Large midtown condo sells in three days to full price offer

980 Yonge St., No. 713, Toronto

Asking price: $1,129,900 (February, 2022)

Selling price: $1,129,900 (February, 2022)

Previous selling prices: $840,000 (October, 2017); $528,000 (July, 2008); $306,000 (May, 1998); $201,856 (January, 1998)

Taxes: $4,393 (2021)

Days on the market: Three

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

The action

This two-bedroom corner suite was the largest model to come up for sale since last fall in a mid-rise building near Rosedale station and Ramsden Park, so it was booked for seven showings right after coming to market in February. One offer matched the $1,129,900 asking price and the deal was done.

“A one-bedroom unit sold just before us, but in terms of larger units, nothing had come on for quite some time,” said agent Christopher Bibby.

“[The buyer] agreed to pay the price we were looking for without negotiating, and it wouldn’t be sensible for us to say we wanted more [money] when there was only one bidder.”

What they got

This more than 20-year-old unit has a 1,275-square-foot plan with open concept living, dining and kitchen areas at its centre and a balcony in the corner overlooking Yonge Street and the Rosedale Valley.

There are two bathrooms and new laundry machines, plus a storage locker and parking spot. Monthly fees are $1,395 and cover water, concierge, and use of a common gym and rooftop deck.

The agent’s take

“There are a lot of downsizers and empty nesters looking for larger spaces within walking distance to Summerhill, Rosedale, The Annex and Yorkville,” Mr. Bibby said. “[Downsizers] want to be close to transit, shops and restaurants.

“It’s the second largest unit in the building,” Mr. Bibby said. “There are a lot of oversized rooms. Even the primary bedroom has a larger four-piece ensuite and a walk-in closet, so it makes the transition into a condo a lot more comfortable than the standard new condominiums.”