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Done Deal, 438 Richmond St. West, Toronto
Done Deal, 438 Richmond St. West, Toronto

Buyer takes sheers to price tag of Fashion District condo Add to ...

438 RICHMOND ST. W. NO. 503, TORONTO

ASKING PRICE $384,900

SELLING PRICE $375,000

PREVIOUS SELLING PRICE $342,000 (2007); $183,715 (2002)

TAXES $2,291 (2010)

DAYS ON THE MARKET 21

LISTING AGENT Christopher Bibby, Sutton Group-Associates Realty Inc.

The Action: More than two dozen buyers were allowed private access to this one-bedroom-plus-den suite in The Morgan in the Fashion District.

What They Got: On the fifth floor of a nearly decade-old residence, this over 800-square-foot suite was stylishly dressed with ceramic flooring in the galley-like kitchen, broadloom in the bedroom and laminate in the enclosed den and combined living and dining room, which has a balcony.

Modern appointments include a nine-foot ceiling, stainless steel kitchen appliances and laundry machines, plus a four-piece bathroom.

There is a monthly fee of $457, plus heat and hydro. A gym, theatre and party room are on site, as well as a rooftop deck with a barbecue, visitor parking and 24-hour concierge.

Local amenities include popular shops, eateries and clubs in the Entertainment District and Chinatown, as well as public transit and new Loblaws on Portland Street.

The Agent’s Take: “One thing that’s typical of this building is that unit sizes are quite large, and this is reflective of many older buildings,” agent Christopher Bibby said.

“The den was large enough to be a second bedroom, and in most cases, it’s the size of a master suite in most one plus one [units]that you find on the market these days.”

Attractions in and around the building also puts it highly in demand. “It was far ahead of its time when it was built …first of all it has one of the most interesting lobbies with a spiral staircase that leads up to the amenities,” Mr. Bibby said. “It’s a great little hub trapped within so many different neighbourhoods.”

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