Unobstructed lakeside views help in sale of downtown condo

Written by Sydnia Yu | Published in The Globe And Mail

In the Press

March 17, 2023

65 Harbour Square, No. 2304, Toronto

Asking price: $1,685,000 (November, 2022)

Selling price: $1,585,000 (January, 2023)

Previous selling prices: $1,019,000 (February, 2020); $795,000 (October, 2009); $535,000 (October, 2003); $375,000 (July, 1996)

Taxes: $6,024 (2022)

Days on the market: 49

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

The action

This 1,650-square-foot unit in a 1980s-era tower has walls of southwest-facing windows in each room, from the private den to the open living and dining areas.RE/MAX HALLMARK REALTY LTD.

This renovated, two-bedroom plus den suite was the only property for sale just before Christmas in the popular Harbourside complex on Toronto’s waterfront, but it failed to sell. Requests to tour the home picked up in the new year, and one previous visitor negotiated a deal for $100,000 below the asking price.

“The owners had redone everything for themselves, so it really made it appealing,” agent Christopher Bibby said. “And we had, for the most part, an unobstructed view of the lake and Toronto Islands, so that’s a big draw for prospective buyers.

“In the beginning of January, things really started to pick up because inventory bottomed out after the Bank of Canada indicated rate hikes might be on hold.”

What they got

The kitchen was refashioned with quartz countertops and an island with a waterfall edge design.RE/MAX HALLMARK REALTY LTD.

This 1,650-square-foot unit in a 1980s-era tower has walls of southwest-facing windows in each room, from the private den to the open living and dining areas. A Juliet balcony opens off the dining room.

Recent updates include oak hardwood flooring and high-end appliances, including new laundry machines in an enclosed room.

Two four-piece bathrooms have been remodeled, and the kitchen was refashioned with quartz countertops and an island with a waterfall edge design.

A storage locker and parking complete the package. Monthly fees of $1,333 cover cable, utilities, concierge, shuttle bus service and use of a car wash bay, indoor pool and rooftop deck.

The agent’s take

Recent updates include oak hardwood flooring and high-end appliances.RE/MAX HALLMARK REALTY LTD.

“What makes Harbourside so attractive is the fact it’s on the south side of Queens Quay, which is quite uncommon because the majority of development are on the north side,” Mr. Bibby said.

“There’s even a lounge/bar area you can go down to for a drink, which is uncommon versus what you see today in new buildings where the amenities are not full service.”