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Real Estate With freeholds pricey, this St. James Town townhouse provided alternative

150 HOMEWOOD AVE., NO. L 102, TORONTO

ASKING PRICE $607,750

SELLING PRICE $599,000

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TAXES $3,052 (2013)

DAYS ON THE MARKET 16

LISTING AGENTS Christopher Bibby and Beth Sulman, Sutton Group Associates Realty Inc.

The Action: In St. James Town, maintenance-free townhouses are difficult to acquire, making this condominium townhouse an attractive commodity courted in person by three dozen buyers late this summer.

What They Got: At the base of a relatively new highrise is a low-rise wing containing two-storey units, like this nearly 1,200-square-foot corner suite with a fenced-in patio and entrance into a two-storey solarium overlooking an eat-in kitchen and living and dining areas with hardwood floors.

The previous owner converted the original two-bedroom plan upstairs for two open dens and a master suite with a walk-in closet, larger of two bathrooms and laundry facilities.

Rounding out the package is parking and monthly fees of $617 to cover water and heating, as well as concierge, guest suites, games and fitness rooms located in an adjacent building, 500 Sherbourne.

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The Agent's Take: "It's a very small complex and there's a very limited number of ground-floor units there, maybe less than 10, so it's a very unique space," agent Christopher Bibby says.

"[Plus] this is a corner unit, so there were only three others, and this was the largest layout for that particular plan of all the ground-floor units."

Direct access to amenities was another highlight. "A lot of the other ones you could only access the unit from outside, whereas ours you could actually access it from inside and outside the building," Mr. Bibby explains.

"All the people coming by our place were typically priced out of freeholds, so this was a great alternative, but the good thing is that they also have access to all the amenities in the high-rise tower in behind."

Editor's note: Done Deals contain information gathered from real estate agents, home buyers, home sellers and sale prices that are publicly available from government sources. While we try to publish Done Deals as soon as possible after the transaction has occurred, long closings can cause delays.

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