224 King St. W., No. 2902, Toronto
Asking price: $500,000
Selling price: $620,000
Previous selling price: $255,133 (2015)
Taxes: $1,998 (2019)
Days on the market: Eight
Listing agent: Alex Moloney, Right at Home Realty Inc.
Across from Roy Thomson Hall, one-bedroom suites at Theatre Park sold for $568,000 and $590,000 in June and July respectively. Months passed before a similar model – this 450-square-foot unit – was again available for sale and 140 potential buyers toured the property prior to the scheduled offer night early December.
“I sold the exact same plan a few months before – listed it low, held back offers and had multiple offers – so I saw the demand for that size, price point and location,” agent Alex Moloney said of the unit that sold for $568,000 to one of eight bidders.
“[For this unit], just the amount of showings we had was an indication I could expect more offers than we had before. But I wasn’t expecting 17.”
What they got
About five years ago, Lamb Development Corp. constructed a 47-storey tower with ultra-modern suites, such as this one-bedroom unit with exposed concrete finishes and nine-foot ceilings, as well as walls of windows and sliding doors to a 132-square-foot terrace with a gas hookup.
Frosted sliding doors separate the bedroom from entertaining quarters outfitted with two-toned kitchen cabinetry, quartz counters and upscale appliances, including a gas stove.
Monthly fees of $292 are allocated for water, heating, 24-hour concierge and common area upkeep.
The agent’s take
“The quality of finishes are higher end in terms of the appliances, kitchen and countertops, and the amenities in the building as well with the pool and gym,” Mr. Moloney said.
“And the location is one of the best things it has going for it because it’s right near the subway, and close to the Financial District and Theatre District.”
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