Vancouver

Philanthropists Joe and Rosalie Segal List Home for Record $63m

By
REW.ca
June 23, 2017






Joe Segal Main

Oceanview mansion on Point Grey’s “Billionaires’ Row” would set new record if sold at list price

Well-known local philanthropists Joe and Rosalie Segal have put their Point Grey property on the market for $63 million – very likely by far the most expensive listing in Canada, and which would set a record if sold at listing price.

Sotheby’s International Realty Canada has not listed the oceanview mansion on the MLS® nor released the address, but records show the property is at 4743 Belmont Avenue – the West Point Grey road famously known as “Billionaire’s Row”.

Self-made businessman Joe Segal, now 92, founded the Fields department store chain and created a successful holding company, Kingswood Capital. In 2010, the Segals made news with their $12 million gift to the VGH and UBC Hospital Foundation for a mental health facility known as the Segal Centre.

The home that the Segals are listing is close to 22,000 square feet, and located on a very private, 1.28 acre lot that slopes down towards the ocean, with incredible views of English Bay and the North Shore mountains. It has elegant, terraced gardens and opulent interiors, including a spectacular indoor swimming pool. There are two huge halls that can seat up to 100 guests for parties and concerts, as well as five bedrooms, 12 bathrooms, an elevator, a six-car garage and a separate suite with its own entrance.

The Segals bought the empty lot in 2007 for $7 million, and Rosalie Segal oversaw the construction of their home. It was most recently assessed, in July 2016, at $40.3 million – at a time just before the foreign buyer’s tax was introduced and single-family detached home prices were at their peak. Super-high-end homes on the West Side have slipped in price since that time.

The Segals’ home is by no means the highest-assessed property in Vancouver – that honour goes to Chip Wilson’s $75.8 million home nearby on Point Grey Road, while the Segals’ neighbour at 4707 Belmont Avenue has the second-highest assessment in the province at $69.2 million.

The next most-expensive home listed for sale in Vancouver – Canada’s previous priciest listing, and still topping the MLS® price charts – is this Shaughnessy mansion, listed for $46.8 million.

Want a sneak peek of what $63 million will buy you? Check out the photos of the Segals’ remarkable home and property, below.

 

Joe Segals 1
(Courtesy: Sotheby's International Realty Canada)

The 1.28-acre lot has been elegantly landscaped with formal gardens that match the home’s grandeur 

 

Joe Segal 2
(Courtesy: Sotheby's International Realty Canada)

Clearly the Segals’ taste in interior décor runs to the opulent, with an incredible attention to detail

 

Joe Segal 3
(Courtesy: Sotheby's International Realty Canada)

If you have a dining room this enormous, why not have not one but two huge dining tables?

 

Joe Segal 4
(Courtesy: Sotheby's International Realty Canada)

The grand but cozy, wood-panelled den/library also enjoys incredible ocean views 


Joe Segal 5
(Courtesy: Sotheby's International Realty Canada)

This absolute dream of an indoor swimming pool is part of the $63 million package 

 


Joannah Connolly has been editor and content manager of REW.ca since May 2014. Joannah has appeared on major local TV outlets as a real estate commentator, and has moderated and spoken on several industry panels. She also hosts the Real Estate Therapist radio show on Roundhouse Radio 98.3FM, discussing the housing market with expert guests and dispensing personalized advice to listeners. A dual Canadian-British citizen, Joannah has 20 years of journalism experience in Vancouver and London, with a prior background in construction, architecture and business media.
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