Montreal – On August 22, 2024, 8253803 CANADA INC. (Placements Sergakis Inc.) sold vacant lots located on Vaillant and Turcot streets for approximately $1.4 million. These lots, initially acquired in 2012 for $550,000, have an area of about 6,500 sq. ft. and were valued at nearly $700,000.
The sale represents a significant return on investment for Placements Sergakis Inc., with the selling price more than doubling the original purchase price from 12 years ago. The transaction also indicates a substantial increase over the current assessed value of the properties.
This sale of undeveloped land in Montreal highlights the ongoing demand for real estate in the city and the potential for value appreciation in strategic locations.
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