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Sotheby’s International Realty Canada

1 Belsize Dr., Ph 7, Toronto

Asking price: $1,350,000 (December, 2020)

Previous asking price: $1,475,000 (November, 2020)

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Selling price: $1,350,000 (December, 2020)

Taxes: N/A

Days on the market: four

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

The action

This two-bedroom plus den penthouse was among the first listed at the new J. Davis House nine-story mid-rise near Davisville subway station, but entered the market as it was experiencing a holiday period slowdown. In its first four weeks of availability, only seven home shoppers made in-person visits. In December, the asking price was reduced by $125,000, enticing one of the previous visitors to make an offer.

The two-bedroom plus den penthouse has 1,070-square-feet of living space.

Sotheby’s International Realty Canada

“The condo market flipped from November – when we had a glut of units – to about early December …[when] there was less on the market,” said agent Paul Maranger.

“Typical of buyers, if they like it but feel it’s overpriced, they continue their search. Once we alerted agents we were dropping the price, it makes them change their stance.”

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What they got

The kitchen is fitted with stainless steel Miele appliances.

Sotheby’s International Realty Canada

Professional designer Sheila Britton took an active role in the layout of this 1,070-square-foot penthouse right from the construction phase. The ceiling is ten feet high and the windows extend top to bottom. The balcony is equipped with a gas line and has wood decking.

The living room has an electric fireplace and the kitchen is outfitted with stainless steel Miele appliances. There are three bathrooms.

The living room has 10-feet high ceiling and an electric fireplace.

Sotheby’s International Realty Canada

The unit also comes with a gated, two-car parking area with two storage lockers.

Monthly fees of $818 pay for concierge and recreational amenities.

The agent’s take

The balcony has wood decking.

Sotheby’s International Realty Canada

“Because this was done by an interior designer, it showed to perfection,” said Mr. Maranger.

“Penthouses are generally massive, but this was not, and it has two big balconies west-facing… so you can see all the way to Mississauga.”

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