Royal LePage Signature Realty
215 Fort York Blvd., No. 420, Toronto
Asking price: $589,000 (July 2023)
Previous asking prices: $729,000 (April 2023); $739,900 (March 2023)
Selling price: $730,000 (July 2023)
Previous selling price: $300,291 (November 2011)
Taxes: $2,281 (2022)
Property days on market: 110
Listing agents: Elias Ben Khelifa and Munira Ravji, Royal LePage Signature Realty
There is a four-piece bathroom and the standard kitchen.Royal LePage Signature Realty
The action
Sixty potential buyers made their way through this two-bedroom corner unit over the spring, but signs of tenants drained their excitement, even after a price drop from $739,900 to $729,000, said agent Munira Ravji.
“With tenants, they’re not invested in the selling process. … So it doesn’t present well,” said Ms. Ravji.
“The second part that’s really scary for buyers is being in a situation where a tenant doesn’t want to leave, so you’re taking on an incredible amount of risk.”
The tenants vacated the unit in the summer, giving the owners the chance to repaint, install new flooring and relist at an eye-catching price of $589,000. Within 24 hours, a deal was signed at $730,000.
“As soon as we did that transformation and it showed completely vacant, it got onto people’s radar,” said Ms. Ravji.
This unit has an open entertaining area at its centre.Royal LePage Signature Realty
What they got
This 663-square-foot unit has an open entertaining area at its centre. There is a four-piece bathroom and the standard kitchen and laundry appliances.
A storage locker and parking spot complete the package. Monthly fees of $579 cover water and heating.
Residents can also use a rooftop deck and indoor pool.Royal LePage Signature Realty
The agent’s take
“The thing that really stood out about this one is it has a large terrace, which in these communities you don’t get – you usually just get a balcony,” said Ms. Ravji.
“The larger terrace and floor-to-ceiling windows make the unit feel a lot bigger.”
Residents can also use a rooftop deck and indoor pool on site.
“Coronation Park is right across the street and there are playgrounds downstairs, so Fort York is a very family-friendly community,” Ms. Ravji said.
Royal LePage Signature Realty