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748 Woburn Ave., Toronto

Asking price: $2,379,000

Selling price: $2,330,000

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Taxes: $11,367 (2017)

Days on the market: 24

Listing agents: André Kutyan and Robert Greenberg, Harvey Kalles Real Estate Ltd.

The action

On the main floor, ceilings rise 10 feet above a panelled office, two entertaining areas with gas fireplaces, the dining room and eat-in kitchen.

This custom five-bedroom residence sits on a 40-by-120-foot lot just steps from shops and traffic on Bathurst Street, and was launched on the market with a pricetag of $2.499-million in May. Less than two months later, $120,000 was shaved off the price, which helped bring in a buyer who worked out a $2.33-million purchase agreement.

“It’s the first home next to Bathurst Street commercial properties, so it’s a tough location to sell,” said agent André Kutyan, who warned the seller they bought the home at a discount and would likely sell it at one as well.

“Anything under $2.5-million that is new home on a 40-foot lot less than five years old … is a great bargain, because new homes in the area on 40-foot lots are anywhere from $3- or $3.5-million.”

What they got

The kitchen has an island, stainless-steel appliances and double doors leading to the deck and backyard.

Four years ago, this 3,441-square-foot dwelling was custom built with a double garage that opens into a 1,348-square-foot basement with guest and recreation rooms.

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On the main floor, ceilings rise 10 feet above a panelled office, two entertaining areas with gas fireplaces, the dining room and eat-in kitchen. The kitchen has an island, stainless-steel appliances and double doors leading to the deck and backyard.

Upstairs, the master bedroom features a coffered ceiling, a fireplace, a walk-in closet and seven-piece ensuite, which is one of five bathrooms in the house.

The agent’s take

“Most homes on 40-foot lots will only have four bedrooms, so this one they were able to squeeze out a fifth bedroom,” Mr. Kutyan said.

“The city changed bylaws several years ago and doesn’t allow below-grade garages anymore, but what it gives you [in this house] is a fantastic main floor layout.”

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