- What Mercer Group is seeking buyers for a four-storey apartment building in Montréal
- Why The valuation works out to $397,000/unit
- What next Colliers is handling the marketing campaign
Mercer Group is looking to sell a 37-unit Montréal apartment building at an asking price of $14.7m, Green Street News can reveal.
At 5550 rue de la Côte-Saint-Luc in the Côte-des-Neiges-Notre-Dame-de-Grâce neighbourhood, the four-storey property totals 46,000 sq ft. At the asking price, the sale would work out to about $397,000/unit. Colliers has the marketing assignment.
This marks Mercer Group’s third apartment listing this summer after putting a studio-heavy building in Plateau Mont-Royal and a 99-unit midrise in Côte Saint-Luc on the block. Both properties are seeking $30m.
This latest offering, built in 1931, has eight one-bedroom, 20 two-bedroom and nine three-bedroom units. Twenty-one of the apartments have undergone modern renovations. The property has 22 parking spaces.
The building is close to Monkland Village, with both the Jewish General Hospital and Université de Montréal less than 3km away.
Mercer Group is a Montréal-based investor and operator focused on multifamily and commercial assets in the Greater Montréal Area. The firm specializes in repositioning underperforming properties through renovations and active management.
