Even cold rain dampening Condo’s brightest feature achieved highest sale per square foot

47 Lower River St., Ph 31, Toronto

Asking price: $899,900 (March, 2021)

Selling price: $895,000 (April, 2021)

Taxes: $3,352 (2020)

Days on the market: six

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

The action

Spring might have been the ideal time to showcase the 580-square-foot terrace of this one-bedroom penthouse condo at River City. But the 20 or so visitors who came by to check it out saw it at its worst showing to dreary weather.

“With a big terrace like this and signs things were picking up, we thought with a closing of 60 days, someone might be motivated to make an offer early in the year to spend time enjoying the outdoor space,” agent Christopher Bibby said.

“Pretty much the entire time it was listed, it was pouring rain and cold, so the weather wasn’t working in our favour,” he said. “But people came with umbrellas and were brave enough to go out on the terrace.”

“We were able to achieve the outcome we wanted, and it was still the highest sale per square foot in the complex.”

What they got

On the top floor of a six-storey building, this east-facing unit has a wide and shallow footprint with walls of windows running the length of the principal room, bedroom and one of two full bathrooms.

The interior décor is modern with hardwood floors, stone kitchen countertops and updated stainless steel appliances.

The unit comes with laundry machines and parking. Monthly fees are $547.

The agent’s take

“Typically you don’t see terraces this size,” Mr. Bibby said, “and it was full width.”

“And given a lot of amenities have been closed and not everyone wants to walk to a park to get outside, this was the perfect compromise.”

“Just below us is an outdoor pool and courtyard garden, so it’s quite nice,” Mr. Bibby said.

“There are biking trails, running trails, parks, Canary Commons park grounds and easy access to the Distillery District and Leslieville.”