Lower price finally finds buyer for upscale Toronto townhouse

209C Randolph Rd., Toronto

Asking price: $1,879,900 (November, 2020)

Previous asking price: $2,050,000 (June, 2020); $1,998,800 (August, 2020); $1,950,000 (September, 2020)

Selling price: $1,750,000 (January, 2021)

Taxes: $7,886 (2020)

Days on the market: N/A

Listing agents: Nigel Denham and Robert Nelson, Sotheby’s International Realty Canada

The action

This freehold townhouse without a private yard stood out in a neighbourhood made up mainly of detached single-family homes on their own little patch of ground. The difficulty in finding a buyer led to three drops in the asking price over several months. The first purchase offer, of $1.75-million, came after it was finally taken off the market and offered for lease.

“In that price point, you’re almost getting land value or a tiny three-bedroom bungalow in various levels of decay,” agent Nigel Denham said, “whereas this was a large four-bedroom, three-bath home with a good volume of space and everything was 13 years new.”

Potential buyers who proved most interested in the property were “a combination of locals or people coming from the city, out of condominiums, looking for a bit more space.”

What they got

This three-storey townhouse has an elevator, a finished basement with heated floors, a small maintenance-free terrace and direct access to a tandem two-car garage.

The main floor is open concept with the foyer between the den and living room. Set further back is a dining area and kitchen anchored by a large island with a breakfast bar and built-in wine fridge.

Monthly fees of $210 cover lawn care and snow removal.

The agent’s take

The primary bedroom takes up the entire third floor with “a wonderful volume of space with room for a den or home office,” Mr. Denham said.

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