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Toronto Real Estate Buyer tops up bid for condo on former site of Molson brewery

Royal LePage Signature Realty

209 Fort York Blvd., No. 760, Toronto

Asking price: $579,000

Selling price: $581,500

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Previous selling price: $249,326 (2011)

Taxes: $2,022 (2019)

Days on the market: 10

Listing agent: Luke Fraser, Royal LePage Signature Realty

The action

The Neptune building is part of a master-planned community on the site of the former Molson brewery near Toronto's waterfront.

Royal LePage Signature Realty

Early this year, properties downtown were commonly priced below market value and listed for a short time to drum up multiple offers on a pre-set date. That strategy was not employed for this one-bedroom-plus-den suite at the Neptune building, yet it still attracted four offers in less than two weeks in late April.

“This unit we ended up selling for about $1,011 per square foot, which had not been done in the Fort York area before. You can find units for about $800 to $950 per square foot on the higher end,” agent Luke Fraser said.

“There was an awesome connection of great presentation with staging and painting, and there was a pair of buyers who had finally found something they had been looking for.”

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What they got

The kitchen area has granite counters and stainless steel appliances.

Royal LePage Signature Realty

The Neptune building is one of several in a master-planned community of multiple high-rises built on the site of the former Molson brewery between Fort York and Coronation Park.

This 575-square-foot unit is less than 10 years old, with an open living room, a south-facing balcony and an adjacent cooking space with granite counters, stainless steel appliances and a den off to the side.

Ensuite laundry facilities, a locker and parking are included.

Monthly fees of $454 pay for water, heating, concierge and maintenance of common areas.

The agent’s take

“I liked the open layout … [because] there wasn’t a lot of wasted space,” Mr. Fraser said.

“It had a cool view facing the courtyard and a bit of the lake as well. And it was always a bright unit.”

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The building also provides the benefit of a partnership with Airbnb and on-site pool, fitness, media and party rooms. “It’s got five-star amenities,” Mr. Fraser said. “And it has lots of visitor parking, which is a very underrated amenity.”

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