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Sotheby's International Realty Canada

37 Granby St., Toronto

Asking price: $1,795,000 (September, 2019)

Previous listing price: $1,895,000 (September, 2019)

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Selling price: $1.7-million

Previous selling price: $235,000 (1998)

Taxes: $5,181 (2019)

Days on the market: 31

Listing agents: Paul Maranger and Christian Vermast, Sotheby’s International Realty Canada

The action

The previous owner refashioned two units within this more than century-old home.

Sotheby's International Realty Canada

Around Ryerson University most of the activity is from investor buyers looking for high-rise suites that they can then rent out to students, so this luxury-priced 2½-storey row house may have been overlooked. Since no offers materialized during its first two weeks on the market in September, it was relisted for $100,000 less. Two offers emerged after Thanksgiving.

“Because this home was so atypical, it’s typical it took [more than] a good month to sell,” agent Paul Maranger said.

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“I expected it would be owner occupied with supplemental income to help pay the mortgage. But the response was greater from pure investors, I think because the vacancy rate in Toronto is so dramatically below the natural rate of vacancy that there’s great demand for executive rentals.”

What they got

The kitchen exits to a private, south-facing yard.

Sotheby's International Realty Canada

The previous owner – an interior designer – expertly fashioned two units within the shell of this more than century-old home on a 14-foot-by 80-foot lot.

A two-bedroom unit offers 1,300 square feet of living space across the main and lower levels, complete with open living and dining areas with exposed brick walls and a kitchen that exits to a private, south-facing yard.

On the upper level is the sole bedroom, which opens to a rooftop terrace.

Sotheby's International Realty Canada

Upstairs, the owner’s unit provides 1,105 square feet with a rooftop terrace off the sole bedroom.

The agent’s take

“This is a duplex and what’s rare about this is the quality of both units were the same,” Mr. Maranger said.

“There was millwork, mouldings and custom built-ins you’d never see anywhere but in a custom-made home in Rosedale or Forest Hill. So for the area, it was extremely high end.”

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The setting also feels both urban and suburban. “Because it’s not a through street, it’s crazy quiet, which is unusual,” Mr. Maranger said.

“It didn’t have on site parking, which is not a problem because if you walk out your front door and turn your head left, you can see College Park.”

Sotheby's International Realty Canada

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