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Three-bedroom Toronto condo sells amid market ‘pandemonium’

Featured on  Globe and Mail September 15, 2017 @ 3:32 pm

Posted in: Done Deals, Globe and Mail,

SYDNIA YU | THE GLOBE AND MAIL | PUBLISHED THURSDAY, SEPTEMBER 14, 2017

LISTING 500 Sherbourne St., No. 303, Toronto

ASKING PRICE $825,000

SELLING PRICE $815,000

PREVIOUS SELLING PRICE $590,631 (2011)

TAXES $4,981 (2017)

DAYS ON THE MARKET 15

LISTING AGENT Christopher Bibby, Re/Max Hallmark Bibby Group Realty

The Action: Homeowners generally outnumber renters in this roughly seven-year-old high-rise downtown, meaning there are generally few vacancies. So when this 1,548-square-foot corner suite came to market in May, it held the attention of about two dozen potential buyers.

“It’s the largest suite in the building and it ended up being the highest sale recorded in the building,” agent Christopher Bibby said. “You don’t see a lot of three-bedroom-plus-den condominiums downtown, so in the midst of all the pandemonium in the spring, I looked at this as an attractive option for families.”

What They Got: With recent improvements executed by the seller, this third-floor unit is modern in form and function, from its open den, living and dining quarters to newer hardwood floors, kitchen and laundry appliances.

The master bedroom is outfitted with a walk-in closet and one of three modernized bathrooms. The condo comes with a storage locker and parking.

Monthly fees of $986 cover heating and water, along with concierge, and use of guest suites, a gym and rooftop deck.

The Agent’s Take: “There were updates done throughout,” Mr. Bibby said. “The major attraction was also the amenities in the building with a party room, theatre and indoor swimming pool.”