140 SIMCOE ST., NO. 1414, TORONTO
ASKING PRICE $389,000
SELLING PRICE $415,333
PREVIOUS SELLING PRICES $314,500 (2008); $225,785 (2005)
TAXES $2,109 (2011)
DAYS ON THE MARKET Six
LISTING AGENT Julie Kinnear, Royal LePage Real Estate Services Ltd.
The Action: In a high rise across from the new Shangri-La hotel in the Entertainment District, this one-bedroom plus den suite was listed a few weeks after a bidding war for a similar unit. One hopeful buyer presented an offer on day one, but it was reviewed – along with two more bids – only after a week of promotion.
What They Got: This 14 th– floor suite in a 16-storey tower, called University Plaza, is a 650-square-foot space with an open living and dining area with laminate floors, east-facing windows and a walkout to a balcony with custom wood floors and sliding doors into an adjacent bedroom with a walk-in closet.
Closer to the foyer is a four-piece bathroom, laundry closet, open den and U-shaped kitchen with stainless steel appliances, granite counters and breakfast bar.
A locker and parking spot provides storage for the unit, which has monthly fees of $355 to cover costs for heating and water and upkeep of the gym, media, games and recreation rooms and a rooftop terrace with a putting green and covered barbecue and entertaining area.
The Agent's Take: "It has a nice square layout, it was a good use of space and my clients were fastidious, so it showed perfectly," says agent Julie Kinnear. "Right now, buildings are being built within a foot of each other …but this one, there's no concern about that. You'll never have construction in your view, so it's quiet and calming."
The proximity to amenities and services also gave the unit more allure. "That's the building that has a cool walking track on top that goes all the way around and a full-time concierge," Ms. Kinnear notes. "The location is pretty great … right across from the new Shangri-La hotel, so it's kind of trendy there."