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Toronto Real Estate Price drop shakes out $3.15-million offer for ravine townhouse

Royal LePage Real Estate Services Ltd.

30 Lower Village Gate, Toronto

Asking price: $3.19-million

Selling price: $3.15-million

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Taxes: $11,235 (2018)

Days on the market: 146

Listing agent: Elli Davis, Royal LePage Real Estate Services Ltd.

The action

With a $3.5-million price tag, the buying pool for this luxury three-bedroom townhouse was fairly shallow, so it was only seen by about 10 buyers after its initial launch onto the market in September. To bring in more buyers, the price was dropped to $3.19-million and new owners were finally found in mid-February.

What they got

This house is nestled against Cedarvale Ravine in a 30-year-old gated community with two low-rise buildings and about 30 townhouses backing onto green space.

Nearly every room of this 2,468-square-foot townhouse offers views of the ravine, including the formal dining room and updated eat-in kitchen. Two entertaining areas, both with wood-burning fireplaces, have exits to a front patio and back deck off the main and lower levels respectively.

On the second floor, a Juliet balcony is set off a master bedroom with walk-in closets and a six-piece ensuite, which is the largest of four bathrooms.

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The 1,228-square-foot basement provides a guest room and access to two-car parking underground.

Monthly fees of $1,372 pay for water, cable and 24-hour gatehouse, plus a gym, party room and outdoor pool.

The agent’s take

“The complex of Lower Village Gate was very unique in that it offers two buildings with condo apartments and also townhomes,” agent Elli Davis said.

“[Residents] enjoy the facilities of the complex … and it’s an easy walk to Forest Hill Village, near the St. Clair subway and big a Loblaws at the corner of St. Clair and Bathurst.”

This unit also has added bonuses. “It was an end unit, so it’s one of the largest units in the complex and it was renovated by the current owner, so it showed very well,” Ms. Davis said.

“And the ravine view from the rear is a very beautiful feature because it’s all trees.”

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