707 Eglinton Ave. W., No. 205, Toronto
Asking price: $549,000 (March, 2021)
Selling price: $561,000 (March, 2021)
Previous selling price: $440,000 (2020)
Taxes: not applicable
Days on the market: one
Listing agent: Kimmé Myles, Sotheby’s International Realty Canada
This one-bedroom corner unit is situated in an Art Deco co-ownership building where turnover is so low that the last sale took place last summer.
“There are very few Art Deco buildings in the city – this one was artfully restored – so it’s kind of a destination, which is why it wouldn’t really matter when we listed this unit, it would always be in demand,” agent Kimmé Myles said.
“However, the market was quite strong in March.”
In fact, the seller immediately collected two bids. “They were both good offers, so we saw it as a great opportunity to move forward,” she said.
What they got
This 82-year-old unit brings together original and modern elements, from refurbished doorknobs and hardwood flooring, to new bathroom fixtures and sliding doors to the bedroom and the living room.
The kitchen, which exits to a terrace, has new cabinetry and stainless steel appliances.
“It’s vintage chic meets modern cool because the upgrades kept in line with the sensibility of the Art Deco building,” Ms. Myles said.
The unit also comes with a locker and parking. Monthly fees, including utility costs, come in at $763.
The agent’s take
“With co-ownership, the purchaser owns shares in the corporation and the maintenance fees included [property] taxes – and in particular in this building – it even includes cable and internet,” Ms. Myles said.
“Usually, the square footage is larger on a co-ownership unit than you’d get in a condo, so the price per square foot is lower than it would be in a condo.”