Media

Ample square footage attracts buyers to condo in brick heritage building

October 21, 2016 @ 8:18 pm

Posted in: Done Deals, Globe and Mail, Rosedale,

SYDNIA YU | The Globe and Mail | Published Thursday October 20, 2016

34 ROWANWOOD AVE., No. 3

ASKING PRICE $675,000

SELLING PRICE $675,000

TAXES $3,011 (2015)

DAYS ON THE MARKET Five

LISTING AGENT Christopher Bibby, Re/Max Hallmark Realty Ltd. (formerly with Sutton Group Associates Realty Inc.)

The Action: Last year, the construction of a penthouse on a century-old building made it a challenge for buyers to envision themselves in this three-bedroom-plus-solarium suite a few floors below. So it was relisted this spring – after the tradesmen and penthouse scaffolding disappeared – and promptly earned rival bids within days.

What They Got: Abutting the Toronto Lawn Tennis Club is a brick heritage structure once home to rental apartments and most recently reconfigured for seven condominium suites, including this 1,250-square-foot unit.

The interior is fairly open-concept with African mahogany hardwood floors flowing through the living room, separate dining area and a sunroom with double doors opening to a 135-square-foot balcony.

The wiring and air conditioning were updated, as well as plumbing in the bathroom, laundry room and tiled kitchen with quartz counters and stainless-steel appliances, including a wine fridge in the peninsula.

Monthly fees for the self-managed building is $855, including water and heating.

The Agent’s Take: “Given the square footage of the property, there’s a lot of value for the location,” agent Christopher Bibby says.

“The neighbouring buildings on Scrivener Square are selling for approximately $1,000 per square foot, so people were drawn to the space and square footage, and the proximity to Yonge Street, all the shops of Summerhill, TTC and restaurants.”

This unit also appealed to local downsizers looking for something stylish. “There aren’t many converted, old, large homes in the city, so it’s something very different,” Mr. Bibby states.

“[Plus] my clients had done a full renovation on it that appealed to most of the buyers, and it did also have a terrace off the back.”