Record Breaking Sale For Queen West Penthouse
Jan. 22 2015
Stylishly staged, but Queen West penthouse sells $19,000 under list
8 GLADSTONE AVE., NO. 703, TORONTO
ASKING PRICE $799,000
SELLING PRICE $780,000
PREVIOUS SELLING PRICE $653,894 (2013)
TAXES Not available
DAYS ON THE MARKET 14
LISTING AGENT Christopher Bibby, Sutton Group-Associates Realty Inc.
The Action: In a new boutique mid-rise across from the Gladstone Hotel, this two-bedroom corner penthouse was professionally staged to woo style-savvy buyers. Nearly half of the dozen visitors contemplated whether to make an offer, but one formally registered a bid signed off at $780,000.
What They Got: At the top of the second addition to a three-building development with street-level retailers and pedestrian-friendly walkways, this 1,120-square-foot suite was designed with two levels of living space and an 800-square-foot terrace with south and eastern exposures.
A wall of windows and sliding patio doors brighten the living and dining areas, which had a space the builder left empty for the original owners to install custom cabinetry and built-in appliances, including a gas stove.
The second floor is divided for laundry facilities and two bedrooms, including one containing the largest of three bathrooms.
Conveniences on lower levels include a locker and parking, as well as a party room that is covered by monthly fees of $618. Hydro is extra.
The Agent’s Take: “Nothing in either of the buildings – 2 and 8 Gladstone – had gone for sale in this size,” says agent Christopher Bibby. “It was a two-level unit with two bedrooms and three bathrooms, so it really felt like a home.”
Even the outdoor space was substantial in size and scope. “It has an 800-square-foot terrace, which is larger than most backyards in the city, and you had an unobstructed view into the downtown core,” Mr. Bibby said.
“That whole pocket is low-rise retail and mid-rise boutique buildings, so you don’t have any high-rises in the neighbourhood.”
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