Liberty Village penthouse with a prudent price tag sells amid stiff competition

The action

The sale of this one-bedroom penthouse at Liberty Lakeview Towers largely hinged on the owner’s flexibility on its price. They started with an opening number under $620,000 and ended up with final cheque for $600,000 from a first-time buyer.

“There are about 15 condo buildings in Liberty Village now, all within a couple of blocks of each other, so we were competing with quite a bit,” said agent Christopher Bibby.

“These units were trading at a much higher price per square foot a year ago, so we were priced in line with market conditions.

“I never go out thinking we’ll get 100 per cent of the sale price. Everyone wants to negotiate or feel there’s some flexibility.”

What they got

This 12-year-old unit has 592 square feet of living space, laid out with a bedroom along the windows and an adjacent principal room with sliding doors to a balcony.

There is a four-piece bathroom, a laundry closet and a U-shaped kitchen.

A storage locker and parking spot complete the unit. Heating and water bills are paid through monthly fees of $532.

The agent’s take

“In today’s climate, they would never put a one-bedroom unit on a penthouse floor – it would be reserved for larger units in the building,” Mr. Bibby said.

“The unit faces west, but if you tilt your head to the left, southwest, you do have some lake views.”

Beyond the suite, residents can lounge at a common pool and bowling alley, or head to local bars and breweries.

“The neighbourhood has always been sought after, especially for first-time buyers, given the proximity to a 24-hour grocery store, restaurants, retail, and gyms,” Mr. Bibby said.

“It’s also within striking distance of the Martin Goodman Trail and the lake.”