Luxury condo on a Toronto park takes a price cut to sell
Published Friday, Nov. 01 2013, 11:03 AM EDT
Last updated Friday, Nov. 01 2013, 11:43 AM EDT
20 NIAGARA ST., NO. 401, TORONTO
ASKING PRICE $999,000
SELLING PRICE $930,000
PREVIOUS SELLING PRICE $840,000 (2009); $650,000 (2005); $625,000 (2004); $257,369 (1999)
TAXES $5,468 (2012)
DAYS ON THE MARKET 19
LISTING AGENT Christopher Bibby, Sutton Group-Associates Realty Inc.
The Action: This two-bedroom corner suite at Twenty Niagara was listed for months, but relisted with another agent – Christopher Bibby – who lowered the price and staged the vacant space to improve its first impression on buyers. Though it sold for a reduced price, a deal was finalized within weeks.
What They Got: Siding onto Victoria Memorial Park is a low-rise residence built more than a decade ago with about two dozen units, such as this roughly 1,500-square-foot suite with elevator access shared with just one of three units on the same floor.
An upscale, loft vibe is exuded with exposed concrete finishes and floor-to-ceiling windows facing south and east as seen in an open principal room with new hardwood floors, gas fireplace, Miele and Sub-Zero kitchen appliances.
Modern conveniences include a balcony with a gas outlet, a master suite with a walk-in closet and one of two full bathrooms, as well as ensuite laundry machines, plus parking.
Monthly fees of $866 cover water and heating costs.
The Agent’s Take: “There are not many units in the building, so that’s what made it really unique,” says Mr. Bibby, who notes other buildings nearby have hundreds of suites. “A lot of units have direct elevator access or you share the elevator with only one other resident.”
Buyers were also enamoured with what they saw in and around the suite. “Overlooking the park, it had a very tranquil feel to it,” Mr. Bibby adds.
“My clients also did a full renovation on the space, so there was a brand new kitchen, built-ins throughout, a built-in fireplace, brand new washrooms and even the floors, too.”
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