Stylish downtown Toronto condo has no visitors for weeks, rebounds with under-asking offer

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333 Adelaide St., E., No. 712, Toronto

Asking price: $549,900 (November, 2020)

Selling price: $540,000 (December, 2020)

Taxes: $1,973 (2020)

Days on the market: 21

Listing agent: Kimmé Myles, Sotheby’s International Realty Canada

The action

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This one-bedroom unit at the Mozo building had a recent makeover, but not a single person asked to see it two weeks after its launch. The third week was markedly different with a flurry of visitors and a solid $540,000 bid.

“There were a lot of listings that were on the market for 89 or 59 days, so we did quite well in terms of time on market and price, but I had faith in what we were dealing with,” agent Kimmé Myles said.

“It showed beautifully, and it was gorgeous, but there was a lot of inventory and buyers were certainly taking their sweet time.”

What they got

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This 614-square-foot suite had a loft-like design, with an exposed concrete ceiling and an open principal room with a wall of windows and sliding doors to a Juliet balcony.

The four-piece bathroom was recently remodeled and laminate plank flooring was laid throughout. A quartz-topped kitchen island, tile backsplashes and high-end appliances were also installed.

Monthly fees of $344 cover the cost of water, heating and concierge service, as well as use of the gym and party room.

The agent’s take

“[The seller] had done everything to the nines,” Ms. Myles said.

“[Plus], you could look out and see heritage buildings, like St. James Cathedral, so it is a great area. And you could walk to the King East Design District, St. Lawrence Market or further east to the Distillery or west to the Eaton Centre.”

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