801 KING ST. W., NO. 1125, TORONTO
ASKING PRICE $249,000
SELLING PRICE $311,000
PREVIOUS SELLING PRICE $100,000 (1993)
TAXES $1,837 (2011)
DAYS ON THE MARKET Six
LISTING AGENTS Nancy, Elden and Daniel Freeman, Freeman Real Estate Ltd.
The Action: Within a large condominium complex along Niagara Street, between King and Wellington streets, this one-bedroom plus solarium suite was listed in the mid-$200,000s to entice as many bargain hunters as possible.
The strategy exceeded the expectations of the seller – and agents alike – with 19 buyers in battle over the suite and a final price tag of $311,000.
What They Got: Over two decades ago, a portion of the 11th floor of a 12-storey highrise was set aside to create a bright, open suite with picture windows along a central living and dining area and two glass walls around a solarium with sliding doors to the interior bedroom.
Cleaning and storage solutions include an updated bathroom and three kitchen and laundry appliances, as well as a locker and parking space.
A monthly fee of $476 pays for 24-hour concierge, party room, gym, tennis court and rooftop deck.
The Agent’s Take: “It's in a great spot, right in the heart of King West,” says agent Daniel Freeman, who praises the growth of activities and amenities in the area in the past decade. “A lot of people wanted to take a stab at this condo [because]even in the high $200,000 or low $300,000, it’s an affordable option.”
Its efficient design also suited buyers. “It was a very intelligent layout with a large bathroom with a separate shower and bath, an open kitchen with a breakfast bar, a lot of windows and there’s good flow,” Mr. Freeman said.
“Even for a couple to live there, you had separation from the bedroom to the living room through the den, so you could be comfortable and not be on top of each other.”