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Late bid snags two-storey Queen West townhouse

Featured on  Globe and Mail March 16, 2016 @ 11:48 am

Posted in: Done Deals, Globe and Mail, Queen West,

SYDNIA YU | The Globe and Mail | Published Thursday, Mar. 10, 2016

25 SOHO ST., TH P110, TORONTO

ASKING PRICE $849,900

SELLING PRICE $878,000

PREVIOUS SELLING PRICES $619,900 (2010); $272,309 (2003)

TAXES $4,211 (2016)

DAYS ON THE MARKET 10

LISTING AGENT Christopher Bibby, Sutton Group-Associates Realty Inc.

The Action: It’s been nearly two years since the last sale at Phoebe on Queen, so when this urban townhouse with underground parking came to market, it logged about three dozen showings in the first week.

But with no offer in sight, agent Christopher Bibby polled visiting realtors for their feedback and mentioned that the asking price was negotiable. That prompted two low-ball bids, but soon after two more generous proposals came in and the home sold for $28,100 over asking.

What They Got: Just north of popular Queen Street shops and bars, the Phoebe is a condominium complex with a roughly half-acre courtyard surrounded by three buildings with different unit sizes and styles. This 1,145-square-foot suite, which was initially the builder’s own, is a stacked townhouse with a two-storey plan that has entrances via the building or from a south-facing patio.

The main floor was recently remodelled with heated tile floors throughout the living room, dining area and kitchen, which also bears new stainless steel appliances and an island framed by decorative pillars.

The second floor features a study, laundry room and two bedrooms, including a master with hardwood floors, a walk-in closet and ensuite, which is one of two full bathrooms.

Monthly fees of $607 go towards water and heating, as well as the cost of concierge, car wash bay, gym, guest suites and party room.

The Agent’s Take: “[The buildings] all share a common courtyard, which is really unique for the city, especially when you consider you’re right at Queen and Beverley [streets],” Mr. Bibby says.

“The outdoor terrace was one of the main selling features as well. People loved the fact it really felt like you had a backyard because it backs onto that courtyard.”

Plus, this unit was not only among the largest but also immensely stylish courtesy of its last owner and a well-travelled children’s author.

“The property was not staged, but the unit showed exceptionally well. My client had owned the unit for six years and had done about $150,000 worth of renovations,” Mr. Bibby says.

“In addition to the renovations, she installed antique doors throughout, whether it was the front closet door or different sliding doors upstairs for the bedrooms.”