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Buyers race to bid for Financial District condo

Featured on  Globe and Mail December 07, 2017 @ 11:40 pm

Posted in: Done Deals, Globe and Mail,

SYDNIA YU | THE GLOBE AND MAIL | PUBLISHED DECEMBER 7, 2017

21 Nelson St., Lph13, Toronto

ASKING PRICE: $799,900

SELLING PRICE: $800,000

TAXES: $3,895 (2017)

DAYS ON THE MARKET: Three

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

The Action: Without an offer date established for this lower penthouse at the Boutique building, two buyers raced to produce an offer the seller would accept late October.

“In the general neighbourhood, a lot of the new developments, especially in the last year, have been quite close to $950- to $1,000-a-square-foot,” agent Christopher Bibby said. “This building being slightly older, there’s really good value because a lot of the units are a lot larger.”

“For lower penthouses, there might only be two or three [home ownership] opportunities in a year.”

What They Got: This two-storey suite offers 1,100 square feet of living space centred around an open kitchen and entertaining area with hardwood floors and 18-foot ceilings along the windows and sliding balcony doors.

Upstairs is an open den and master with a walk-in closet and larger of two bathrooms.

The unit comes with kitchen and laundry appliances, a locker and two-car parking. Monthly fees of $818 covers concierge, water and heating, as well as care of a rooftop deck, fitness and party rooms.

The Agent’s Take: “This being a lower penthouse, it has a lot of natural light and high ceilings,” Mr. Bibby said. “The location certainly was part of the appeal for those who want to walk to work in the Financial District or love being down the street from Shangri-La hotel, [and] have quick access to the Path and highways. You’re right in the heart of the Entertainment District as well.”