Elli Davis

Done Deals: Pent-Up Demand For Condo On Mink Mile

Pent-Up Demand For Condo On Mink Mile

Special To The Globe And Mail
Published Friday September 15, 2017


ASKING PRICE: $1,950,000

SELLING PRICE: $2-million

TAXES: $9,492 (2017)


LISTING AGENT: Elli Davis, Royal LePage Real Estate Services Ltd.

The Action: The agent specified no hold-back on offers for this three-bedroom unit in a popular high-rise in Yorkville, so one shopper promptly registered an over-asking bid of $2-million in mid-August.

“Even though it’s an older building, it has maintained a great reputation and has been keep up very well,” agent Elli Davis said. There were about 20 tours of the suite over three days.

“There hasn’t been a larger unit for quite a while, so there was some pent-up demand, which is why we had so many showings in just a few days.”

What They Got: The building is well more than 30 years old and is home to retail shops along the so-called Mink Mile, as well as residential suites above, such as this roughly 2,600-square-foot unit.

Capitalizing on the floor-to-ceiling windows are two solariums with entry from the living and dining area and all three bedrooms, including a master suite with a walk-in closet and one of three bathrooms.

Set back by the foyer is an eat-in kitchen with French doors to a family room, as well as storage and laundry rooms.

A locker and parking come with the unit. Utilities and cable are covered by monthly fees of $1,973.

The Agent’s Take: “We have a demand for larger units especially because a lot of people are selling large family homes and this fits the criteria they’re looking for,” Ms. Davis said.

“[Plus] it’s in a great location with access to the subway, 24-hour security, indoor pool, sundeck on the fourth floor, party and exercise rooms, so it’s really a full-service building.”