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Toronto Real Estate Price drop jogs interest in Forest Hill home along Beltline Trail

Bosley Real Estate Ltd.

251 Chaplin Cres., Toronto

Asking price: $4,150,000

Selling price: $4,099,000

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Taxes: $14,220 (2019)

Days on the market: Three

Listing agent: Olena Feoktistova, Bosley Real Estate Ltd.

The action

Built in 2017, 251 Chaplin Cres. in Toronto’s Forest Hill area boasts a wide range of luxury appointments, lots of space, and backs onto a ravine. After two months on the market, the home sold for just under the asking price of $4,150,000.

The Kay Gardner Beltline Park and Trail runs behind this newly-built infill home on a 35-by 120-foot lot, but it failed to attract many buyers to eight open-house events early this spring.

When relisted in May – with the original $4.3-million asking price trimmed by $150,000 – one buyer made a $4.099-million offer that was finalized a few days later.

“In the neighbourhood, there were no sales in the price range between $3.5-million up to $5-million,” agent Olena Feoktistova said.

“It was a strange spring market this year, it was not typical, mostly due to weather conditions … and we still have cold weather, so people didn’t show up as much as we expected.”

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What they got

A glass-encased fireplace sits at the heart of the open living and dining area.

Bosley Real Estate Ltd.

This 3,112-square-foot residence was built with luxury in mind, with a limestone façade and inside a striking glass-encased fireplace and a floor-to-ceiling wine fridge in the living and dining areas.

Casual entertaining areas on the main and lower levels both have fireplaces. Double doors lead to a south-facing deck and patio.

Three bedrooms have Juliet balconies and the master bedroom has his-and-her closets and a six-piece ensuite, which includes a freestanding tub and a shower stall.

The agent’s take

The master bedroom's ensuite features a freestanding tub.

Bosley Real Estate Ltd.

“In the past year, we had only two sales of new builds backing onto the Kay Gardner trail, so they are very rarely found,” Ms. Feoktistova said.

“[This one] was designed by Tomas Pearce, so it had a lot of attention to detail and a convenient layout, especially on the first floor.”

Room proportions were also generous. “There were up to 14-foot ceilings,” Ms. Feoktistova said.

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