Flexibility on price helps in sale of large downtown luxury suite

Written by Sydnia Yu | Published in The Globe And Mail
In the Press
May 8, 2024

33 Lombard St., No. 4103, Toronto

Asking price: $1,695,000 (February, 2024)

Selling price: $1,646,000 (March, 2024)

Previous selling price: $975,000 (March, 2016); $552,969 (August, 2007)

Taxes: $6,256 (2023)

Days on the market: 25

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

The action

The 1,400-square-foot suite was more than twice the size of the only other unit listed for sale in February in the building.

The unit was recently redesigned.

This 1,400-square-foot suite was more than twice the size of the only other unit listed for sale this February in the Spire building kitty-corner to St. James Cathedral, one block north of St. Lawrence Market. The sellers were prepared to wait months to find a buyer who could afford to pay its nearly $1.7-million asking price, but were content to sell for slightly less to a repeat visitor.

“Spire is known for having low turnover and a lot of the larger units rarely ever trade, so there’s always fairly high demand,” said agent Christopher Bibby.

“This did sell a little quicker for that price point, but we didn’t go into this thinking it would take a week or two.”

What they got

This two-bedroom, corner unit was recently redesigned, with the two four-piece bathrooms remodelled and a wall removed between the den and living room. There are three walkouts to a balcony with gas and water hookups.

The unit includes a storage locker and two parking spots. Monthly fees of $1,522 cover water, concierge, and use of the on-site gym and rooftop deck.

The agent’s take

“The higher up in the building you go, there are less and less suites per floor … so in this case there are only three units per floor, which makes it more intimate,” Mr. Bibby said.

“And that east view was absolutely stunning because it’s overlooking the lake and St. James Park.”

Its bold style, like its blue kitchen cabinetry, was also unforgettable. “The colour of the kitchen was unique, like a builder would never take that risk,” Mr. Bibby said.

“And the entrance to the bedroom was moved over, so they could make a bar area next to the kitchen, and put in sliding barn doors.”

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