Royal LePage Real Estate Services Ltd.
2727 Yonge St., No. 608, Toronto
Asking price: $1,495,0000 (March, 2021)
Previous asking price: $1,545,000 (February, 2021)
Selling price: $1,325,000 (March, 2021)
Previous selling price: $645,000 (May, 2005); $461,531 (July, 1998)
Taxes: $5,572 (2020)
Days on the market: 15
Listing and buyer’s agents: Dino Capocci and Lauretta Stewart, Royal LePage Real Estate Services Ltd.
The action
The two-bedroom suite is one of the largest residences in the mid-rise building on Yonge Street.Royal LePage Real Estate Services Ltd.
This unit in a six-storey building is unusually large, with roughly 2,000 square feet of living space and all of it on one level. But buyers were unwilling to fork over $1.545-million for an unrenovated 20-year-old space. The asking price was slashed by $50,000 and drew out two offers, both below that new price; one by $195,000 less and the other by $170,000.
“In the middle of COVID, the market has changed a lot. One unit there was sold for $1.6-million early in February, 2020, and then nothing else since,” said agent Dino Capocci.
“We tried around $1.5-million hoping to create some activity, but the market wasn’t there.”
“When we had the two offers – one was $1.3-million and one was $1.325-million – the seller said obviously the market was speaking and they’ll take the highest price and move on.”
What they got
The unit has a formal dining area and an eat-in kitchen.Royal LePage Real Estate Services Ltd.
This two-bedroom suite is one of the largest residences in the mid-rise building on Yonge Street, between Lawrence and Eglinton avenues.
It has a formal dining area and an eat-in kitchen, as well as a living room with a gas fireplace, built-in wine fridge and access to a terrace.
There are two full bathrooms and a laundry room.
Monthly fees of $1,640 include the cost of water and concierge and the use of a gym, indoor pool and rooftop deck.
The agent’s take
The unit has roughly 2,000 square feet of living space.Royal LePage Real Estate Services Ltd.
“We had a lot of empty nesters with … a big house in Lytton Park or Lawrence Park, and [who] want to stay in the area and go to a condo. But they don’t want a small, 1,000 square foot condo,” Mr. Capocci said.
“A big plus is you have two tandem parking spots right in front of a huge locker, and you’re right on Yonge Street, close to everything.”
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