Corner unit in King West condo building draws multiple bids

Re/Max Hallmark Pierre Carapetian Group Realty

525 Adelaide St. W., No. 1115, Toronto

Asking price: $1,099,000

Selling price: $1,060,000

Previous selling price: $527,729 (2017)

Taxes: $3,641 (2019)

Days on the market: 20

Listing agent: Pierre Carapetian, Re/Max Hallmark Pierre Carapetian Group Realty

The action

The unit is in a corner of a two-year-old high-rise called Musée.Re/Max Hallmark Pierre Carapetian Group Realty

This three-bedroom corner suite was decluttered, cleaned and staged to mask any sign of the young family living there. Negotiations with multiple bidders carried on over several weeks following Canada Day holiday.

“The same people came back and raised their price several times because they came in very low and we got another [buyer’s] bid after these people came in and they were also low,” agent Pierre Carapetian said.

“The market has shifted to a much more balanced market and people are putting their feet in the sand, so you have to do a lot more salesmanship to get things done; things aren’t selling themselves anymore.”

What they got

Floor-to-ceiling windows let plenty of light flow into the space.Re/Max Hallmark Pierre Carapetian Group Realty

At the northeast corner of a two-year-old high-rise, called Musée, this 1,079-square-foot unit is essentially lined with floor-to-ceiling windows, with balconies off the master suite and main living and dining area.

The kitchen is outfitted with quartz counter tops and stainless steel appliances. There are two full bathrooms and stacked laundry machines. A storage locker and parking are included.

Each month, fees of $669 pay for heating, concierge, gym and outdoor pool.

The agent’s take

“This building was set back in such a way that other buildings east didn’t block its exposure, so you got a beautiful view of the skyline that was unexpected,” Mr. Carapetian said.

“[Plus] it was very well appointed and newer, so a lot of clients liked that.”

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