Seller tweaks price of bungalow-like suite in Yorkville as spring rebound takes root

3 McAlpine St., No. 104, Toronto

Asking price: $2,125,000 (April, 2024)

Previous asking prices: $2,298,000 (January, 2024); $2,298,000 (November, 2023)

Selling price: $2.05-million (May, 2024)

Previous selling price: $494,393 (December, 2002)

Taxes: $8,202 (2023)

Days on the market: 22

Property days on market: 179

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

The action

Last year, this three-bedroom unit made its debut when there were few alternatives of similar size and style in Yorkville. About a dozen buyers leisurely roamed through over a span of five months, so its price was cut from $2.298-million to $2.125-million in April. Nine more visitors dropped by, and one negotiated a deal for $2.05-million three weeks later.

“We didn’t see any movement in the market, so none of the buyers felt like they were going to lose out on an opportunity,” said agent Christopher Bibby.

“In March, April and the beginning of May, we saw things pick up and houses started to sell again at strong prices, and a lot of empty-nesters and downsizers … had to find places to move to, so we were the busiest during that period.”

What they got

Prior to construction, a family combined three plans to create two spaces, including a one-bedroom unit and this three-bedroom suite with an office, two entertaining areas and two Juliet balconies.

Practical comforts are evident in the three full bathrooms, a laundry room and an eat-in kitchen with marble flooring, custom banquette and stainless steel appliances.

The unit comes with a locker and two parking spots. Monthly fees of $2,982 pay for water, heating and concierge.

The agent’s take

“Even though it was just over 2,100 square feet, it felt a lot larger because there was no wasted space,” Mr. Bibby said.

“The owner worked with a designer and had very unique, custom finishes throughout that you typically wouldn’t see in a condominium – like all the millwork and drapes – and [they] redid the HVAC system.”

This unit also faces a garden with a fountain and bench. “It was fairly unique, about half an acre, private and gated on both sides, so you needed card access to get into it,” said Mr. Bibby.