Older condo in Toronto’s Distillery district has more space and an under-$700,000 price

39 Parliament St., No. 201, Toronto

Asking price: $699,000 (November, 2022)

Selling price: $695,000 (December, 2022)

Previous selling prices: $390,000 (August, 2013); $305,000 (August, 2008); $184,000 (October, 2004); $182,500 (November, 2001); $157,050 (April, 2000)

Taxes: $2,331 (2022)

Days on the market: Six

Buyers’ agent: Ira Jelinek, Harvey Kalles Real Estate Ltd.

The action

Realtor Ira Jelinek’s client was a midtown renter tired of paying top dollar for a 400-square-foot condo. With a budget capped at $700,000, the young professional spent six months looking for the right space and eventually landed on this two-bedroom suite in the Distillery District and managed to trim $4,000 off the $699,000 list price.

“[My client] was renting a junior one-bedroom unit and it cost a lot of money to rent because it was a nice, newer building, but wanted to spend that money on a mortgage instead and get more space,” Mr. Jelinek said.

“We were looking at two-bedroom units and they all seemed smaller than this one we found and not as good of a location compared to being right in the heart of the Distillery. And he got it for under $700,000, so it just felt right.”

What they got

At the gateway to the historic Distillery District, this 22-year-old building is home to public galleries and shops at its base and private suites above.

This south-facing unit has a contemporary design with nine-foot ceilings, hardwood floors and sliding doors to the bathroom and one bedroom.

There is a dining area off the kitchen and a living room along the sliding doors to a wide balcony.

The unit includes five appliances, plus a storage locker and parking spot. Monthly fees of $562 cover utilities and upkeep of common areas like the rooftop terrace.

The agent’s take

“It’s good value,” Mr. Jelinek said. “Because it’s in an older building compared to the rest of the Distillery District buildings built circa 2010 to 2022, you have more space.”