Sotheby’s International Realty Canada
183 Wellington St., W., No. 4901, Toronto
Asking price: $7.5-million (July, 2023)
Selling price: $6.75-million (January, 2024)
Previous selling price: $3.9-million (April, 2020); $2,638,186 (November, 2011)
Taxes: $15,259 (2023)
Days on the market: 185
Listing agents: Andy Taylor and Jodi Allen, Sotheby’s International Realty Canada
The action
Windows line every room, including the newly remodelled kitchen, equipped with upscale appliances.Sotheby’s International Realty Canada
This nearly 2,600-square-foot, luxury corner unit atop the Ritz Carlton Hotel across from Roy Thomson Hall received several offers soon after it came to market last summer but none met its lofty $7.5-million asking price. The seller demured, trusting that better terms would emerge with patience.
“For the most part, in the building, people don’t need to sell, and the large units just don’t come up,” said agent Andy Taylor.
“Out of 159 units, there are only seven units this size on the west side and seven units on the east side.”
Another building resident eventually cut a deal for $6.75-million after the holidays.
“The person who bought it was in a smaller unit and wanted that extra office and incredible space,” Mr. Taylor said.
“For larger units over 2,000 square feet, prices in the building are consistently going for over $2,000 a square foot, and units above 2,500 to 3,000 are getting into the $3,000s [a square foot].”
What they got
The unit has a double-sided fireplace between the den and living room.Sotheby’s International Realty Canada
This two-bedroom suite has many luxuries, from direct elevator access to a double-sided fireplace between the den and living room.
Windows line every room, including the newly remodeled kitchen, equipped with upscale appliances, and the primary suite, which has a walk-through closet and six-piece bathroom.
There are two other bathrooms and a laundry room. The unit comes with a storage locker and two parking spots.
Monthly fees of $3,378 cover water and use of the recreational facilities. Residents also have access to hotel amenities, such as a saltwater pool and valet parking.
The agent’s take
The primary suite has a walk-through closet and a six-piece bathroom.Sotheby’s International Realty Canada
“The Ritz-Carlton is probably the best serviced building in the city,” Mr. Taylor said.
“This [unit] was exquisitely done, completely gutted right back to the concrete and renovated.”