Sale of the Week: the $5.9-million home that proves mansions can be tough to sell
Address: 98 Old Colony Road
Neighbourhood: St. Andrew-Windfields
Agent: Mark Aliassa , Harvey Kalles Real Estate Ltd., Brokerage
The Property: This 14,000-square-foot home has its own gym and squash courts, home theatre, indoor pool and wine room. Its ornate design distinguishes it from neighbouring cookie-cutter mansions, and—Clue fans take note—it even has secret rooms and passageways that connect otherwise inaccessible parts of the house.
The History: The seller, a prominent figure in Canada’s tech industry, hired a developer to build the mansion in 2006. It replaced a bungalow erected on the site in the ’50s or ’60s.
The Fate: The buyers are a younger couple who were attracted to the property’s many amenities.
The Sale: The property was originally put on the market, last year, for $7.9 million. It dropped in price to $6.395 million in February. In August, a new selling agent priced it at $6 million and used what he describes as an “aggressive” mix of local and international marketing to lure buyers. Of three offers, two came from overseas, but the winner was a local. The agent represented both parties, resulting in a double-ended deal that made for a smoother sale.
By the Numbers:
• $5,900,000
• 14,000 square feet, approximately
• 98 per cent of list price
• 79 days on the market, this time around
• 8 years old
• 5 washrooms
• 2+2 bedrooms
• 3 attempts to sell
• 3 offers
• 3-car attached garage
• 2 price changes
• 0.75 acres
299208 The house looks modest from this angle. It's anything but. Sale of the Week: 98 Old Colony Road Sale of the Week: 98 Old Colony Road https://torontolife.com/wp-content/uploads/2014/11/toronto-sale-of-the-week-98-old-colony-road-1-200x200.jpg https://torontolife.com/wp-content/uploads/2014/11/toronto-sale-of-the-week-98-old-colony-road-1.jpg https://torontolife.com/wp-content/uploads/2014/11/toronto-sale-of-the-week-98-old-colony-road-1.jpg 1000 667 [] https://torontolife.com/real-estate/sale-of-the-week-98-old-colony-road/slide/toronto-sale-of-the-week-98-old-colony-road-1/ toronto-sale-of-the-week-98-old-colony-road-1 0 0
299209 Most of the main living spaces (including the master bedroom) are on the main floor. Here's the family room. Sale of the Week: 98 Old Colony Road Sale of the Week: 98 Old Colony Road https://torontolife.com/wp-content/uploads/2014/11/toronto-sale-of-the-week-98-old-colony-road-2-200x200.jpg https://torontolife.com/wp-content/uploads/2014/11/toronto-sale-of-the-week-98-old-colony-road-2.jpg https://torontolife.com/wp-content/uploads/2014/11/toronto-sale-of-the-week-98-old-colony-road-2.jpg 1000 667 [] https://torontolife.com/real-estate/sale-of-the-week-98-old-colony-road/slide/toronto-sale-of-the-week-98-old-colony-road-2/ toronto-sale-of-the-week-98-old-colony-road-2 0 0
299210 The kitchen has a spacious eat-in area. Sale of the Week: 98 Old Colony Road Sale of the Week: 98 Old Colony Road https://torontolife.com/wp-content/uploads/2014/11/toronto-sale-of-the-week-98-old-colony-road-3-200x200.jpg https://torontolife.com/wp-content/uploads/2014/11/toronto-sale-of-the-week-98-old-colony-road-3.jpg https://torontolife.com/wp-content/uploads/2014/11/toronto-sale-of-the-week-98-old-colony-road-3.jpg 1000 667 [] https://torontolife.com/real-estate/sale-of-the-week-98-old-colony-road/slide/toronto-sale-of-the-week-98-old-colony-road-3/ toronto-sale-of-the-week-98-old-colony-road-3 0 0
