus-ensuite restroom residence features 5,301 square feet of inside living space. The first floor is committed to social occasion and engaging, and features double lounges with 25 foot ceilings, a conventional lounge area and gourmet specialist's kitchen with steward's wash room and prep zone. This floor also encompasses a guest suite with an ensuite restroom and stroll in closet.
A dynamic glass and steel staircase connects the levels perfectly and practically, and a private lift can also be taken to the living quarters above. The highest level includes a luxurious master suite highlighting a master shower and a sitting territory, enormous stroll in closets, high ceilings, impressive views and access to a private patio.
The penthouse residence also features 1,678 square feet of expansive open air terraces, as well as access to The Ritz-Carlton Residences' amazing amenities and services, including a state-of-the-craftsmanship spa, fitness focus, valet, attendant, custodian and doorman.
“Montreal’s residential real estate market showed great strength throughout 2020,” said Daniel Dagenais, Managing Broker of Sotheby’s International Realty Quebec. “Across both the conventional and luxury real estate markets, we experienced record setting sales this year. In fact, according to the latest statistics released for the Montreal Census Metropolitan area by our real estate board, the median price of residential condominiums was projected to be up well over 10% in 2020.”
The record transaction demonstrates solid, underlying demand for luxury condominium property types in key Canadian markets.
“In spite of the COVID-19 pandemic, the performance of the Canadian real estate market well surpassed consumer and industry expectations in 2020, signaling strong consumer confidence in our country’s market fundamentals,” said Don Kottick, President and CEO of Sotheby’s International Realty Canada. “While the condominium market is expected to balance in 2021, this record sale illustrates that demand for top-tier luxury condominiums remains substantial. Sold to a U.S. buyer, this transaction also demonstrates that there is significant demand for Canadian real estate from local, national and international buyers.”
Favourable mortgage lending conditions and continued stock market uncertainty position Canadian real estate as an attractive and stable investment alternative, Kottick said.
Further details of the sale of this estate remain private.
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 30 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.
REAL ESTATE TECHNOLOGY
prnewswire | December 30, 2020
Blox Ventures, LLC, a Silicon Valley-based speculator and land administrator, and worldwide elective speculation firm Angelo Gordon reported today the offer of 2100 El Camino, College Terrace's First Republic Center in Palo Alto. The property is secured by First Republic's territorial office center and most as of late added Real Produce International Market, a claim to fame merchant, to its 11,000-square-foot retail space. The association attempted to guarantee long haul leases with its tenure for the future accomplishment of the property and the organizations.
"Blox Ventures and our joint venture capital partner, Angelo Gordon, are pleased with the sale of this property which, under the stewardship of its new owner, a global investment company, will continue to thrive as a strong component of the neighborhood," said Blox Ventures CEO Jason Oberman. "It has always been our goal to thoughtfully improve this asset to best serve the community and ensure the buyer shares the same commitment."
Blox Ventures and Angelo Gordon obtained the property in July 2018 after development was finished in 2017. Following the property procurement, the association finished the rent up, remembering the local center point for First Republic for Silicon Valley, whose workplaces – situated over the retail space – involve 76% of the structure. The organization likewise rented the property to neighborhood organizations, including a boutique food merchant and music gathering. The First Republic Center is set up now as one of only a handful few properties in Palo Alto's retail center that possess a full city block, profits by its closeness to the zone's key development habitats, is nearby Stanford University, and not exactly 50% of a mile to a Caltrain rail station.
The 2100 El Camino property is one of four late properties in which Blox has put resources into the prime business sectors of Palo Alto and Sand Hill Road.
About Blox Ventures
Blox Ventures, based in Silicon Valley, is a privately owned real estate investment firm focused on buying, renovating, and operating commercial properties. Blox Ventures' principals have acquired and disposed of over 6 million square feet of real estate valued at over $3 billion. Blox Ventures has worked with the area's leading technology companies on their innovation spaces and campuses.
About Angelo Gordon
Angelo, Gordon & Co., L.P. ("Angelo Gordon") is a privately held limited partnership founded in November 1988. The firm currently manages approximately $41 billion with a primary focus on credit and real estate strategies. Angelo Gordon has over 500 employees, including more than 200 investment professionals, and is headquartered in New York, with associated offices elsewhere in the U.S., Europe, and Asia.
REAL ESTATE TECHNOLOGY
prnewswire | November 09, 2020
In the past year, over 595,000 real estate professionals in the U.S. actively used their member benefit, Lone Wolf Transactions, for real estate transactions, according to usage numbers released today by Lone Wolf Technologies. The solution also added over 55,000 users from January to November, a significant increase that demonstrates the growing importance of digital transaction management to meet customer expectations during the COVID-19 pandemic. Transactions is provided nationally as a member benefit, and Lone Wolf provides the technology to over 1,000 other MLSs and associations across the country. The national member benefit features industry-leading digital forms, document storage, and transaction management.