Price cuts finally sell Yorkville condo

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10 Bellair St., No. 406, Toronto

Asking price: $3,295,000

Selling price: $3,250,000

Previous selling price: $2,525,000 (2009); $1,465,420 (2003)

Taxes: $16,457 (2019)

Days on the market: Three

Listing agents: Dino Capocci and Lauretta Stewart, Royal LePage Real Estate Services Ltd.

The action

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Earlier this year, this two-bedroom-plus-den corner suite was one of two properties listed in the upper $3-million range at No. 10 Bellair. To gain a competitive edge, the price was dropped from $3.9-million to $3.495-million and then relisted at $3.295-million in mid-July.

“Driving up the market was usually foreigners who decided to buy and pay top dollar to get in. But when you leave it to locals … they’re going to think twice about spending $3-million on a condo,” agent Dino Capocci says.

“A unit had sold three months prior for a higher price per square foot, so we tried to follow suit, but saw the market wasn’t there. So we did some price reductions.”

What they got

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In a nearly 20-year-old high-rise with luxury retailers at street level, this 3,000-square-foot unit feels even larger with 9½-foot ceilings, full-height windows and two balconies overlooking the Village of Yorkville Park.

Entertaining areas are clearly defined with French doors to a den and a gas fireplace in the living room. There is a formal dining area and a casual breakfast nook off the kitchen.

There are three bathrooms, a laundry room, a storage locker and two-car parking.

The agent’s take

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“It’s a big unit,” Mr. Capocci said. “[Plus] the unit was beautiful with high-end finishes, high ceilings, two balconies, herringbone hardwood flooring and crown mouldings.”

Though monthly fees are steep at $3,105, but pay for more than utilities. “The amenities are one of the best in Yorkville and it’s a well-built building by Tridel,” Mr. Capocci said.

“They have second-to-none concierge and valet services, and a to-die-for pool, gym, courtyard, amazing guest suites and party room.”

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