This one-bedroom condo is in the heart of the Byward Market.Re/Max Hallmark Realty Group
90 George St., Unit 403, Ottawa
Asking price: $359,900
Selling price: $348,276
Condo fees: $633.34
Previous selling price: $324,193 (2009)
Days on market: 28
Taxes: $3,393.00
Listing agent: Matt Richling, Re/Max Hallmark Realty Group
The action
The condo fees – at more than $630 per month – are higher than usual in the area so that held back a quick sale.Re/Max Hallmark Realty Group
Condo sales have buoyed the Ottawa market throughout 2018, so it was a surprise to have this property on the market for as long as it was.
"Our condo market in [2017] wasn’t in the best shape, but this year we’ve seen it pop back up to where we expected it to be. We’re seeing multiple offers and we’ve got a shortage of supply right now,” listing agent Matt Richling says.
He says the condo fees – at more than $630 per month – are higher than usual in the area so that held back a quick sale.
“It’s a one-bedroom with parking so they’re expecting a little bit lower [fees],” Mr. Richling says. “But the quality of the building and the amenities were on par with what this buyer was looking for.”
What they got
The jewel of the property is the south-facing 400-square-foot terrace.Re/Max Hallmark Realty Group
This one-bedroom condo is in the heart of the ByWard Market. At 750 square feet it’s on the larger side – and includes a den – but the jewel of the property is the south-facing 400-square-foot terrace. It is one of only five units in the building (the penthouse included) that has a private terrace.
“It’s one of [Ottawa’s] top five-star buildings. We’ve got a lot of [Members of Parliament], ex-mayors, and NHL players in that building,” Mr. Richling says. “But to have a terrace in there is somewhat unique and rare.”
The property features a gas stove and large windows throughout. Heated underground parking and a storage locker are also included.
The building’s amenities go “over and above,” according to Mr. Richling. There is enhanced 24/7 security, a pool, a fitness centre, hot tub, sauna and a common terrace with a barbecue and entertaining areas.
“When the building first launched there was a gold-key concierge, and (the owner) had a 7-series BMW limo to drive residents around,” Mr. Richling says. “They’ve since got rid of that, but it’s that type of building.”
The agent’s take
'We’ve got a lot of [Members of Parliament], ex-mayors, and NHL players in that building,' the listing agent says.Re/Max Hallmark Realty Group
There was a lot of interest for the property and it sold in less than a month. The condo fees, Mr. Richling, admits, were more than many house hunters expected, but the buyer – a medical professional – was impressed with the quality of amenities and the building itself.
“There wasn’t a question of value,” Mr. Richling says.
Your house is your most valuable asset. We have a weekly Real Estate newsletter to help you stay on top of news on the housing market, mortgages, the latest closings and more. Sign up today.