Shortage of large condos helps in sale of three-bedroom unit in Yorkville.

The action

There are many large-scale condominiums in the luxury buildings around Avenue and Davenport roads, but this 1,916-square-foot suite near Ramsden Park was one of the very few up for grabs early this year. It had a dozen visitors come through its door, but only one offer. After negotiations, the buyer brought their offer up to $2.85-million, $145,000 below the asking price, to finalize the deal.

“We talk about how much supply there is in the condo market, but for this type of product, there wasn’t much out there,” said agent Christopher Bibby. “It was time to take advantage of it.

“A lot of people were starting to list their homes for sale, and this was perfect for a downsizer or empty-nester because it has three bedrooms and a den.”

This seven-year-old unit features full-height windows in most rooms and two south-facing balconies. One of the balconies is exclusive to the primary bedroom and the other has entrances from another bedroom and both the living and dining rooms.

There is herringbone hardwood flooring throughout and new vanities in all three bathrooms, as well as an enlarged kitchen island, Gaggenau appliances and a pantry.

A storage locker and parking round out the package. Monthly fees are $2,653.

The agent’s take

“It’s a smaller, more boutique building,” said Mr. Bibby. “Every time I’ve been in the building, I never rode in the elevator with anyone.

“All of the finishes in there are very high grade.”

There is a gym on site. The area has many upscale shops, bistros, galleries and museums.

“It’s close to Yorkville, walking distance to The Annex, Bloor and Hazelton Lanes,” Mr. Bibby said.