Patience pays off for St. Lawrence Market condo sellers

Published Friday, Oct. 31 2014

1 MARKET ST., NO. 2713, TORONTO

ASKING PRICE $609,900

SELLING PRICE $597,000

PREVIOUS SELLING PRICE $479,912 (2013)

TAXES $2,758 (2014)

DAYS ON THE MARKET 35

LISTING AGENT Christopher Bibby, Sutton Group-Associates Realty Inc.

The Action: During the slower summer season, nearly 40 buyers toured this two-bedroom-plus-den suite at the Market Wharf just south of St. Lawrence Market. The sellers were not in a rush to sell, so they patiently negotiated an offer close to the list price.

What They Got: One of Context’s latest high-rise developments features ground-floor retail, private recreational facilities, including a rooftop deck, fitness and party facilities and modern suites, like this 928-square-foot unit with nearly nine-foot ceilings and walls of west-facing windows.

Exuding a contemporary feel are quartz kitchen counters, stainless-steel appliances and hardwood floors in the open den and living area with sliding balcony doors, as well as broadloom carpeting in the bedrooms, one of which has a walk-in closet and one of two full bathrooms.

This unit comes with laundry facilities, two lockers and parking, plus monthly fees of $508 to cover water and heating.

The Agent’s Take: “It’s right behind the St. Lawrence Market … and you’re still in walking distance to the Financial District, but because you’re right at the end of Market Street … it does have a tranquil feel,” agent Christopher Bibby says.

“[Plus] the amenities are among the best I’ve seen in the downtown core. The gym is absolutely incredible.”

The sellers also preferred the size of this unit versus another they owned by the same developer.

“The two-bedroom-plus-den layout in most buildings would be in a larger floor plan, but there wasn’t much wasted space in this unit, so the fact they were able to fit everything in a really workable floor plan was the most appealing feature of the space,” Mr. Bibby says.

“You had that unobstructed view to the Financial District, CN Tower and the lake, so you didn’t have the prospect of any buildings being put directly in front of you.”