Pope Real Estate Ltd.
318 King St. E., No. 1004, Toronto
Asking price: $1,249,990 (June, 2022)
Previous asking prices: $1,249,999 (May, 2022); $1,299,900 (April, 2022)*Under previous brokerage
Selling price: $1,217,750 (July, 2022)
Previous selling prices: $745,000 (January, 2017); $605,221 (February, 2015)
Taxes: $4,114 (2022)
Days on the market: 34
Listing agent: Robin Pope, Pope Real Estate Ltd.
The action
The 1,087-square-foot suite has nine-foot concrete ceilings and was built in 2013.Pope Real Estate Ltd.
This two-bedroom condo in Corktown was listed for seven weeks this spring but failed to generate an offer, even after a $49,901 price reduction. The listing then passed to another agent, Robin Pope, who insisted on brighter lighting, well-exposed photographs and proper staging of the smaller bedroom. The asking was kept close to the May level at $1,249,990.
“A similar apartment sold just before we put this on the market, but it was not as nice and it sold for $1,150,000,” Mr. Pope said.
“A lot of agents, because the market was changing, were trying to suggest this wasn’t worth more than that, but I thought it was.”
After a few weeks, Mr. Pope advised the sellers to drop the price or rent out the unit instead. That pushed one hesitant buyer to make an offer.
“Being that the rental market was so robust, the buyer’s agent was afraid if we put it on the market, we’d get offers and his client would no longer have the opportunity to buy the apartment,” Mr. Pope said.
“Shortly after they saw it for a second time, they made us an offer and we negotiated for $1,217,750.”
What they got
There is an L-shaped balcony outside the primary bedroom and principal room.Pope Real Estate Ltd.
This 1,087-square-foot suite was built in 2013 with nine-foot concrete ceilings, full-height windows and an L-shaped balcony outside the primary bedroom and principal room.
Marla Nazzicone Design recently remodelled the two bathrooms and the kitchen, which now has built-in appliances, full height cabinetry and a peninsula with a waterfall-edge design.
The unit includes a storage locker and parking. Monthly fees of $809 pay for water, heating, concierge and use of a rooftop deck.
The agent’s take
The unit includes a storage locker and parking.Pope Real Estate Ltd.
“It appeals to buyers that are more mature and would appreciate all the upgrades that had been made to make the apartment more like a real home, not a cookie cutter condo,” Mr. Pope said.