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Price cut, but Forest Hill condo still sells for top dollar Add to ...

44 LOWER VILLAGE GATE, TORONTO

ASKING PRICE $1,750,000

SELLING PRICE $1,650,000

TAXES $8,306 (2012)

DAYS ON THE MARKET 42

LISTING AGENT Andrea Stark, Royal LePage Real Estate Services Ltd., Johnston and Daniel Division

The Action: The sellers of this two-storey townhouse listed privately for nearly $2.3-million, but later employed agent Andrea Stark to market the condominium in an area where locals prefer to downsize to single-level living. When market activity was slow, there were a couple of price reductions between $1.89– to $1.75-million, but a deal was ultimately negotiated for $1.65-million, which is the highest price paid for a property in the gated complex.

What They Got: In 1988, Lower Village Gate was completed with two low-rises and a couple townhouses, such as this three-bedroom unit with private outdoor space, direct access to a ravine and two-car parking in an underground garage.

In the last decade, this roughly 3,240-square-foot space was outfitted with new windows, roof and mechanics and modernized eat-in kitchen and four bathrooms, including a six-piece ensuite in a master bedroom with a Juliet balcony and his and her closets.

New pine plank floors appear throughout, including the central dining area, and gas fireplaces installed in a sunken living room and lower level family room with a back deck.

Monthly fee of $914 covers water, cable, concierge, gated security and recreation amenities.

The Agent’s Take: “It’s a gorgeous property in a special complex really hidden in Forest Hill on a cul-de-sac,” says Ms. Stark.

“It has an outdoor pool, modern fitness facilities and huge party room, so it’s pretty great and very low maintenance, and you can walk to the shops at Forest Hill, restaurants, subway and big Loblaws, and it backs onto a ravine with trails that go to Cedarvale Park, Nordheimer Ravine and Sir Winston Churchill Park.” This unit was also rare given its size and ravine setting. “There are not really any [townhouses] in that location, especially that size, too,” Ms. Stark notes. “It’s like a house, but it’s a condo and it’s mid-town, yet you feel like you’re in the countryside, it’s like looking into a forest.”

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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