Hundreds of properties change hands in Quebec every day, most without knowing the details. That was before we got interested… Here are the latest deals that caught our attention.
Less than a year after being fired from management, Canadian National (CN) Senior Vice President and Chief Operating Officer has just sold his L’Île-des-Sœurs apartment for the sum of $2.2 million, admitting in order to make a substantial profit.
This condominium is located at 200 Rue Hall in the Verdun neighborhood of Montreal. Also known as Val-de-l’Anse, this 124-story, 15-storey building was built in 1988 on the banks of the Saint Lawrence River. Residents of the property also have access to two in-ground swimming pools (indoor and outdoor) and a beautifully landscaped waterfront garden.
Google Street View
Robert Martin Reilly, better known as Bob Reilly, joined CN’s headquarters in June 2019 as senior vice president and chief operating officer. Last November, he was removed from office after a little over three years and immediately replaced by Edmond Harris, another dean of the railroad industry (CN, CP, CSX, Illinois Central).
Apartment 111, where Mr. Reilly lived with his wife, Traci Linn Reilly, was purchased in December 2020 for $1,925,000. It was notable for having no fewer than three indoor parking spaces, a rarity in Montreal.
Just two and a half years later, the two Texas owners managed to get rid of it for 14% more, resulting in a profit of $275,000.
Transfer fees of US$45,693 payable to the City of Montreal will be added to the sale price of the property to buyers.
Excerpt from the Journal’s weekly real estate column. If you learn of an interesting transaction, don’t hesitate to share it with us at [email protected].