138 Princess St., No. 513, Toronto (Moss Park)
Asking price: $999,000 (April, 2021)
Selling price: $1,065,000 (April, 2021)
Previous selling price: $553,714 (June, 2010)
Taxes: $4,414 (2020)
Days on the market: Six
Listing agent: Rebecca Colwill, Re/Max Hallmark Pierre Carapetian Group Realty
During the pandemic, renting out this two-bedroom corner suite became more difficult and less lucrative for the owner, who was ready to let it go before similar units flooded the spring resale market. The unit’s $999,000 list price and stylishly staged interiors persuaded several buyers into applying for ownership. One party surpassed the bunch by nudging their offer up to $1.065-million.
“Within the span of three weeks, there were about eight units for sale in the building, which is very unusual,” agent Rebecca Colwill said.
“[Plus], there had been a lot of other listings in the area that had been sitting on the market for quite a while, so we weren’t sure what to expect, which is why we priced it a little lower than we would have normally just to get more people in.”
What they got
More than a decade ago, this 1,165-square-foot unit was constructed with exposed concrete walls, nine-foot ceilings and exposed duct work for a modern, industrial aesthetic.
To bring the outdoors in, there is a south-west-facing balcony off of the open principal room, as well as floor-to-ceiling windows in the primary bedroom and ensuite bathroom. Other assets include laundry machines and stainless steel appliances, plus a locker and parking. Monthly fees of $830 include heating and water usage.
The agent’s take
“It’s a very large unit,” Ms. Colwill said.
“It’s in an area that’s very up-and-coming with new units selling quite high, so when you look at the price per square foot for resales versus price per square foot for pre-construction in that area, this is quite a good value.”
Your house is your most valuable asset. We have a weekly Real Estate newsletter to help you stay on top of news on the housing market, mortgages, the latest closings and more. Sign up today.