299211 A closer look at the kitchen. Sale of the Week: 98 Old Colony Road Sale of the Week: 98 Old Colony Road https://torontolife.com/wp-content/uploads/2014/11/toronto-sale-of-the-week-98-old-colony-road-4-200x200.jpg https://torontolife.com/wp-content/uploads/2014/11/toronto-sale-of-the-week-98-old-colony-road-4.jpg https://torontolife.com/wp-content/uploads/2014/11/toronto-sale-of-the-week-98-old-colony-road-4.jpg 1000 667 [] https://torontolife.com/real-estate/sale-of-the-week-98-old-colony-road/slide/toronto-sale-of-the-week-98-old-colony-road-4/ toronto-sale-of-the-week-98-old-colony-road-4 0 0
299212 The dining room could seat a baseball team. Sale of the Week: 98 Old Colony Road Sale of the Week: 98 Old Colony Road https://torontolife.com/wp-content/uploads/2014/11/toronto-sale-of-the-week-98-old-colony-road-5-200x200.jpg https://torontolife.com/wp-content/uploads/2014/11/toronto-sale-of-the-week-98-old-colony-road-5.jpg https://torontolife.com/wp-content/uploads/2014/11/toronto-sale-of-the-week-98-old-colony-road-5.jpg 1000 667 [] https://torontolife.com/real-estate/sale-of-the-week-98-old-colony-road/slide/toronto-sale-of-the-week-98-old-colony-road-5/ toronto-sale-of-the-week-98-old-colony-road-5 0 0
299213 The office has its own fireplace. Sale of the Week: 98 Old Colony Road Sale of the Week: 98 Old Colony Road https://torontolife.com/wp-content/uploads/2014/11/toronto-sale-of-the-week-98-old-colony-road-6-200x200.jpg https://torontolife.com/wp-content/uploads/2014/11/toronto-sale-of-the-week-98-old-colony-road-6.jpg https://torontolife.com/wp-content/uploads/2014/11/toronto-sale-of-the-week-98-old-colony-road-6.jpg 1000 667 [] https://torontolife.com/real-estate/sale-of-the-week-98-old-colony-road/slide/toronto-sale-of-the-week-98-old-colony-road-6/ toronto-sale-of-the-week-98-old-colony-road-6 0 0
299214 This room, which projects out onto the terrace, is listed on the floor plan as a spare bedroom, but it makes a nice den, too. Sale of the Week: 98 Old Colony Road Sale of the Week: 98 Old Colony Road https://torontolife.com/wp-content/uploads/2014/11/toronto-sale-of-the-week-98-old-colony-road-7-200x200.jpg https://torontolife.com/wp-content/uploads/2014/11/toronto-sale-of-the-week-98-old-colony-road-7.jpg https://torontolife.com/wp-content/uploads/2014/11/toronto-sale-of-the-week-98-old-colony-road-7.jpg 1000 667 [] https://torontolife.com/real-estate/sale-of-the-week-98-old-colony-road/slide/toronto-sale-of-the-week-98-old-colony-road-7/ toronto-sale-of-the-week-98-old-colony-road-7 0 0
299215 The buyer might want to get that wallpaper checked. It seems to be spreading. Sale of the Week: 98 Old Colony Road Sale of the Week: 98 Old Colony Road https://torontolife.com/wp-content/uploads/2014/11/toronto-sale-of-the-week-98-old-colony-road-8-200x200.jpg https://torontolife.com/wp-content/uploads/2014/11/toronto-sale-of-the-week-98-old-colony-road-8.jpg https://torontolife.com/wp-content/uploads/2014/11/toronto-sale-of-the-week-98-old-colony-road-8.jpg 1000 667 [] https://torontolife.com/real-estate/sale-of-the-week-98-old-colony-road/slide/toronto-sale-of-the-week-98-old-colony-road-8/ toronto-sale-of-the-week-98-old-colony-road-8 0 0
299216 What living room would be complete without a grand piano? Sale of the Week: 98 Old Colony Road Sale of the Week: 98 Old Colony Road https://torontolife.com/wp-content/uploads/2014/11/toronto-sale-of-the-week-98-old-colony-road-9-200x200.jpg https://torontolife.com/wp-content/uploads/2014/11/toronto-sale-of-the-week-98-old-colony-road-9.jpg https://torontolife.com/wp-content/uploads/2014/11/toronto-sale-of-the-week-98-old-colony-road-9.jpg 1000 667 [] https://torontolife.com/real-estate/sale-of-the-week-98-old-colony-road/slide/toronto-sale-of-the-week-98-old-colony-road-9/ toronto-sale-of-the-week-98-old-colony-road-9 0 0
