Downtown Montreal Real Estate Broker Agent Specialist Alex Kay Downtown Realy Team Remax Action

Lofts and condos for sale in the LO Grothe building at 2004 St Laurent
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The LO Grothe is a Loft building originally built in 1917 but converted into Lofts with a condo building annex and full underground parking in 1983.

When the LO Grothe at 2004 St Laurent was originally converted in the 1980's, Quebec was going through the middle of its 'Quiet Revolution', the province had just had its first referendum with all the economic and social chaos that came with that, and St Laurent Street (otherwise known as the 'Main') was in the very heart of Montreal's red light district. In fact it wasn't until 2002-03 when the Loft St James was completed on the other side of the Place des Arts, that the now well known 'gentrification' phenomenon started gradually pushing the red light district away from the West side of the Place des Arts. By 2010, most of the land west of the Place des Arts had found new tenants such as Le Concorde and the Louis Boheme as well as several smaller projects. All that was left was to go East on the other side of the square. The old SLEB project was purchased and finally completed as the Lofts des Arts, a luxury loft building in 2013 which is right next to the LO Grothe. Now several new projects are being built and a new public square will be finished in 2019 between St Catherine's and De Maisonneuve Boulevard. The whole area will look very well finished off and already looks more up market than any surrounding neighbourhood.

If you're wondering why all of this is important, its because the LO Grothe does not have all the ostentatious design and amenities that come with most modern constructions these days so its important to esablish context before setting a value as the history of this building is what makes it such a good purchase today.

Its industrial turn-of-the-century facade makes it almost invulnerable to ageing, it is located in the only part of the city that is left to gentrify. Last but not least, it is a concrete building with high ceilings which currently resells at between $300 and $350 per square foot. Paying this little for an authentic loft style building is outstanding value for money. Even after a full renovation, the total cost will be just over half of the cost of a new construction and with much more potential for an increase in value.

PROS: Great investment potential, impervious to ageing, gentrifying area, rooftop terrace with views of the entire area, near McGill, UQAM, the Latin Quarter and all the summer festivals. Just two mintes walk from either St Laurent or Place des Arts subway stations and the Montreal Symphonic Orchestra building.

CONS: Many older units which are livable but where serious modernising would be desirable. Neighbourhood is undergoing a lot of new construction and still a little bohemian for some. the LO Grothe lacks the amenities of many other buildings. It should be noted that there are extensive public facilities within minutes walk of the building.
the LO Grothe building 2004 St Laurent in Downtown Montreal
Roof terrace in the LO Grothe building at 2004 St Laurent
Lobby in the LO Grothe Lofts building 2004 St Lauren entrance
Roof terrace views at the LO Grothe building Lofts for sale

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