Compact 2-bedroom penthouse in Toronto sells for $549,900 in 24 hours

Written by Sydnia Yu | Published in Globe and Mail
In the Press
January 31, 2022


36 Lisgar St., Ph 5, Toronto

Asking price: $549,900 (November, 2021)

Selling price: $549,900 (November, 2021)

Previous selling price: $250,380 (May, 2015)

Taxes: $2,036 (2021)

Days on the market: One

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

The action

The unit in this two-tower complex comes with six appliances.

This compact penthouse manages to squeeze two bedrooms and two bathrooms into 540 square feet, a feat that helped secure a full-price offer within 24 hours of it coming to market.

“Even though you’d never want to list towards the tail end of the year, it ended up being a really good time because there was little to no supply, so we had no competition,” agent Christopher Bibby said.

“I had a seasoned seller who was pleased with the outcome and was ready to make a decision quickly rather than see how much more [money] we could push it for.”

What they got

The unit has a Juliet balcony off the open kitchen and entertaining area.

Like many units in this two-tower complex that was built less than 10 years ago, this apartment has a modern design with nine-foot ceilings, full-height windows and a Juliet balcony off the open kitchen and entertaining area.

The unit comes with six appliances, a storage locker and parking. Monthly fees of $514 cover the cost of heating, water, and concierge.

The agent’s take

The apartment has a modern design with nine-foot ceilings and full-height windows.

“When people saw the square footage, the assumption was that it was impossible to put two bedrooms and two bathrooms into a 540-square-foot suite, along with a living and dining area, kitchen and laundry area,” Mr. Bibby said.

“The floor plan is very efficient,” he said. “There’s no wasted space.”

The building offers fitness and recreational amenities and all the attractions of Queen Street West are nearby, such as galleries and the Drake Hotel. “Queen Street West has attracted a lot of people because there’s more culture, nightlife and restaurants – even though we’re not experiencing much of that right now,” Mr. Bibby said.

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