Buyer moves quickly to secure two-bedroom condo in downtown Toronto

Written by Sydnia Yu | Published in The Globe and Mail
47 Lower River Street
In the Press
November 28, 2018


47 Lower River St., No. 346, Toronto

Asking price: $775,000

Selling price: $770,000

Previous selling price: $419,153 (2013)

Taxes: $3,091 (2018)

Days on the market: Two

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

The action

In November, barely 48 hours passed before a quick-thinking buyer filed a bid for this two-bedroom-plus-den suite condo in downtown Toronto at River City near the former Pan Am Games site.

“There were a lot of one-bedroom and one-bedroom plus dens being offered, so the fact we came out with a two-bedroom and two-bathroom [unit] is uncommon,” agent Christopher Bibby said.

“There are a lot of couples being priced out of the housing market or empty-nesters looking to downsize, so we’re seeing a real spike in demand for two-bedroom suites.”

What they got

Montreal firm, Saucier + Perrotte Architectes, designed the multiphase community where this 865-square-foot suite boasts nine-foot ceilings and a balcony off the principal room.

Hidden out of sight is a den at the entryway into the master bedroom with a walk-in closet and private bathroom.

Stainless-steel kitchen appliances and laundry machines round out the unit. The condo also comes with a locker, two bike racks and a parking spot. Monthly fees of $516 cover concierge and upkeep of a gym, party room and outdoor pool.

The agent’s take

“River City is one of the hottest pockets in all of downtown Toronto, especially in the condo market,” Mr. Bibby said.

“That east hub along the Don River is highly in demand. It has more of a community feel and there are not a lot of investors.”

The five-year-old mid-rise is also renowned for its edgy design. “The layout isn’t typical because the master was on a 45-degree angle along the windows,” Mr. Bibby said.

“The finishes were very modern with white oak hardwood floors, a very modern kitchen and sleek spa-like bathrooms with dark grey slate tiles.”

Need advice from

Christopher Bibby

for your