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Ossington penthouse draws seven bids, with winner well over asking

Featured on  Globe and Mail July 10, 2017 @ 3:29 pm

Posted in: Done Deals, Globe and Mail,

SYDNIA YU | THE GLOBE AND MAIL | PUBLISHED THURSDAY, JULY 6, 2017

41 Ossington Ave., Ph 05, Toronto

ASKING PRICE

$995,000

SELLING PRICE

$1,230,000

TAXES

$5,662 (2016)

DAYS ON THE MARKET

Seven

LISTING AGENT

Christopher Bibby, Re/Max Hallmark Bibby Group Realty

The Action: The sheer size of this two-bedroom penthouse was well suited for empty-nesters to families priced out of freehold properties, so it had a long list of suitors requesting private showings and attending the agents only-open house in mid-May.

“We’re not seeing a lot of 1,200-square-foot units, so it appealed to everyone,” agent Christopher Bibby says. “Even in a transitioning market, where consumer confidence is mixed, it was spectacular to see seven offers and sell $235,000 sold over the list price.”

What They Got: The top floor of a fairly new mid-rise offers just a handful of penthouses. This one to the east has windows facing all directions, but west, and a 400-square-foot terrace off the living and dining area.

Interior decor is contemporary with hardwood floors throughout, two sleek bathrooms and a Scavolini kitchen with stainless-steel appliances and an island with a breakfast bar.

The unit comes with ensuite laundry facilities and a storage locker, plus a spot in a garage with a stacking system. Monthly fees of $710 covers water and heating.

The Agent’s Take: “The suite took up the entire rear of the building, so you had windows to the north, south and entire east end of the building,” Mr. Bibby explains.

“[Thus] the terrace was the entire width of the building, so you could not see any other suites or neighbours. And by facing east, you were overlooking all the freehold properties in Trinity Bellwoods and had a completely unobstructed view into the downtown core and of the CN Tower.”