Distillery District penthouse tops $1-million ceiling

70 Mill St. Ph. 9, Toronto

Asking price: $1,065,000 (May, 2021)

Selling price: $1,041,500 (June, 2021)

Taxes: $3,004 (2021)

Days on the market: 16

Listing agent: Christopher Bibby, Re/Max Hallmark Bibby Group Realty

The action

This two-storey penthouse was the first south-facing vacancy in two years in the two mid-rise buildings across from the popular Distillery District. About three dozen potential buyers toured the property. Several purchase offers were rejected before the sellers ultimately accepted a bid just shy of the asking price.

“In both buildings we hadn’t seen sales over $1-million, so we were trying to break that boundary,” agent Christopher Bibby said.

“We had people interested in making offers much lower than what we were asking, so early on we deterred them and said we were patient and didn’t need to sell.”

What they got

This two-bedroom suite offers a two-level layout with a wide terrace off the living room.

In recent years, the more than 20-year-old space was outfitted with a new staircase and renovations to the kitchen and pair of four-piece bathrooms.

The unit comes with a storage locker and underground parking. Monthly fees of $927 cover utilities.

The agent’s take

“On the south side, you’re overlooking the Distillery District, which is historic, and there’s no pending or planned future development,” Mr. Bibby said.

“So, you had the protection, security and peace of mind your view will stay there.”

The unit’s physical attributes were also remarkable. “It was fully renovated with a newer kitchen, and [my client] was an avid gardener, so it had a beautiful terrace,” Mr. Bibby said.

“They do have wood burning fireplace as well, which is something you see more in earlier eras.”

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