New Regent Park condo goes over-asking
Published Friday, May. 11, 2012
1 COLE ST., NO. 503, TORONTO
ASKING PRICE $379,900
SELLING PRICE $385,600
TAXES $2,317 (2011)
DAYS ON THE MARKET 12
LISTING AGENT Christopher Bibby, Sutton Group-Associates Realty Inc.
The Action: Offers could be accepted at any time for this two-bedroom corner unit at One Cole, yet two buyers made a bid shortly after the second weekend of market exposure.
What They Got: In one of the first condominium residences within the Regent Park revitalization project, this roughly 800-square-foot space was outfitted with modern hardwood floors, granite kitchen counters and stainless steel appliances upon completion last year.
Sunlight reaches the combined living and dining room through sliding balcony doors and floor-to-ceiling windows, which also illuminate the bedrooms, including a master suite with access to one of two full bathrooms.
Other conveniences include laundry machines, a storage locker and parking.
A monthly fee of $454 covers water and heating costs, as well as 24-hour concierge, fitness and party facilities and a 20,000-square-foot rooftop terrace with barbecue areas.
A 24-hour supermarket, bank and cafe are established at the base of the building, which is steps from new community, arts and aquatics centers.
The Agent’s Take: “For under $400,000 downtown, there is literally a handful of buildings where you’re going to get two bedrooms and two bathrooms, and this is one of them,” agent Christopher Bibby said. “For the price, the finishes were quite nice – some even better than some of the newer buildings right downtown.”
Buyers were also pleased by the amenities in and around the complex.
“It may not be the first location of choice for most buyers, but Regent Park is undergoing a dramatic redevelopment,” Mr. Bibby said. “This building is the start of what is yet to come in that neighbourhood, so investors and buyers see potential down the road.”
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