Royal LePage Real Estate Services Ltd.
380 Macpherson Ave., Ph 613, Toronto
Asking price: $1,449,000 (June, 2023)
Previous asking prices: $1.495-million (Late May, 2023); $1.65-million (Early May, 2023)
Selling price: $1.4-million (July, 2023)
Previous selling prices: $810,000 (June, 2013); $623,009 (June, 2011)
Taxes: $5,251 (2023)
Property days on market: 80
Listing agent: Dino Capocci, Royal LePage Real Estate Services Ltd.
The action
A former hydro facility was converted into condos more than 10 years ago, with this 1,285-square-foot section set up as a penthouse with walls of windows.Royal LePage Real Estate Services Ltd.
This two-bedroom penthouse with a den was one of the larger models available at the Madison Avenue Lofts building in May, and has a wraparound, south-facing terrace of more than 850 square feet in size.
“We put it up in the summer, so people could see the outdoor furniture, the views and spend time out there when they’re looking at the unit,” said agent Dino Capocci.
“In this building, this is the only level where you get terraces this big. Some units in the building do have terraces that are a lot smaller, and a few don’t have any at all.”
There were several visitors, but no offers. It was relisted at $1,495,000, but the only offer was rejected as unsuitable. The price was then dropped to $1,449,000, and a new offer at $1.4-million was accepted.
“In this market, a lot of stuff, you try it, and if you don’t reach your price, then you start lowering your price,” Mr. Capocci said. “I’m seeing it a lot now.”
What they got
Glass doors open to the terrace from the bedrooms and dining room.Royal LePage Real Estate Services Ltd.
A former hydro facility was converted into condos more than 10 years ago, with this 1,285-square-foot section set up as a penthouse with walls of windows. Glass doors open to the terrace from the bedrooms and dining room.
There is an open entertaining area and a private den across from a U-shaped kitchen with granite countertops and stainless-steel appliances.
One of three bathrooms has been recently renovated.
The unit includes a storage locker and parking. Monthly fees of $1,065 cover water, heating, concierge and use of a common gym and rooftop deck.
The agent’s take
The unit includes a storage locker and parking. Monthly fees of $1,065 cover water, heating, concierge and use of a common gym and rooftop deck.Royal LePage Real Estate Services Ltd.
“It has a cool loft feel to it, but the outdoor space is one of the nicer outdoor spaces I’ve seen,” Mr. Capocci said.
“The building is cool, and the location is cool in the Annex/Casa Loma area.”
There is an open entertaining area and a private den across from a U-shaped kitchen with granite countertops and stainless-steel appliances.Royal LePage Real Estate Services Ltd.