Promoter Stéphan Huot has just lowered the sale price of his majestic Lebourgneuf mansion as well as his luxurious condo in Florida, our investigation office noted.
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Stéphan Huot’s main residence – which contains three garages, a swimming pool, an elevator, six bedrooms, three bathrooms as well as an independent accommodation – had been on sale since April 2023 for the tidy sum of nearly 3.7 M$.
The price of the house was, however, reduced to $2.995 million, just after the Easter holiday, we can see on the sales sheet.
Screenshot of Re/Max website
This is a significant drop for this property valued at $2.265 million on the property assessment roll. Especially since the mansion was first listed at $4.7 million, in 2021, before being withdrawn from the market for a period of two years, due to a lack of buyers.
Threat of seizure
Note that this residence, heavily mortgaged, is also the subject of a procedure by the Royal Bank, which threatened Stéphan Huot to seize it at the beginning of the year.
In January, the financial institution issued a notice to exercise the right of sale under judicial supervision.
Huot then had arrears of nearly $32,000 on his RBC Owner’s Line, the current balance of which would be $2.25 million, according to documents obtained by our Investigation Office.
Huot also allegedly failed to pay $23,600 in municipal taxes as well as some $2,200 in school taxes related to this property, for 2023.
The Royal Bank ordered him to abandon his mansion within 60 days, in order to proceed with the liquidation. This deadline having expired, the creditor could go to court to obtain a judgment of abandonment, but the personal bankruptcy of Stéphan Huot could muddy the waters.
Florida Penthouse
On the other hand, Stéphan Huot is reportedly on the verge of concluding the sale of his sumptuous Florida penthouse, located in the suburbs of Miami, after having subtracted more than $3 million from its initial sale price.
In April 2023, our Bureau of Investigation reported that the four-bedroom condo with breathtaking views of the ocean, acquired in 2009, was on the market for $6.9 million US, or $9.3 million Canadian.
Screenshots taken from zillo
This 4,677 square foot penthouse is now listed for $4.495 million US, or a little over $6 million Canadian.
Remember that Stéphan Huot had already sold, in May 2023, his imposing Scandinavian-inspired chalet on the shores of Lake Manouanis, north of Saguenay, for $6.8 million. It was then purchased by a small group of creditors.
Journalistic source
Note that Stéphan Huot also recently liquidated two lots in Lac-Beauport, with a combined value of $272,900 according to the municipal assessment. These lands were also taken over by one of his creditors.
With Philippe Langlois, Investigation Office