Seller takes under-asking return for King West condo

PUBLISHED MONDAY, FEBRUARY 18, 2019

25 Niagara St., Toronto

Asking price: $1,350,000

Selling price: $1,285,000

Previous selling prices: $935,000 (2015); $624,000 (2007); $410,000 (2003); $373,533 (2001)

Taxes: $4,980 (2018)

Days on the market: Nine

Listing agent: Christopher Bibby, Re/Max Hallmark Bibby Group Realty

THE ACTION

According to agent Christopher Bibby, the size and setting of this three-bedroom King West townhouse across from Victoria Memorial Park likely swayed a buyer to negotiate a deal late November.

“It was a slower time of year and there was some uncertainly on the market, but overall we were happy with the outcome,” he said.

“[Plus] those townhouses don’t turn over often because of the location. Everything else is typically west of Bathurst [Street] or Strachan [Avenue].”

WHAT THEY GOT

This 1,907-square-foot unit was built in the early 2000s, part of a development called Portland Park Village comprising a mid-rise building and townhouses. It has a three-storey plan with a street-level entrance and interior access to a private garage.

South-facing terraces provide fresh air off the main living and dining area and third floor bedroom.

The decor is modern with four updated bathrooms and hardwood floors in areas like two lower-level recreation areas.

Monthly fees of $601 includes water costs and care of fitness and recreation rooms.

THE AGENT’S TAKE

“Townhomes are typical stacked, so you’re getting a lot of 600- to 800- [square-foot plans] and the largest layout is about 1,000 square feet,” Mr. Bibby said. “These are larger, almost fully single-family townhomes with three storeys plus a basement.”

This townhouse also doesn’t face another unit as some stacked counterparts do. “Off the living area was a large private terrace with views of the CN Tower,” Mr. Bibby said.

“While on the front, the dine-in kitchen overlooked the park, which is very unique.”