52 Sumach St., No. 307, Toronto
Asking price: $679,000 (August, 2020)
Previous asking price: $698,000 (July, 2020)
Selling price: $679,000 (August, 2020)
Previous selling price: $315,795 (2011)
Taxes: $2,459 (2020)
Days on the market: One
Listing agent: Robin Pope, Pope Real Estate Ltd.
This 665-square-foot unit with parking had one offer when it was listed for nearly two-months early this summer. That deal eventually dissolved, so the property went back on the market. After seeing another, larger unit in the same building take a markdown, the unit was repriced at $679,000.
“What spurred our client to drop the price was the [other homeowner] dropped their price,” agent Robin Pope said. “But they were bigger and without parking.
“Based on our original ask, the [comparables] supported it, but when you drop it another $19,000 like we did, it was just that much more attractive.”
What they got
This one-bedroom suite was built about 10 years ago and designed with loft-like characteristics, such as 10-foot ceilings, concrete flooring and multi-pane windows.
There’s a balcony off the open principal room and a walk-in closet in the bedroom. The unit comes with laundry appliances.
Monthly fees of $587 cover the cost of water and heating, and the use of a gym and rooftop garden.
The agent’s take
“The parking space was the clincher, but it was also a lovely apartment,” Mr. Pope said.
“It has 10-foot ceilings, polished concrete floors, and was nice and wide with a big balcony.”
The west-facing views were also surprising from the third-floor unit. “You saw old Victorian houses and you’re in the treetops, and you also have a glimpse of bank towers and the CN Tower,” Mr. Pope said.
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