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.
The president of Shopify, a Canadian e-commerce giant, just sold his second home in Lac-Sainte-Marie, just over an hour north of Ottawa, for the princely sum of $3,777,150.
The latter, a three-story residence of about 450 m2, is located near the slopes of Mont Sainte-Marie, at Chemin du Radar 33, in the territory of the small commune of Outaouais.
In recent months, businessman Harley Finkelstein, a major player in e-commerce in the country (Shopify is present in 175 countries around the world), has repeatedly explained his decision to leave the capital to settle in Montreal.
Harley Finkelstein, President of Shopify. Courtesy of Shopify
A city he sees as one of the richest in the world in terms of culture, community spirit and entrepreneurship. The latter has since settled in its center, in the affluent community of Westmount.
This transaction is unique. According to documents seen, the buyer has just over three years to pay for the entire property without penalty or interest. The term specified by the seller is limited to three years or until October 15, 2026. A deposit of $250,000 has already been paid.
The sellers, Mr. Finkelstein and his wife Lindsay Ilana Taub, became owners of the property in 2017. An initial portion of the property was purchased for $25,000. In 2020, a second property was purchased for $110,000. A house has now been built.
In the most recent municipal assessment roll, this residence was assigned a tax rate of $912,000, an increase of 25% compared to the previous tax rate ($729,600).
In 2023, municipal taxes were $9,590. For buyers, transfer taxes of $104,158 will be added to the purchase price.
–With the contribution of 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].