NEW RECORD: Mansion sets record for most expensive house ever sold in Mississauga, Ontario

By

Published October 16, 2024 at 1:01 pm

most expensive house sold in mississauga
The most expensive house sold in the GTA in 2024 is located in Mississauga's Sheridan neighbourhood - Photo courtesy of Sam McDadi Real Estate Brokerage

The palatial Saint George mansion, a spectacular Doulton Drive home that spans over 25,000 square feet, recently sold for $17 million. 

Sold by Sam McDadi Real Estate Brokerage, the house, which has been off and on the market since 2019, is the most expensive home ever sold in Mississauga and the highest-priced home sold in the GTA in 2024. 

“We were really fortunate and pleased to represent the sellers in the sale. In my opinion, it’s probably the most iconic home ever built in Mississauga,” McDadi told INsauga.com. 

Designed by world-renowned architect Ferris Rafauli, the French-inspired chateau has appeared in several popular movies and TV shows, including Netflix’s Painkiller and Amazon Prime’s The Boys. The Netflix series actually opens with a wide shot of the mansion, which belongs to the character Richard Sackler in the show. Painkiller star Matthew Broderick is shown walking through the interior of the mansion and dancing in the entryway in one episode.

McDadi’s brokerage says the Saint George Mansion has also captured the attention of YouTube personalities, luxury home enthusiasts, and media outlets. 

Located off of Mississauga Road in the city’s upscale Sheridan neighbourhood, the mansion had, prior to the recent September sale, only been owned by the sellers who initially built it from scratch in 2007. 

“It was their dream house and meant to be their forever home, but life plans change,” McDadi says, adding that the sellers were pleased to find the right buyer and close the chapter. 

“They took several years to build this masterpiece.”

The selling process took quite some time. The home was first listed in September 2019 for $50 million and stayed on the market for that price until 2021, online real estate sites show. It was reduced to $29,900,000 in 2022, then the price dropped to $25 million in early 2024. Finally, it was listed for $20 million in September and sold for $17,100,000.

McDadi says that once it was priced at $20 million, more prospective buyers took notice. 

“Over the two weeks before it sold, we had 10 showings, which is unprecedented for a property in this price range,” McDadi says, adding that it sold for $5 million more than the most expensive house that had been sold in the city prior to this most recent sale. 

The finishes and features, he says, are spectacular. 

“They have an Indiana limestone exterior, possibly valued at $10 million now. That itself is pretty spectacular,” he says, adding that the house also boasts a state-of-the-art gym, a private nightclub, a three-tiered theatre room with Lamborghini leather seating and parking for up to 12 cars. 

The house has been featured in INsauga.com several times over the years, as it exudes luxury. Along with the gym and theatre, the house also features 14-carat gold details, a great room, his and her walk-in closets, and a spa. It has seven bedrooms and 14 bathrooms and has been ranked one of the most-viewed homes in Canada.

The setting is also fittingly luxurious. The mansion sits on a private, gated two-acre lot beside the Mississaugua Golf and Country Club. The house also offers access to a number of community amenities, including top schools and popular shops and restaurants. 

McDadi says the sale price is higher than that of luxury homes recently sold in some of the GTA’s most prestigious neighbourhoods, including the Bridle Path and Forest Hill in Toronto and southwest Oakville. 

McDadi says luxury properties can take longer to sell because fewer buyers are in that income bracket. 

“When you’re in that $20 million price range, you have a limited buyer pool. But we got a lot of traction and a lot of showings so that price range made sense to a lot of buyers. If someone is listing [a house in that price range], I’ll tell them it could take six to twelve months. It’s not an overnight process.” 

As for whether a lot of people came through just to admire the mansion, McDadi says his team was careful to ensure that only serious buyers could browse the iconic property. 

“We were discerning with showings. We had to qualify the buyer pretty extensively. We didn’t just let the public through; we asked qualifying questions to make sure they could purchase.” 

That said, people are never shy about stopping to admire the grandiose exterior. 

“The times I was there showing the property, people would just stop and slow down and stare at the house. It’s an architectural masterpiece,” McDadi told INsauga.com. 

When asked if it’s uncommon for houses in Mississauga to fetch such staggering prices when they’re further out from the downtown amenities that make Toronto homes so coveted, McDadi says he’s seeing more high-income buyers, including some professional athletes, eyeing the GTA city. 

“Historically, the Toronto properties would fetch more, but in recent years, I’ve seen people shift a little further west. They like the feel of the communities. Mississauga has certainly held its own in terms of high sale prices as well as desirability.”

INsauga's Editorial Standards and Policies