36 Restwell Cres., Toronto
Asking price: $3.5-million
Selling price: $3,646,276
Taxes: $20,285 (2018)
Days on the market: 39
Listing agent: Bill Thom, Re/Max Realtron Bill Thom Group Realty Inc.
This recently built two-storey house set on a 0.55-acre lot backing onto a ravine was outfitted with upscale finishes, which the sellers felt justified an initial $4,088,000 asking price. About 40 suitors toured the house through late June, but no acceptable offers materialized. Following a $588,000 price drop, shoppers returned over the next several weeks to reconsider the house and several made stronger offers.
“It was priced a bit higher and it didn’t go, so we changed our strategy,” said agent Bill Thom, whose clients rejected some early bids before the price reduction.
“Sometimes when you go low, all of a sudden people realize it’s not a bad price; then we got multiple [bids].”
What they got
With about 4,700 square feet of living space, this house has many luxuries, such as an elevator, six bathrooms, two laundry rooms, a sauna and 10-car parking. The principal rooms have 11-foot heights and are adorned with intricate trim and ceiling treatments. There is a library, living room and dining area, as well as a family room anchored by one of three fireplaces.
For casual gatherings, there is a lower-level home theatre and a recreation area with several exits to the backyard.
On the top floor, all four bedrooms have bathrooms and walk-in closets. The largest also has a double-sided gas fireplace and covered balcony.
The agent’s take
“This is a nice ravine lot,” Mr. Thom said, with lovely views that are hard to come by. “This is a 69-foot lot, which is better than most in that area, [which are] 50 to 60 feet,” Mr. Thom said.
“[Also] the Don River can be seen in the fall, spring and winter too when the leaves are down.”
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