Quick sale for Yorkville condo with a view

Written by Sydnia Yu | Published in The Globe and Mail
80 Cumberland
In the Press
April 9, 2019


80 Cumberland St., unit 510, Toronto

Asking price: $1.35-million

Selling price: $1.32-million

Previous selling prices: $790,000 (2009); $605,000 (June, 2007); $525,000 (Jan 2007); $490,000 (2005); $421,457 (2002)

Taxes: $4,941 (2018)

Days on the market: Six

Listing agent: Christopher Bibby, Re/Max Hallmark Bibby Group Realty

The action

Ownership opportunities are fairly rare in the Maxus building – only three units were sold last year – so the sellers of this three-bedroom corner suite were confident enough to decline a verbal offer in late February. The next day, two bids came in on paper.

“It was the first time in over a decade that a suite in the south-east corner has come up for sale,” agent Christopher Bibby said.

“We had 67 people come through over six days. The concierge even told us they’ve never seen so many people come through.”

What they got

As with every other unit in the building, this 1,335-square-foot suite has a two-storey plan and luxury finishes.

At its centre is a principal room with 17-foot ceilings, full height windows and access to one of two balconies. In recent years, the sellers installed custom bookcases built around the fireplace, a ladder and glass panelling lining the staircase.

There are three updated bathrooms and all the kitchen and laundry appliances were likewise fairly new. The unit comes with a storage locker and parking.

Monthly fees of $1,305 pay for water and heating, as well as concierge and a gym.

The agent’s take

“There are 73 units in the building … so it’s a really intimate building,” Mr. Bibby said.

“Pretty much every view in the building is becoming obstructed … but that southeast corner is the only open real estate, so there’s little turnover on that side of the building.”

This unit also provides many features of a freehold home. “The thing that’s so special about this space is it’s a three-bedroom and three-bathroom plan, so it worked well for so many people, like families and couples,” Mr. Bibby said.

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