Pope Real Estate Ltd.
369 Sorauren Ave., No. 508, Toronto
Asking price: $1,595,000
Selling price: $1,539,500
Previous selling price: $1.2-million (2018)
Taxes: $5,312 (2019)
Days on the market: 67
Listing agent: Robin Pope, Pope Real Estate Ltd.
The action
Robin Pope of Pope Real Estate Ltd. says two-storey units like this come on the market 'every couple of years.'Pope Real Estate Ltd.
As a concession to the COVID-19 pandemic, masks and hand sanitizer were provided to visitors of this newly renovated corner penthouse. But the seller – an interior designer – resisted suggestions that she accept a deep discount on the price, holding fast to her asking price for two months. After about 40 interested buyers had inspected the space, she finally agreed to an offer $55,500 below asking.
“Because of COVID, there were a lot of people who thought to make a low-ball [offer],” agent Robin Pope said. “But there was no market data to support that, nor was there any market data to support that it was a buyers’ market.
“It was a lovely property, so I was confident we would find someone, and my client also had lots of time and wasn’t prepared to give it away either.”
What they got
The penthouse has polished concrete floors, 21-foot ceilings and a wraparound balcony facing south.Pope Real Estate Ltd.
The Robert Watson Lofts is actually two buildings; one a former commercial building converted into lofts and the other a newly built structure with loft-like units. This 1,434-square-foot space is in the new building, and has polished concrete floors, 21-foot ceilings and a wraparound balcony facing south.
The seller installed a Scavolini kitchen, renovated the two bathrooms and removed a fireplace between the living and dining areas. The second floor has also divided to create two separate bedrooms.
The unit comes with laundry facilities, a storage locker and parking. Monthly fees of $1,108 pay for water and heating, plus recreation amenities, including a rooftop deck.
The agent’s take
The seller installed a Scavolini kitchen.Pope Real Estate Ltd.
“A [two-storey] unit like this would come on the market every couple of years because this was so big. Most of what comes on the market would be smaller,” Mr. Pope said.
“And because the soft lofts are in the rear building, the views were better, so … it had a sweeping 180-degree view from downtown to all of Roncesvalles.”
Your house is your most valuable asset. We have a weekly Real Estate newsletter to help you stay on top of news on the housing market, mortgages, the latest closings and more. Sign up today.