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done deal

Re/Max Hallmark Bibby Group Realty

401 Queens Quay W., No. 708, Toronto

Asking price: $1.25-million

Selling price: $1.2-million

Taxes: $5,009 (2019)

Days on the market: Six

Listing agent: Christopher Bibby, Re/Max Hallmark Bibby Group Realty

The action

South-facing units at the Harbour Terrace building rarely come up for sale.Re/Max Hallmark Bibby Group Realty

Only a few residential buildings sit right on Lake Ontario, such as the well-known Harbour Terrace building, and coveted south-facing units rarely hit the open market. When it came up for sale in November, this two-bedroom suite with a solarium was the first unit of its kind listed in the building in almost two years.

“When units closer to the water come up for sale, occasionally what happens is an off-market scenario where one of the owners privy to the sale may tell a friend or someone else in the building who might move,” agent Christopher Bibby said.

“What made this so unique – and why it went so quickly – is because this is closer to the south side of the building, so from the living room, you have a real lake view that’s unobstructed and it’s overlooking the HTO urban beach, which is quite uncommon.”

What they got

The unit features an eat-in kitchen.Re/Max Hallmark Bibby Group Realty

In this roughly 30-year-old suite, almost every room is lined with south-east-facing windows and a balcony acts as a natural extension of an open entertaining area with a wood-burning fireplace.

There is an eat-in kitchen, two four-piece bathrooms and laundry machines, plus parking and a storage locker.

Each month, fees of $1,652 pay for water and heating, concierge, on-site gym, pool and rooftop deck.

The agent’s take

The unit boasts unobstructed lake views – a rarity.Re/Max Hallmark Bibby Group Realty

“A lot of these older buildings offer so much value for buyers because you’re getting a lot of things you can’t get in new construction, like the fact it’s right on the lake,” Mr. Bibby said.

“You’ll [almost] never see condo buildings built with wood-burning fireplaces in them, so that’s something that’s unique. And even the size – to get 1,600 square feet in a new building – is almost unheard of.”

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