REAL ESTATE TECHNOLOGY

Quebec Real Estate Record Sale of Penthouse Condominium Breaks

businesswire | January 13, 2021

Quebec Real Estate Record Sale of Penthouse Condominium Breaks
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.

Spotlight

David Lukes has ser ved as CEO of Equit y One since June of 2014. Prior to joining Equit y One, he ser ved as President and CEO of Sears Holdings Corporation affiliate Seritage Realty Trust. Mr. Lukes’ past experience included ser ving from 2010 to 2012 as the President and CEO of Mall Properties, Inc., a privately owned real estate firm based in New York. From 2002 to 2010, he worked in various senior management positions at Kimco Realt y Corporation, the largest owner and operator of retail shopping centers in North America, including ser ving as its Chief Operating Officer from November 2008 to April 2010.

Related News

Better Homes And Gardens Real Estate Announces Its 'Summer at Home' Campaign

Better Homes and Gardens Real Estate LLC | July 29, 2020

Better Homes and Gardens Real Estate LLC, the leading real estate lifestyle brand, announced today its Summer at Home campaign for consumers seeking creative ways of enjoying the summer from their own homes. The campaign was fueled by insights from the Better Homes and Gardens® Real Estate brand's vast network of affiliated brokerages and agents who have their pulse on the latest home lifestyle trends in their communities. "The summer of 2020 will be defined by trends such as outdoor experiences, more intimate gatherings and home being a haven for staycation experiences. People are looking for inspiration on how to make this time memorable," said Jennifer Marchetti, Chief Marketing Officer at Better Homes and Gardens Real Estate. "Better Homes and Gardens Real Estate was built on a brand that's been an integral part of the American home since 1924. Our lifestyle content helps our clients add style and fun to big and small moments alike.

Read More

REAL ESTATE TECHNOLOGY

SkySlope Launches Breeze to Make C.A.R. Disclosures Fast and Effortless

SkySlope | November 17, 2021

SkySlope, the leader in real estate transaction software, has launched Breeze, an all-around simple and streamlined application that makes the disclosure process easy for agents and sellers. SkySlope's flagship transaction management platform enables brokers, agents, auditors, and transaction coordinators to track their deals while remaining compliant. Equipped with forms and a digital signature tool, SkySlope provides a frictionless workflow that saves time for agents and improves compliance for brokers. As the transaction management platform serving over half of the top 20 largest brokerages in the U.S. and Canada, SkySlope is known for its customized onboarding and 24/7 award-winning technical support. With the launch of Breeze, SkySlope is providing a free standalone product that gives agents the ability to prepare, send, and receive completed disclosures. The application comes with a host of benefits that help both agents and their clients save time while preventing mistakes and reducing risk. As a tool designed for both the agent and the consumer, Breeze simplifies the disclosure process. Its intuitive platform requires minimal preparation for agents to prepare and send disclosures to their clients in minutes. For consumers, Breeze's guided workflow helps them complete disclosure forms like the Seller Property Questionnaire (SPQ) and Transfer Disclosure Statement (TDS) quickly and with more confidence and accuracy. Breeze Features:- Streamlined disclosure preparation equipped with MLS data sync Status visibility, notifications, and easy revision requests Simple guided workflows with helpful tips for consumers Equipped with SkySlope DigiSign for free and unlimited digital signatures Seamlessly integrated with SkySlope's suite of products "Breeze is truly a one-stop-shop for faster disclosures. he guided workflow helps clients complete disclosures quickly and accurately and our agents can easily prepare disclosures, request signatures, and submit forms for compliance review." - Diana Costas of Golden Gate Sotheby's International Realty. "Disclosures are a common pain point for both agents and sellers. We're excited to launch a solution that takes a complicated process and makes it effortless for agents and consumers. Breeze saves time, reduces risk, and tremendously improves both the agent and the consumer experience. It truly makes disclosures a breeze." - SkySlope CEO, Tyler Smith. Breeze is currently available in California and will be launching to additional states in 2022. About SkySlope Established in 2011, SkySlope is a comprehensive transaction management platform for brokers, agents, auditors, and transaction coordinators to manage real estate transactions from anywhere at any time. In 2021, over 300,000 users across 8,000 offices used SkySlope to manage 2.25M transactions. SkySlope provides digital transaction management and services to help agents and brokers be more efficient and compliant. From automation to integrations, SkySlope's vision is to keep agents and brokers connected to the customer forever.

Read More

QuadReal Property Group launches Green Bond Framework to finance sustainable investments

QuadReal Property Group | July 18, 2020

QuadReal Property Group ("QuadReal") is proud to announce today its Green Bond Framework to finance sustainable investments and projects through BCI QuadReal Realty ("BQR"). BQR is the primary issuing entity of unsecured notes for British Columbia Investment Management Corporation's ("BCI") real estate program. BCI is a Canadian leader in investment fund management that provides services to British Columbia's public sector. "When QuadReal was launched, we established the principles of responsible investing and management," said Dennis Lopez, QuadReal's Chief Executive Officer. "QuadReal's Green Bond Framework demonstrates our approach to how we select and execute our projects to achieve the goal of having a positive impact on the environment."

Read More

Spotlight

David Lukes has ser ved as CEO of Equit y One since June of 2014. Prior to joining Equit y One, he ser ved as President and CEO of Sears Holdings Corporation affiliate Seritage Realty Trust. Mr. Lukes’ past experience included ser ving from 2010 to 2012 as the President and CEO of Mall Properties, Inc., a privately owned real estate firm based in New York. From 2002 to 2010, he worked in various senior management positions at Kimco Realt y Corporation, the largest owner and operator of retail shopping centers in North America, including ser ving as its Chief Operating Officer from November 2008 to April 2010.