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Couple looking to rent opt to buy instead in Kensington Market Add to ...

578 SPADINA AVE., NO. 2, TORONTO

ASKING PRICE $899,800

SELLING PRICE $865,000

PREVIOUS SELLING PRICE $775,000 (2011); $646,867 (2008)

TAXES $5,480 (2013)

DAYS ON THE MARKET 26

LISTING AND CO-OP AGENT Ira Jelinek, Harvey Kalles Real Estate Ltd.

The Action: Within a five-minute radius of popular amenities, such as specialty shops and grocers in Kensington Market, this urban townhouse reined in more than two-dozen visitors. One set negotiated a price for its ownership after shopping for rental properties nearby.

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What They Got: An over-century-old structure previously operating as a halfway home and synagogue, was recently converted to a handful of condominiums, such as this 1.5-storey unit with street-level entry, semi-private elevator access and a private rooftop terrace with a hot tub.

The foyer has stairs to an open principal room appointed hardwood floors, crown mouldings nine feet above, Juliet balconies off the dining area and a granite-topped kitchen island with seating and stainless steel appliances.

Hidden away are two bedrooms, including one with a walk-in closet and one of two full bathrooms, and rear staircase to the upper deck.

The unit has laneway parking and common element fees of $216 for gardening and snow removal.

The Agent’s Take: “The location was really excellent,” says agent Ira Jelinek. “[Plus] it was really nice inside compared to rentals in the Annex.”

The unique layout also played a large factor in the sale. “It’s a little different because it’s a townhouse, but when you walk in there is a set of stairs and an elevator,” Mr. Jelinek states.

“And it seems like you’re in a condo because it’s [nearly] all on one floor – around 1,500 to 1,600 square feet.”

Editor's Note: Done Deals contain information gathered from real estate agents, home buyers, home sellers and sale prices that are publicly available from government sources. While we try to publish Done Deals as soon as possible after the transaction has occurred, long closings can cause delays.

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