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done deal

Brad J. Lamb Realty Inc.

20 Tubman Ave., No 1701, Toronto

Asking price: $724,900 (March 24, 2020)

Previous asking price: $599,900 (March 17, 2020)

Selling price: $715,000

Previous selling price: $370,441 (January, 2020)

Taxes: N/A

Days on the market: Zero

Listing agent: Michele Pedro, Brad J. Lamb Realty Inc.; Co-op agent Larry Vinogradsky, Property.ca Inc.

The action

The unit is on the 17th floor of a new high-rise called Wyatt.Brad J. Lamb Realty Inc.

Plans were already in motion to list this one-bedroom-plus-den unit on March 17 when provincial physical distancing restrictions were brought in. Several low bids were quickly registered and rejected, and the property was subsequently relisted at an asking price $125,000 higher than previous. Immediately an offer of $715,000 was submitted and accepted.

“We weren’t in a position where we had to sell, so we had a backup plan that if COVID affected us in a way that we couldn’t sell it for the price [we wanted], we’d take it off the market and relist it later,” agent Michele Pedro said.

“Someone who had seen it prior, who was interested, came back. A lot of buyers thought it was a time to get a good deal, so they were all coming in really low.”

What they got

The unit features enclosed kitchen appliances.Brad J. Lamb Realty Inc.

On the 17th floor of a new high-rise called Wyatt, this south-west corner unit offers 604 square feet of living space with floor-to-ceiling windows and a balcony off the living and dining area.

Conveniences include an enclosed den and kitchen and laundry appliances, plus a locker and parking.

Monthly fees of $403 cover use of water, heating, and concierge, as well as amenities, such as indoor and outdoor kids’ zones.

The agent’s take

The balcony looks southwest toward the city centre and the lake.Brad J. Lamb Realty Inc.

“It’s in Regent Park, which has a lot of good amenities,” Ms. Pedro said.

“It’s really family-friendly, across from the new community centre and it’s pretty affordable because Regent Park isn’t yet booming, and it’s still downtown with access to everything.”

The unit has a southwest view toward the city and lake. “It has an unobstructed view, which not a lot of units have,” Ms. Pedro said.

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