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Toronto Real Estate Eleven shoppers clash for big corner suite in Midtown Toronto

Royal LePage Real Estate Services Ltd.

212 Eglinton Ave. E., No. 609, Toronto

Asking price: $509,000

Selling price: $617,000

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Taxes: $2,462 (2018)

Days on the market: Seven

Listing agents: Dino Capocci and Lauretta Stewart, Royal LePage Real Estate Services Ltd.

The action

Monthly fees of $584 for the unit in the Panache building pay for utilities, 24-hour concierge, guest suites, a gym, pool and party room.

Royal LePage Real Estate Services Ltd.

After studying the pattern of midtown suite sales earlier this year, agent Dino Capocci priced two units at the Panache building around $510,000. He anticipated buyers would send in offers higher than the mid $500,000s.

Both ultimately fetched more than $600,000, but this larger two-bedroom corner suite received 11 bids and thus a bigger premium of $108,000 in early April.

“It’s a great building and there’s not a lot of competing [units],” Mr. Capocci said. “[Furthermore] there’s a big demand for two-bedroom units in the $600,000 range.”

What they got

The 750-square-foot unit has two bedrooms.

Royal LePage Real Estate Services Ltd.

This roughly 10-year-old suite was given about 750 square feet of living space, encompassing two bedrooms and an open living and dining area with windows on two sides and sliding balcony doors.

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There is a four-piece bathroom and laundry facilities, as well as a kitchen with granite counters, a breakfast bar and upgraded stainless steel appliances.

Other assets include a locker and parking. Monthly fees of $584 pay for utilities, 24-hour concierge, guest suites, a gym, pool and party room.

The agent’s take

The corner suite has a large balcony space.

Royal LePage Real Estate Services Ltd.

“It has a large outdoor balcony and it’s a corner unit, so it’s a little brighter [than other units],” Mr. Capocci said. “And it was nicely decorated and nicely laid out, so everyone really loved that unit.”

Buyers were also drawn to amenities in and around the high-rise, such as the future LRT line. “A lot of people know we’re past the halfway mark,” Mr. Capocci said.

“There have been some renderings showing big wide sidewalks with cafes too, so the area will be very vibrant after all the construction is finished.”

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