Two-bedroom luxury unit in Summerhill gets two offers

  FRIDAY, JANUARY 31, 2020

20 Scrivener Square, No. 320, Toronto

Asking price: $1,098,000

Selling price: $1,050,000

Previous selling price: $312,021 (2002)

Taxes: $3,683 (2019)

Days on the market: Seven

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

The action

Buyers often wait a long time for vacancies to emerge at Thornwood One, a luxury building at the centre of the upscale Summerhill shopping district along Yonge Street. So the agent ambitiously priced this custom, two-bedroom unit just shy of $1.1-million. Two offers were made in late October with the winning bid coming in $48,000 below asking.

“It’s a small two-bedroom unit for the building, but given the price point in the building, this was quite attainable for some people who want to be in the area,” agent Christopher Bibby said.

“There were units that traded in the last year in the $4-million range.”

What they got

In recent years, the seller of this 18-year-old unit customized it with built-in storage and fixtures in the kitchen and bedrooms. The original master suite was also reduced in size to expand the open living and dining area, which has south-facing windows and a balcony.

There’s a four-piece bathroom and ensuite laundry. The unit also comes with a storage locker and parking.

Monthly fees of $639 pay for water and heating, as well as concierge, valet and use of the gym and rooftop deck.

The agent’s take

“There is a building to the south, but there is a fully landscaped courtyard and this unit was perfectly in line with the trees, so you had a lot of privacy,” Mr. Bibby said.

“The thing that was quite special about this unit is it has a very wide balcony that took up the width of the unit, which is quite uncommon in that building. We had marketed another unit in there earlier in the year [2019] and the balcony was about 30 [per cent] to 40 per cent of its size.”