Listed last summer, price of condo near King and Bathurst slides until buyer found.

The action

This two-bedroom suite at the Thompson Residences, near King Street West and Bathurst Street, was initially listed for sale last summer with an asking price of $1.345-million. The price was trimmed back to $1.335-million, then $1.32-million where it stood through the fall and winter seasons. Buyers put out a few feelers, but lowball offers were discouraged.

“While there was no immediate competition in the building, the general area had a high saturation of condominiums throughout the duration of our listing,” said agent Christopher Bibby.

“We had some opportunistic people pose verbal numbers, but my client had a little flexibility, but not much, and that paid off.”

In the new year, a buyer shook on a mutually beneficial price of $1.27-million.

“We took a patient approach because of how special the unit in the building was,” Mr. Bibby said.

“The larger units, like ours with 1,189 square feet, on the south side are more sought after.”

What they got

This 14-year-old unit has 10-foot ceilings and new hardwood flooring throughout, including the kitchen and dining area.

A balcony is accessible through the living room and a primary bedroom that has a walk-in closet and one of the unit’s two full bathrooms.

A storage locker and parking complete the package. Monthly fees of $1,188 cover heating, water and use of the hotel amenities on site.

The agent’s take

“The building was initially branded as part of the Thompson Hotel, and the hotel underwent a rebranding into the 1 Hotel,” Mr. Bibby said. “They changed the amenity spaces and the gym underwent an overhaul.

“There’s a rooftop pool in the hotel with panoramic views of the CN Tower, and there’s a bar and lounge up there.”