Condo-Hotel Le Crystal is now open
March 31, 2008 by Montreal Real Estate Blog
Filed under Development & Construction, Montreal Real Estate, Popular
$80 million and three years later, the new and stylish Condo Hotel Le Crystal opens its doors for business. You know you’ve been waiting to hear about it.
The building itself is quite impressive to look at, and we’re not so worried about it’s popularity; considering they are also the owners of the trendy Le Saint-Sulpice in Old Montreal, (supposedly, one with the highest occupancy rates in the City) this new Hotel will be for sure a popular spot.
But forget about the 131 suites, what really got our attention was the 53 condos built in addition to the rooms.
According to the Gazette’s article, most of them have been already sold (of course).
“The Spa and some of the top floors are still under construction” - The condos, perhaps?
“…and are expected to be complete in the summer.”
If you want to pass by and pay a visit (even if from the outside), Le Crystal is located at:
1100 rue de la Montagne, corner of Blvd. René Lévesque. You can’t miss it, is the tallest building in that corner.
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beautiful name! in vancouver condo hotels have been a dismal failure…perhaps the first buyer benefits from the write offs but i know of none that have been able to resell at a profit. in addition, if they go into a rental pool, in which case you can only use it for one month a year, the management fees are high and they pool the joint revenue. one can do much better hiring your own property manager. what’s the history of them in montreal as far as being a good investment?
The same company (owner’s) of Le Crystal had condos for sale in Le saint Sulpice. I noticed a few years back a few listings under for sale and some for rent. I’m not quite sure what became of those properties, if they sold or not, since I never had clients looking for those type of arrangements.
The Hotel-Condo concept is still fairly new to Montreal. Hopefully, it will be a successful one.
I bought a unit from this developer at the St Sulpice. I have enjoyed ownership but decided to sell the unit a year ago. So far not even a nibble. The real estate agents may be interested in selling new units at Le Crystal because as far as I can tell they put no energy into the secondary market.