Westmount mansion sells for record $18.5 million
Westmount mansion sells for record $18.5 million
The bar for the most expensive home ever sold in Quebec just rose a little higher. A historic home known as the “Downton Abbey of Westmount” — has sold for $18.5-million in a private sale, edging out the previous $18-million record set in 2020 in Ville-Marie.
November 14, 2022
Author of the article:
Briana Doyle •  Montreal Gazette
Publishing date:

December 14th, 2021

Inspired by 1800s English architecture, the stone mansion was built in 1910 for Lt.-Col. Charles A. Smart, a politician, military man, mining investor, banker, and entrepreneur, and was later owned by Mattawa, Ont.-born mining and railway titan Jules Timmins. The architects of the home, Ross and McFarlane, also designed the former Eaton’s building in Montreal. Famed McGill architecture professor Percy Nobbs also had a hand in designing some of the courtyard features, such as the wrought iron fence.

The interior of the Timmins Estate in Westmount is seen in a 2016 video posted by Sotheby’s International Realty

The transaction was brokered by luxury real estate specialist Joseph Montanaro. While Montanaro said he could not share details of the sale in order to protect the privacy of his clients, he did confirm that the sale took place privately without the house being listed on the MLS system, and that he represented both buyer and seller.

“It’s not a common practice, but I have done quite a few high-end deals off MLS,” Montanaro said.

The interior of the Timmins Estate in Westmount is seen in a 2016 video posted by Sotheby’s International Realty

According to a report by the Journal of Montréal, the bill of sale indicates that the new owner is Pinar Cetin, spouse of 39-year-old Rami Atallah, CEO and co-founder of the Montreal-based online luxury store Ssense. The company was founded 18 years ago by Atallah and his brothers Firas and Bassel in their parents’ Montreal basement. In June, the company announced a financing deal with Silicon Valley investment firm Sequoia Capital that valued Ssense at over $5 billion.

Montanaro said most sales of ultra-luxury homes he has been involved with since the COVID-19 pandemic have been to buyers with local roots, not jet-setters from abroad.

“It’s no secret the international (buyer) market has dried up,” he said. “It’s been mostly local buyers. But the encouraging part is that people feel comfortable to spend these sums of money in Montreal. Money’s being earned here in Quebec and being invested in real estate and in the greater economy. That’s a very positive sign.”

The interior of the Timmins Estate in Westmount is seen in a 2016 video posted by Sotheby’s International Realty

Although publicizing a home listing on MLS can increase the visibility of a home, which in turn may increase the final sale price, Montanaro said some high-end sellers prefer to protect their privacy by signing an exclusive brokerage contract that does not include a public listing. By doing this, the sellers can avoid posting photos of the interior of their home online and restrict visits only to qualified buyers with the means to finalize a deal. This style of sale relies heavily on the broker’s networking ability to find a buyer — a much easier task in today’s tight market.

Montreal has seen record sales this year in tony areas like Westmount, Nuns’ Island, and the West Island, but prices remain far below Vancouver, Toronto, and international markets, Montanaro noted.

One of the ten bedrooms in the Timmins Estate in Westmount is seen in a 2016 video posted by Sotheby’s International Realty

“I have tons of buyers that I’ve been working with for years and there’s still not enough product for these buyers to buy,” he said. “I think as long as there’s a lack of product, as long as supply remains low, there’s going to be room for price increases.”

As impressive as it is, the Sunnyside Ave. home is far from the most expensive home for sale right now in Montreal. At the time of writing, there were at least five homes on the island of Montreal asking even more. The most expensive Montreal home on Centris, an eight-bedroom, 15-bathroom property, was also represented by Montanaro, who described it as “24,000 square feet of luxury.”

The $35-million home has had two offers so far, but none the seller was willing to accept.