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Older King West condo delivers value in downtown Toronto

Featured on  Globe and Mail September 14, 2017 @ 2:18 pm

Posted in: Done Deals, Globe and Mail,

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

LISTING 701 King St. W., PH 9, Toronto

ASKING PRICE $615,000

SELLING PRICE $605,775

TAXES $2,793 (2016)

DAYS ON THE MARKET 12

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

The Action: Given the size of a three-tower complex on King Street, condo hunters generally have numerous units to choose from. For those looking for two bedrooms, nearly 20 toured this east-facing unit over the course of two weeks in late May.

What They Got: Built more than 30 years ago, this 998-square-foot suite is anchored by an open principal room with a wood-burning fireplace and access to a solarium. The latter can also be reached from a bedroom.

There are two bathrooms and a kitchen with stainless-steel appliances.

The unit comes with storage and a parking spot. Each month, $789 pays for water, 24-hour concierge and use of a recreation room, squash court, gym and indoor and outdoor pools.

The Agent’s Take: “This is a slightly older building, but in terms of amenities, there’s really nothing else like it in that pocket with a pool, basketball court, physiotherapy [room], salon, games room, movie theatre and library,” agent Christopher Bibby said.

“And the building offers a lot of value, even from a price per square foot standpoint. For a large space – closer towards 1,000 square feet – there are not many options at King and Bathurst at that price point.”

The fireplace was a rare find. “You will see the odd gas fireplace that’s done after the fact, but the wood-burning fireplaces were standard in this building and people absolutely loved it,” Mr. Bibby said.

“[Plus] we had an unobstructed east view into the city … the CN Tower and skyline.”