Condo of the Week: $600,000 for a two-bedroom suite in a once-controversial Queen West building

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Published on: April 29, 2016

Address: 1169 Queen West, PH 720
Neighbourhood: Little Portugal
Agent: Alexander James Wilson, Re/Max Condos Plus Corp., Brokerage
Price: $600,000

The place: A two-bedroom, two-storey penthouse in a five-year-old building.

The history: A decade ago, developers dubbed this project the Bohemian Embassy, in a bid to take advantage of Queen West’s resurgent hipness. Local artist Michael Toke nicknamed the place the “Bohemian Embarrassment.” The name stuck. Sensing a deal, real estate agent Alex Wilson grabbed a penthouse in the building. Now he’s moving on to a bigger space in the same neighbourhood.

Big selling point: The asking price is reasonable for a two-bedroom place in such a sought-after area. Two-bedroom units of similar size in other buildings go for well into the $700,000s.

Possible deal breaker: The lower price is partly offset by the maintenance fees, which are over $700 a month. Wilson points out that the money does, at least, contribute to a healthy reserve fund. It also covers some fun amenities, including party areas, an arts and crafts room and bike storage.

By the numbers:

• $600,000
• 1,010 square feet
• $722 in monthly maintenance fees
• 100-square-foot terrace
• 2 bedrooms
• 2 bathrooms
• 1 parking space

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The living areas are on the main floor. The owner carved out a small “office nook” with built-in shelving, visible just behind the dining table.

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Here’s the reverse view.

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The kitchen has Caesarstone countertops.

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Both bedrooms are on the upper floor. This bedroom is being used as an office.

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And here’s the main bathroom.

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The master bedroom.

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The master ensuite has a glass-enclosed shower.

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Barbecuing is allowed, but the buyer will probably need a pretty skinny grill.

More Condos of the Week

Article source: http://torontolife.com/real-estate/condos/toronto-condo-for-sale-1169-queen-street-west/

Former Barrick Gold director sells his Rosedale condo for $3.85 million

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Published on: April 28, 2016

(Image: Google Street View)

Howard Beck, a Barrick Gold director since 1984, who left the company amid a leadership shakeup in 2014, seems to have put some of that mining money to good use. He just sold one of the luxest condos in Rosedale. The 3,900-square-foot unit, with an additional 1,800 square feet on the lower level, occupies the entire main floor of a converted mansion at the corner of Chestnut Park Road and Roxborough Street East. It’s one of only three suites in the building. (There’s a fourth unit in a separate coach house, which we featured earlier this week.) It has three bedrooms, four bathrooms, a large kitchen and a library. The maintenance fees alone are almost $2,500—which, relative to the size of the space, is actually pretty reasonable.

The property was listed in February for $4,500,000—a steep price for a one-third share in a house. But this is Rosedale, so the place did find a buyer. On Friday, it went for $3,850,000, or $650,000 under asking.

It’s not unusual for condos of this stature to struggle on the market. According to a recent Sotheby’s Canada report, there were only 34 Toronto condo sales in the $3-to-$4-million price range in the last six months of 2015. Only a quarter of those went for over list price.

Although the Becks didn’t get the amount they were looking for, they may have managed to turn a profit: in 2011, their purchase price was $3.6 million.

Article source: http://torontolife.com/real-estate/condos/former-barrick-gold-director-sells-his-rosedale-condo-for-3-85-million/

House of the Week: $1.2 million for an extra-wide Victorian semi in Moss Park

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Published on: April 27, 2016

Address: 344 Berkeley Street
Neighbourhood: Moss Park
Agent: Vincci Kumabe, Realosophy Realty Inc., Brokerage
Price: $1,190,000

The place: A Victorian-era home in Moss Park with an inviting front porch.

The history: This 1875 bay-and-gable-style home is typical of the time period. A previous owner renovated the interior in 2009, which helped modernize the space.

