120 Homewood Ave., No. 323, Toronto
Asking price: $699,000
Selling price: $840,000
Taxes: $3,034 (2017)
Days on the market: Eight
Listing agent: Christopher Kowal, Royal LePage Estate Realty
The action: The Verve building has only a few suites with large private outdoor space, so this two-bedroom suite with a 300-square-foot terrace drew about 40 visitors during a week-long marketing campaign in April.
“There were six offers altogether because we had a bully offer earlier in the week, but the sixth one didn’t come back,” agent Christopher Kowal said.
“It sold on offer night with five offers. All except one of which were extremely close.”
What they got: In a roughly decade-old high-rise, large terraces with gas and water outlets are coveted assets of third-floor suites, such as this 850-square-foot unit.
The seller elevated its form and function with beams and pot lights across the 10-foot ceilings in the principle room, storage banquet in the dining area and stainless steel kitchen appliances. Renovations were also done in a master bathroom with a steam shower.
Laundry facilities and parking round out unit assets. Monthly fees of $503 covers the cost of cable and heating, concierge, gym and outdoor pool.
The agent's take: “The unusual thing about this is the large, 300-square-foot terrace. Those are pretty rare in the building, so those units [hardly] come available,” Mr. Kowal said.
“It has a new loft feeling and it has an unobstructed view of a city park.”
Buyers also relished public and private attractions nearby. “It’s got one of the best gyms for a condo in the city and the best pool because it’s on the 8th-floor podium with a fantastic view of downtown that are completely unobstructed,” Mr. Kowal said.
“It’s also well located because it’s close to Sherbourne subway and … the Wellesley subway. And the Wellesley bus is right outside the [building’s] front door.”