Price adjustment finds buyer for waterfront condo

May. 20 2013, 4:33

600 FLEET ST., NO. 2807, TORONTO

ASKING PRICE $509,900

SELLING PRICE $499,000

PREVIOUS SELLING PRICE $332,025 (2009)

TAXES $3,208 (2012)

DAYS ON THE MARKET 18

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

The Action: On a penthouse level of a high-rise near the waterfront, Fort York and CNE grounds, this one-bedroom plus den suite logged about 50 showings. Given the high concentration of available units nearby, it can take four to six weeks to secure an offer, but this one finalized a deal in less than three weeks, explains agent Christopher Bibby.

What They Got: About four years ago, the original owners of this 900-square-foot suite had the builder reconfigure the second bedroom as an open den with a Murphy bed and install upscale appointments throughout, from granite kitchen counters to hardwood floors.

To enjoy the outdoor scenery and sunlight, there are floor-to-ceiling windows throughout and a 625-square-foot terrace accessed from the combined living and dining area.

Completing the package are two full bathrooms, including a master en suite, laundry facilities and two parking spots. Monthly fees of $622 cover the cost of heat, water and recreational amenities.

The Agent’s Take: “I’ve never seen anything like this because typically terraces are on lower floors or a podium portion of a building. So to have a terrace this high was very unique,” Mr. Bibby said. “Typically when you’re on the 28th floor, you’re getting a balcony… so it was like having a backyard in the sky.”

“[The sellers] had redone the entire floor plan through the developer as they were building the building, so it was a custom layout,” adds Mr. Bibby. “We also had every exposure: south overlooking the lake and Toronto Islands, and west, north and east facing into the city.”