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111 Elizabeth St., No. 706, Toronto


ASKING PRICE: $869,000


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TAXES: $3,577 (2016)


LISTING AGENT: Alina Kholodov, Royal LePage Real Estate Services Ltd., Johnston and Daniel Division

The action : Beginning in August last year, a trickle of about 30 shoppers filed through this two-bedroom-plus-den suite in a high-rise building just north of Toronto's City Hall. With stiff competition from other units in the building and a general slowdown in the market, the sales process was a drawn-out affair, but a buyer finally struck a deal at $30,000 under asking near the end of October.

"We went on the market a little too early in the summer," agent Alina Kholodov said. "So it took some time, but that's not unusual for a larger unit in that building."

What they got: This 982-square-foot unit is fairly original to its condition when the One City Hall project was built about a decade ago. There's a den near the kitchen and bedrooms on opposite sides of an entertaining area and a balcony.

There are two bathrooms and a laundry room, and the unit comes with three storage lockers and parking. Monthly fees of $700 cover water, heating, concierge and the use of two fitness centres, a pool and rooftop terrace.

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The agent's take: "It was one of the only south-facing, two-bedroom and two-bath units, with a very large terrace," Ms. Kholodov said. "The views overlooking City Hall and the large outdoor space were the main selling features of the property."

"The great thing about this particular layout as well is it has a proper den that could be closed, which could be used as an extra bedroom."

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