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Battle for condo among freeholds in Forest Hill

Featured on  Globe and Mail August 08, 2017 @ 12:48 pm

Posted in: Globe and Mail,

SYDNIA YU | THE GLOBE AND MAIL | PUBLISHED THURSDAY AUGUST 3, 2017

500 ST. CLAIR AVE. W., NO. 507, TORONTO

ASKING PRICE $535,000

SELLING PRICE $618,8000

PREVIOUS SELLING PRICE N/A

TAXES $2,972 (2016)

DAYS ON THE MARKET One

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

The Action: The Forest Hill is one of few high-rises in a largely freehold neighbourhood, so vacancies materialize about once a month, although several months can pass between sales. So this spring, this two-bedroom corner suite had three bids following just a dozen showings and an agents-only open house.

“We haven’t seen much up for sale, especially smaller two-bedrooms, so this was quite unique in a sense there were a lot of one-bedroom and larger two-bedroom inventory,” agent Christopher Bibby says. “We took offers at any time, so that’s probably what enticed people to come right away.”

What They Got: Save for two bathrooms, every room of this 850-square-foot suite features either south- or east-facing windows, from the bedrooms to a combined living and dining area with a balcony.

Modern essentials include hardwood floors, stainless-steel kitchen appliances and laundry machines, as well as a locker and parking.

Monthly fees of $645 cover water and heating, as well as concierge, guest suites, fitness and party rooms.

The Agent’s Take: “A lot the buyers were interested due to the proximity to the streetcar at your doorstep, subway nearby and a Loblaws across the street, [plus] access to all amenities of St. Clair, daycare and Wychwood Barns,” Mr. Bibby notes.

“What’s attractive about this [unit] is that in a lot of the smaller two-bedroom units, the second bedroom is generally more set back and more of an interior room, but this one has a window and natural light.”