Unique upgrade helps lock in deal for King Street condo
Friday, Apr. 17 2015
560 KING ST., W., NO. 514, TORONTO
ASKING PRICE $585,000
SELLING PRICE $570,000
PREVIOUS SELLING PRICE $405,885 (June, 2014)
TAXES Not available
DAYS ON THE MARKET 10
LISTING AGENT Christopher Bibby, Sutton Group-Associates Realty Inc.
The Action: The Fashion House condo was only completed last year, but several of its first residents have already put their properties back on the market, including this one-bedroom plus den corner suite. Its distinct specifications meant there were just 18 showings before a deal was made.
What They Got: Freed Developments designed a 12-storey, mixed-use project with modern suites and stylish amenities, including a rooftop deck with an infinity pool, as well as commercial space within a refurbished heritage structure that this more than 700-square-foot unit overlooks from the fifth floor.
At the owner’s request, the builder opened up an enclosed den off the living and dining area and enlarged the kitchen to accommodate an island, stainless steel appliances, hardwood floors and sliding doors to a 450-square-foot terrace, which can also be reached via a master with a semi-ensuite bathroom.
Laundry machines, a locker and parking come with the unit, along with monthly fees of $545 to access concierge and recreational facilities.
The Agent’s Take: “What drew a lot of traffic to it is that it’s one of two units facing south with a very large terrace overlooking King Street,” agent Christopher Bibby says. “The buyers had a good relationship with the builder, so they were able to redo the floor plan, so it’s one-of-a-kind floor plan in the building.”
Another unique aspect of this unit is its sight lines of the historic building below, housing the Keg. “If you look west out of the unit, you can see the roof of this old building,” Mr. Bibby says. “You can see some of that restored brick and original features rather than, say, something brand new.”