Good-Bye Sleb, here comes Lofts des Arts

Deya Bautista — Mon, 12 Jan 2009 15:38:46 +0000

If you’ve been reading the blog long enough, you’d probably remember the article about Sleb and the scandal with the developer back then, the money being owed to the people who purchased and the legal battle between the promoter (Minco), creditors (Dalle Nogare) and the buyers.

The news were released last year, the Sleb project was finally settled and taken from Minco by the Dalle Nogare family. The buyers who lost money on the initial investment were reimbursed and a new project was born: Lofts des Arts.

There are 102 industrial style condos, from 818 to 1650 sq ft, with 10 foot ceilings and hardwood floors. The asking price starts at $250,000. There’s no model unit to see, because (according to the sales rep) “every unit is different and unique”.

Wishing best of luck with the new project and I’m happy to hear the buyers from Sleb got their money back. Will they return to the new project? My friend who bought there decided not to take a chance with the new developer. Maybe others will be more adventurous.

Posted By: Deya Bautista - Real Estate Broker working as part of the McGill Immobilier team. Specializing in high end condos in downtown and Old Montreal. For buying or selling contact Deya at: 514.917.7889 http://montrealrealestateblog.com/

SLEB: The criminal scandal behind the luxury project.

Deya Bautista — Wed, 12 Mar 2008 14:00:08 +0000

The luxury condo development called Sleb on the corner of St. Laurent and Ontario was originally started by Minco Construction. In 2003 by Luciano Minicucci. Dozens of home buyers invested at the pre-construction level of this project.

The project started in 2003 to be completed in 2005 and that same year Minco Construction sought bankruptcy protection from it’s creditors, since then no work has been completed in Sleb. Last November the superior court withdrew the project from MINCO Corporation to give it to Bartolo Dalle Nogare (9170-6929 Quebec Inc.), the new owner.

Luciano Minicucci was arrested in Italy in mid January 2008, for extortion against the new owner of Sleb.

The new owner does not know what he will do for the existing project, leaving dozens of people fearing they will lose on their investment.

However according to l’Association de la construction du Québec it is expected that all deposits are to be returned to affected buyers.

[UPDATE January 2009] Good-Bye Sleb, here comes Lofts des Arts

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Good-Bye Sleb, here comes Lofts des Arts

SLEB: The criminal scandal behind the luxury project.