Vancouver real estate: first offered for $63 million, Belmont Estate gets sold but details remain private

    1 of 1 2 of 1

      Sotheby’s International Realty Canada has announced the sale of the Belmont Estate in Vancouver, which it said set a new record high in terms of price.

      However, the realty company stated in a news release Thursday (July 22) that details of the deal are private.

      The 4743 Belmont Avenue mansion is owned by philathropists Joseph and Rosalie Segal.

      Based on previous media reports, the 21,977-square-foot residence came on the market in 2017 with an asking price of $63 million.

      In 2019, reports indicated that the price was reduced to $58 million.

      Sotheby’s said in the media release that the sale “surpassed a historic record for Greater Vancouver”.

      Also, the deal is “now the region’s highest single-family residential sale on a single lot”.

      The Point Grey-area home sits on a 1.28-acre (0.5 hectare) lot with ocean, downtown, and mountain views.

      B.C. Assessment placed the 2021 value of the property at $33,839,000.

      The land is valued at $25,006,000, and the custom-built home, $8,833,000.