Ontarians may remember the infamous Markham mansion that was raided by police last year for running an illegal casino and spa. Well, the house is now out of police custody and just hit the market for a pricey $9,980,000.
The 30,000 sq ft mansion, with its eight bedroom and 16 bathrooms, is located at 5 Decourcy Court in the Devils Elbow neighbourhood of Markham.
The raid, dubbed Project Endgame by York Police, went down in July of last year and resulted in 29 people being charged with more than 70 counts, and 11 guns, slot machines, game tables, and more than $10 million in assets were seized.
When braised shark fin is on the menu and the max bet at the baccarat table is $20k, you can expect plenty of cash around. To guard that cash, these suspects had guns. Lots of them. Further details at https://t.co/3m7Ct9rNDe. pic.twitter.com/hpl1eCoTSI
— York Regional Police (@YRP) September 30, 2020
According to Zoocasa agent Anthony Tomasone, the property’s checkered past may pose some problems when trying to sell it.
“A quick search for the address and you can get a lot of additional details about the investigation,” Tomasone told Daily Hive. “This will be a stigma that this house will have going forward and something the future buyer would need to consider.”
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The listing for this house is also notably missing any photos of the inside, with just the exterior and landscape being featured.
If sold for its asking price, the Markham mansion would be well above anything else that’s been sold in the area.
“At its current listing, it would be the highest priced property that has been listed in the Devils Elbow area,” Tomasone said. “Previously, the most expensive house that was sold in the area was for $7.2 million last year but was a third the size of this house.”
Combine the high price with the stigma surrounding the property, and the potential buyer pool becomes quite small, Tomasone says.
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For any potential buyers worried about accidentally buying a house with a not-so-pleasant past, Tomasone always recommends checking out the home’s sale history and doing a quick Google search.
“I like to always search a house address online to see if there are any stigmas to the particular house — grow op, involved in a crime, etc. — and advise clients to do the same when browsing houses,” he said. “Usually these houses are underpriced and sitting on the market for longer than others in the area. If it’s too good to be true, unfortunately, it usually is.”