Two-storey condo in St Lawrence Market draws buyer

3 Market St., No. 637, Toronto

Asking price: $1,325,000 (August, 2022)

Selling price: $1,295,000 (August, 2022)

Previous selling prices: $725,000 (July, 2015); $533,238 (December, 2011)

Taxes: $4,600 (2022)

Days on the market: Eight

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

The action

This two-storey unit is larger than the average condominium around St. Lawrence Market on the edge of Toronto’s financial district, which pushed it into a higher price bracket. Seven potential buyers toured the suite but another three who had booked showings were turned away after the seller quickly accepted an under-asking offer.

“We weren’t expecting 20 to 30 showings, but the right people were coming by to take a look,” said agent Christopher Bibby.

“We priced it in a way we had a negotiation buffer built in, and given all the dynamics of the market … with rate hikes and all the things going on in the world, now is not time to overthink the process and get greedy.”

What they got

In the high-rise Market Wharf building, two-storey units are grouped around the perimeter of the podium. The design allows this 1,012-square-foot unit to have windows facing east and west, and a private east-facing yard with water and gas outlets.

Inside, ceilings rise 10 feet above an open principal room with hardwood flooring, and a U-shaped kitchen equipped with stone countertops, tile flooring and stainless steel appliances.

The upper level has two bedrooms, laundry facilities and two of the suite’s three bathrooms.

The unit includes a storage locker and parking. Monthly fees of $813 cover water costs, concierge and on-site gym.

The agent’s take

“On that level, every unit gets a terrace and a real tree and vegetation, it almost feels like a park setting,” Mr. Bibby said. “But you’re right behind the St. Lawrence Market, so it’s pretty unique

“All the units in that area feel almost like townhomes because they’re all two-level units.”