220 George St., No. 702, Toronto
Asking price: $895,000 (June, 2020)
Previous asking prices: $975,000 (June, 2020); $999,500 (April, 2020)
Selling price: $850,000 (July, 2020)
Previous selling price: $943,500 (2019); $773,751 (2017)
Taxes: $4,678 (2020)
Days on the market: eight
Listing agents: Dino Capocci and Lauretta Stewart, Royal LePage Real Estate Services Ltd.
Buyers admired the modern style of this two-bedroom unit, but some of those arriving for in-person inspections were discouraged by the sight of a homeless encampment across the street at Moss Park. Different marketing tactics and price points were employed and a buyer was ultimately found who negotiated a $850,000 deal after Canada Day.
“I tried to rent it, terminated and relisted it, so it took some time," agent Dino Capocci said. "COVID didn’t help, but it wasn’t as much as COVID as the encampment being right outside its door.
“The buyer is an investor who will rent it out, so for them it wasn’t as big as a concern because they feel they can still rent it.”
What they got
This seventh-floor suite has a two-storey plan with south-facing windows and a balcony off the open kitchen and living room.
A floating steel and glass staircase leads upstairs where the largest bedroom has his and her closets and an ensuite bathroom.
The unit also comes with washer and dryer, a storage locker and parking. Monthly fess of $1,000 cover the cost of water and heating, and use of a common gym and rooftop terrace.
The agent’s take
“It’s stunning and two storeys, so it’s like having a little house with 1,200 square feet, two bedrooms upstairs and three bathrooms. Where do you get that in condos these days?” Mr. Capocci said. “And it has a south view.”
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