Distillery District penthouse tops $1-million ceiling
PUBLISHED THURSDAY, SEPTEMBER 17, 2021
70 Mill St. Ph. 9, Toronto
Asking price: $1,065,000 (May, 2021)
Selling price: $1,041,500 (June, 2021)
Taxes: $3,004 (2021)
Days on the market: 16
Listing agent: Christopher Bibby, Re/Max Hallmark Bibby Group Realty
The action
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In recent years, the more than 20-year-old space was outfitted with a new staircase and renovations to the kitchen and pair of four-piece bathrooms.
This two-storey penthouse was the first south-facing vacancy in two years in the two mid-rise buildings across from the popular Distillery District. About three dozen potential buyers toured the property. Several purchase offers were rejected before the sellers ultimately accepted a bid just shy of the asking price.
“In both buildings we hadn’t seen sales over $1-million, so we were trying to break that boundary,” agent Christopher Bibby said.
“We had people interested in making offers much lower than what we were asking, so early on we deterred them and said we were patient and didn’t need to sell.”
What they got
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This two-storey penthouse was the first south-facing vacancy in two years in the two mid-rise buildings across from the popular Distillery District.
In recent years, the more than 20-year-old space was outfitted with a new staircase and renovations to the kitchen and pair of four-piece bathrooms.
The unit comes with a storage locker and underground parking. Monthly fees of $927 cover utilities.
The agent’s take
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This two-bedroom suite offers a two-level layout with a wide terrace off the living room.
“On the south side, you’re overlooking the Distillery District, which is historic, and there’s no pending or planned future development,” Mr. Bibby said.
“So, you had the protection, security and peace of mind your view will stay there.”
The unit’s physical attributes were also remarkable. “It was fully renovated with a newer kitchen, and [my client] was an avid gardener, so it had a beautiful terrace,” Mr. Bibby said.
“They do have wood burning fireplace as well, which is something you see more in earlier eras.”
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