Big selling point: There’s a certain grandeur in the front-facing living room, with its bay window that overlooks the garden and spacious front porch. At a glance, it’s easy to imagine the lives of the home’s first owners back in the late 1800s. For the more pragmatic buyer, the home’s 24.75-foot lot gives it a little more horizontal space than the average semi-detached in this part of the city.

Possible deal breaker: The half-finished basement is not exactly Versailles, but with some insulation, drywall and a few coats of paint, the buyers could probably add an extra bedroom.

By the numbers:

• $1,190,000
• $5,465.25 in taxes (2015)
• 1,956 square feet (plus 1,069 square feet below grade)
• 24.75-by-122-foot lot
• 141 years old
• 3 bedrooms
• 3 bathrooms
• 2 parking spaces
• 1 fireplace

(Image: Dave Rempel)
(Image: Dave Rempel)

The covered porch has a little space for seating.

(Image: Dave Rempel)
(Image: Dave Rempel)

The house is over a century old, but the interior was refreshed in 2009.

(Image: Dave Rempel)
(Image: Dave Rempel)

The ground-floor layout is still fairly Victorian, with separate living and dining rooms and a kitchen at the back of the house.

(Image: Dave Rempel)
(Image: Dave Rempel)

Here’s the dining room.

(Image: Dave Rempel)
(Image: Dave Rempel)

The kitchen.

(Image: Dave Rempel)
(Image: Dave Rempel)

And, at the very back of the house, there’s a family room with a door to the backyard.

(Image: Dave Rempel)
(Image: Dave Rempel)

There are three bedrooms on the second floor.

(Image: Dave Rempel)
(Image: Dave Rempel)

Wall-to-wall carpeting in older homes is underrated, as anyone who has ever tried to keep a wood floor dust-free can attest.

(Image: Dave Rempel)
(Image: Dave Rempel)

This bedroom is being used as an office.

(Image: Dave Rempel)
(Image: Dave Rempel)

The master bedroom, which looks out over the front yard.

(Image: Dave Rempel)
(Image: Dave Rempel)

The master bedroom’s ensuite bathroom.

(Image: Dave Rempel)
(Image: Dave Rempel)

The basement is finished, but could probably use some sprucing up.

(Image: Dave Rempel)
(Image: Dave Rempel)

And here’s the backyard.

More Houses of the Week

Article source: http://torontolife.com/real-estate/houses/toronto-house-for-sale-344-berkeley-street/

Sale of the Week: The $3.8-million coach house that shows the allure of a unique property

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Published on: April 25, 2016

Address: 1 Chestnut Park Road

Neighbourhood: Rosedale

Agent: Kate Ryley, Blue Elephant Realty

The property: One of four units in a restored Rosedale mansion. This renovated coach house—which is physically separate from the main building, but still part of the same condo corporation—has four private terraces, two master bedrooms and a private elevator.

The history: The selling agent says her client bought the coach house in 2013 because he couldn’t turn down such a unique property. The space ended up being too large for just himself.

The fate: The buyers have the opposite problem: they’re a couple with grown children looking to downsize to a smaller property in the neighbourhood. They fell in love with the coach house because it felt like the perfect compromise between a house and a condo.

The sale: The buyers made a bully offer for $60,000 over asking, which the seller accepted.

By the numbers:

  • $3,810,000
  • $14,239.08 in property taxes (2015)
  • $2,656.31 in monthly maintenance fees
  • 5 days on the market
  • 4 bathrooms
  • 2 bedrooms
  • 2 parking spaces
  • 1 private elevator

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The unit is in a coach house behind this restored, multi-unit mansion.

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The unit has its own elevator, naturally.

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The coach house has two gas fireplaces.

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The kitchen is all decked out in quartzite.

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This den area is on the second floor.

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And here’s the second-floor bedroom.

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The second-floor bedroom’s ensuite bathroom.

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This bedroom has the third floor to itself. It has two walk-in closets.

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And here’s that bedroom’s ensuite bathroom. Interesting choice of shower stool.

Article source: http://torontolife.com/real-estate/houses/toronto-house-sold-1-chestnut-park-road/

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