60 Colborne St., No. 1704, Toronto
Asking price: $1,698,800 (Late November, 2021)
Previous asking price: $1,719,000 (Mid-November, 2021)
Selling price: $1,660,000 (December, 2021)
Previous selling price: $1,203,145 (February, 2019)
Taxes: $6,800 (2021)
Days on the market: 39
Listing agents: Nigel Denham, Robert Nelson and Penny Brown, Sotheby’s International Realty Canada
At the Sixty Colborne high-rise building on the edge of Toronto’s Financial District, the owner of two units put both up for sale on the same day: this three-bedroom corner suite, unit 1704, priced at $1.719-million, and an adjacent two-bedroom corner suite, unit 1705, priced at $1.149-million. The smaller, two-bedroom sold within three days for $1.25-million, but this larger unit proved a harder sell.
“When you’re talking about a roughly $1.7-million property, they can take a bit longer to sell,” agent Nigel Denham said.
“The people who bought 1705, actually looked at 1704 and had the budget for it, but 1705 met their needs,” Mr. Denham said. “So not everyone ends up maxing out their budgets.”
To rekindle interest in 1704, the asking price was shaved by $20,200 at the end of November. Several weeks later an offer of $1.66-million was accepted days before Christmas.
“The timing right before the holidays wasn’t exactly fortuitous, but the seller was in no dire position, so it didn’t matter if it took two weeks or six weeks to sell, as it almost did,” Mr. Denham said.
What they got
This 1,479-square-foot condo is flooded with sunlight with full-height windows. There is a south-facing Juliet balcony off the living room.
The unit also comes with two storage lockers and two-car parking. Monthly fees of $1,434 pay for water, concierge and use of a gym, rooftop deck and pool.
The agent’s take
“It’s a rare and true, three-bedroom unit, so it’s for someone who needed more bedrooms or a dedicated office,” Mr. Denham said.
“It had a powder room, in addition to two full bathrooms and a full-sized pantry in the kitchen for extra storage, which are all hard to find in condos.
“In terms of the calibre of that unit, it basically performed like a house with a maintenance-free lifestyle that comes with a condo.”
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