489-539 King St. W., East Mountain Penthouse, 18th floor, Toronto
Asking price: N/A
Selling price: $16-million (April, 2020)
Days on the market: N/A
Listing agent: Riz Dhanji, RAD Marketing; Buyers’ agent: Haüskey Realty
Westbank and Allied collaborated with celebrated a Danish architect, Bjarke Ingels, to develop an innovative, mixed-use building resembling mountain ranges in downtown Toronto. When plans were released, an unnamed local buyer purchased the East Mountain Penthouse for $16-million. It is the first penthouse sale for the project, dubbed King Toronto, and holds the record for the city’s highest pre-construction condominium sale in the past two years.
“The King Toronto penthouses are truly one-of-a-kind in the grand scheme of residential real estate not only in Toronto, but in North America, in terms of what they’re offering from a lifestyle and architecture perspective,” said Neel Kawale, co-founder and chief executive officer of Haüskey.
“[My client’s] been an investor in real estate globally and being able to look at a building by Bjarke Ingels was a big thing. He’s one of the top architects in the world, very focused on urban design that’s very unique.”
What they got
Construction is underway on the King Street site, just west of Spadina Avenue, where units will cascade upwards around a courtyard into four ‘mountain peaks’ each capped by two penthouses.
This custom, two-storey penthouse will have four bedrooms and 4½ bathrooms and encompass 5,865 square feet of living space occupying the entire southeast summit. There will be a double-height living room, a brass-clad kitchen, a large dining area, a wine room and an indoor pool.
Six terraces will total another 1,200 square feet of outdoor living space, one with a hot tub.
Completion is slated for 2024.
The agent’s take
“There are very few architectural or ‘starchitect’-driven communities that are being built in Toronto and this really was once-in-a-generation opportunity that Westbank has put together with their partners and Bjarke Ingels’ team,” Mr. Kawale said.
“It’s really exciting that at this stage of a project like this, an individual – my client – gets to work directly with the architect, developer and their whole team to customize their unit.”
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