“The buyers were interested in the building because of the location, which is central at College and Yonge,” said Ms. Ravji,
“It was also considered a luxurious building in its day and the amenities are incredible, like the rooftop deck, and the fact the utilities are included in the maintenance fees. There’s so much value.”
Link to original Globe & Mail Article Below
45 Carlton St., No. 712, Toronto
Asking price: $599,999 (July 2023)
Selling price: $741,000 (August 2023)
Taxes: $3,311 (2022)
Days on the market: 12
Listing agents: Elias Ben Knelifa and Munira Ravji, Royal LePage Signature Realty
The Action
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The owners of this roughly 40-year-old suite fixed the damage done by its last tenant, but the unit still called out for a modern makeover. Nearly three dozen visitors toured the 1,300-square-foot space, and four offers to purchase were made, some under and some over the $599,999 asking price.
“Whenever you have a property that needs renovation, people are all over the place with how much to pay because everyone has different tastes to how they would renovate,” said agent Munira Ravji.
“There was another property on the market that sold for $100,000 more, so it was obvious it was just renovations that could bring this up to that point.”
In the end, the buyer, appreciative of its location across from the historic Maple Leaf Gardens arena, paid $741,000.
“The buyers were interested in the building because of the location, which is central at College and Yonge,” said Ms. Ravji,
“It was also considered a luxurious building in its day and the amenities are incredible, like the rooftop deck, and the fact the utilities are included in the maintenance fees. There’s so much value.”
What they got
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This two-bedroom unit has an eat-in kitchen, an open living and dining area, as well as a solarium.
One of two four-piece bathrooms is accessed through the primary bedroom.
The unit comes with parking. Monthly fees of $1,134 pay for concierge and use of a running track, squash court and indoor pool.
The Agents take
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“There are no balconies in this building, so they all have solariums,” Ms. Ravji said.
“The [solariums in the building] all have different layouts,” she said. “This one was the length of half of the unit, so you could walk out into the solarium from each bedroom.”
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