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Harvey Kalles Real Estate Ltd.

70 Carmichael Ave., Toronto

Asking price: $3,695,000 (Nov. 2019)

Previous listing price: $3,795,000 (Sept. 2019)

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Selling price: $3,480,000

Taxes: not available

Days on the market: 41

Listing agents: Andre Kutyan and Robert Greenberg, Harvey Kalles Real Estate Ltd.

The action

Intricate ceiling trims adorn the main level.

Harvey Kalles Real Estate Ltd.

Near the Toronto Cricket Skating and Curling Club, a similar, fairly new residence sold for $3.7-million in 2017, but only fetched $3.5-million last year. Given that outcome, the sellers of this luxury home – which was listed nearby at the same time – dropped their own price, but resisted buyers seeking steep bargains.

“Prices have softened since 2017 – there’s no secret – so it’s up to sellers to be proactive with their pricing to make sure they’re in line with market conditions,” agent Andre Kutyan said.

“[Buyers] originally came with a lowball offer a couple weeks before and we couldn’t get anything done. So, we were talking about relisting this in the new year at a lower price, but they came back with a significantly improved offer and were able to get a deal done at $3.48-million.”

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What they got

The two main-floor entertaining areas both have gas fireplaces.

Harvey Kalles Real Estate Ltd.

This four-bedroom home was built last year on a 52-foot-by-115-foot lot. It has a limestone façade, built-in double garage and multiple walkouts to a fenced-in backyard.

Inside, on the main floor, intricate trim and ceiling treatments decorate the study, eat-in kitchen and two entertaining areas, each with gas fireplaces. Upstairs, the master bathroom, the largest of seven bathrooms in the house, has a nine-piece setup. The lower level has a guest bedroom and recreation space with heated, porcelain floors.

The agent’s take

The master suite features a nine-piece ensuite bathroom.

Harvey Kalles Real Estate Ltd.

“It has high-end finishes for a custom home,” Mr. Kutyan said.

“[Furthermore], the average lot in that pocket is about 40 feet in width so when you have a 52-footer … [with] a 4,000-square-foot home like this, it’s rare compared to 40-footers, which might be 3,000 or 3,500 square feet at most.”

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