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Toronto Real Estate Buyer pays extra $157,500 to push past other bidders for Moss Park condo unit

Keller Williams Realty Solutions

320 Richmond St. E., No. 1103, Toronto

Asking price: $650,000

Selling price: $807,500

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Previous selling prices: $465,000 (2015); $445,000 (Oct. 2012)

Taxes: $2,831 (2018)

Days on the market: Eight

Listing agent: Louis Chaffringeon, Keller Williams Realty Solutions

The action

The buyer outbid other shoppers with a $157,500 markup to secure a deal mid-March.

Keller Williams Realty Solutions

Based on the record of previous sales early this year, this two-bedroom corner suite at the Modern building on Richmond was priced at $650,000 in anticipation of buyers pushing it upwards of $750,000 on the offer date. But one shopper went further, trumping other shoppers with a $157,500 markup to secure a deal mid-March.

“In this market, people don’t really want to compete, even for a nice unit, so as soon as they hear there are more than four offers, so they don’t show up,” said agent Louis Chaffringeon, who was still left with several bidders.

“There was nothing for sale at that time in the building. … So we sold for a bit above $1,000 per square foot, which was a first for the building.”

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What they got

Monthly fees of $557 are allocated for the cost of water, a gym, party room and terrace with a pool.

Keller Williams Realty Solutions

At the southeast corner of a seven-year-old building, this 11th-floor suite has window wall on two sides of the open living area, as well as access to the balcony.

Hidden away are two bathrooms and laundry facilities.

Monthly fees of $557 are allocated for the cost of water, a gym, party room and terrace with a pool. The unit also comes with a storage locker and parking.

The agent’s take

This 11th-floor suite is located at the southeast corner of a seven-year-old building.

Keller Williams Realty Solutions

“It’s one of the nicest newer condos in that area … and it has a striking design and a very wide rooftop terrace with gorgeous views of the downtown skyline,” Mr. Chaffringeon said.

“It’s a gorgeous southeast corner unit with lots of windows, so you have light all day long and two good sized bedrooms, which is ideal for a single person who has company for a week or a couple who want to have a kid.”

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