Strong demand for large Lawrence Park condo drives up selling price

Written by Sydnia Yu | Published in The Globe And Mail
In the Press
July 22, 2022

2900 Yonge St., No. 408, Toronto

Asking price: $2,050,000 (May, 2022)

Selling price: $2,210,000 (May, 2022)

Taxes: $6,678 (2021)

Days on the market: One

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

The action

The 1,840-square-foot unit has central living, dining and study areasJORDAN PRUSSKY PHOTOGRAPHY

Agent Christopher Bibby said he was tight-lipped about the upcoming sale of this two-bedroom-plus-den suite in a 30-year-old building across from the Alexander Muir Memorial Gardens, but the news got out.

“As we were preparing the listing, word travelled we were coming onto the market, and a few agents tried to get in in advance,” Mr. Bibby said.

“In these established, classic buildings … everybody knows everything.”

This unit, in the building’s southwest corner surrounded by tall trees helped in attracting two offers within its first day on the market. “One of these layouts had not traded since 2018, so it’s in a highly coveted part of the building,” Mr. Bibby said.

“There were some units on the east side of the building that weren’t trading leading up to us listing, so that certainly was a concern, but this was a completely different product.”

What they got

The unit has a custom, eat-in kitchen.JORDAN PRUSSKY PHOTOGRAPHY

This 1,840-square-foot unit has a custom, eat-in kitchen, and central living, dining and study areas.

Off to the sides are two bedrooms with updated, four-piece bathrooms. There is also a small powder room.

The unit comes with a storage locker and two-car parking. Monthly fees of $1,600 pay for utilities, concierge, and use of a common pool and rooftop deck.

The agent’s take

“There are lots of larger homes in the community, so for people who want to stay there and live in a condo, this was basically the only real, viable option,” Mr. Bibby said.

“And they’re all generally very large units. Typically, a smaller unit in that building is about 1,600 square feet.”

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