228 St. George St., No. 2, Toronto
Asking price: $899,000 (February, 2023)
Selling price: $885,000 (March, 2023)
Previous selling prices: $820,000 (April, 2017); $387,000 (February, 2007); $225,000 (May, 1999); $194,295 (March, 1997)
Taxes: $3,279 (2022)
Days on the market: 27
Listing agent: Kimmé Myles, Sotheby’s International Realty Canada
The action
This two-storey loft in a former Annex mansion provided a unique condo alternative in February and drew three dozen potential buyers for a walk-through. The absence of comparable units in the area made pricing a challenge, but the sellers were happy to accept a bid that came within $14,000 of list.
“There was a small buyer pool because it’s in an older building and house, and there are no amenities,” agent Kimmé Myles said. “So it’s not a traditional condo where you’ll have amenities, concierge, a big lobby and swimming pool.
“There hadn’t been any recent sales of any of the larger units, so we took a stab at the pricing and listed it for $899,000 and it sold for $885,000.”
What they got
This brick mansion was built around 1900, designed by well-known arts and crafts architect Eden Smith. In the 1990s, the structure was reconfigured with eight lofts and expanded at the rear with 16 stacked townhouses.
This roughly 1,100-square-foot loft has 10-foot ceilings, with leaded glass windows in the principal room. New Corian countertops and appliances have been added in the kitchen.
The lower level has two bedrooms, a second bathroom and a second entrance.
A storage locker and parking are included. Monthly fees of $801 cover water costs.
The agent’s take
“The building lobby and entryway is completely original with wood panels,” Ms. Myles said.
“The unit had been somewhat renovated … so that enhanced the beauty, uniqueness and heritage of the space.”
This unit is also well-situated at the front of the building, facing the street. “It’s an unusual property that feels like a home rather than a condo,” Ms. Myles said.
“It had a lot light coming in, and the windows [downstairs] weren’t entirely below grade, so it didn’t feel like a lower level.”