299217 The master suite includes two walk-in closets and a giant en suite washroom. Sale of the Week: 98 Old Colony Road Sale of the Week: 98 Old Colony Road https://torontolife.com/wp-content/uploads/2014/11/toronto-sale-of-the-week-98-old-colony-road-10-200x200.jpg https://torontolife.com/wp-content/uploads/2014/11/toronto-sale-of-the-week-98-old-colony-road-10.jpg https://torontolife.com/wp-content/uploads/2014/11/toronto-sale-of-the-week-98-old-colony-road-10.jpg 1000 667 [] https://torontolife.com/real-estate/sale-of-the-week-98-old-colony-road/slide/toronto-sale-of-the-week-98-old-colony-road-10/ toronto-sale-of-the-week-98-old-colony-road-10 0 0
299218 Here's one of the walk-in closets. Sale of the Week: 98 Old Colony Road Sale of the Week: 98 Old Colony Road https://torontolife.com/wp-content/uploads/2014/11/toronto-sale-of-the-week-98-old-colony-road-11-200x200.jpg https://torontolife.com/wp-content/uploads/2014/11/toronto-sale-of-the-week-98-old-colony-road-11.jpg https://torontolife.com/wp-content/uploads/2014/11/toronto-sale-of-the-week-98-old-colony-road-11.jpg 1000 667 [] https://torontolife.com/real-estate/sale-of-the-week-98-old-colony-road/slide/toronto-sale-of-the-week-98-old-colony-road-11/ toronto-sale-of-the-week-98-old-colony-road-11 0 0
299219 And yes, this room, larger than some starter condos, is the master washroom. Sale of the Week: 98 Old Colony Road Sale of the Week: 98 Old Colony Road https://torontolife.com/wp-content/uploads/2014/11/toronto-sale-of-the-week-98-old-colony-road-12-200x200.jpg https://torontolife.com/wp-content/uploads/2014/11/toronto-sale-of-the-week-98-old-colony-road-12.jpg https://torontolife.com/wp-content/uploads/2014/11/toronto-sale-of-the-week-98-old-colony-road-12.jpg 1000 667 [] https://torontolife.com/real-estate/sale-of-the-week-98-old-colony-road/slide/toronto-sale-of-the-week-98-old-colony-road-12/ toronto-sale-of-the-week-98-old-colony-road-12 0 0
299220 The grand staircase has built-in shelving. Sale of the Week: 98 Old Colony Road Sale of the Week: 98 Old Colony Road https://torontolife.com/wp-content/uploads/2014/11/toronto-sale-of-the-week-98-old-colony-road-13-200x200.jpg https://torontolife.com/wp-content/uploads/2014/11/toronto-sale-of-the-week-98-old-colony-road-13.jpg https://torontolife.com/wp-content/uploads/2014/11/toronto-sale-of-the-week-98-old-colony-road-13.jpg 1000 667 [] https://torontolife.com/real-estate/sale-of-the-week-98-old-colony-road/slide/toronto-sale-of-the-week-98-old-colony-road-13/ toronto-sale-of-the-week-98-old-colony-road-13 0 0
299221 The lower level consists of a rec room, a billiards room, a squash court, a home theatre, a sauna, a wine cellar, an indoor pool, and a "drum room." Also, this exercise area. Sale of the Week: 98 Old Colony Road Sale of the Week: 98 Old Colony Road https://torontolife.com/wp-content/uploads/2014/11/toronto-sale-of-the-week-98-old-colony-road-14-200x200.jpg https://torontolife.com/wp-content/uploads/2014/11/toronto-sale-of-the-week-98-old-colony-road-14.jpg https://torontolife.com/wp-content/uploads/2014/11/toronto-sale-of-the-week-98-old-colony-road-14.jpg 1000 667 [] https://torontolife.com/real-estate/sale-of-the-week-98-old-colony-road/slide/toronto-sale-of-the-week-98-old-colony-road-14/ toronto-sale-of-the-week-98-old-colony-road-14 0 0
299222 The sauna. Sale of the Week: 98 Old Colony Road Sale of the Week: 98 Old Colony Road https://torontolife.com/wp-content/uploads/2014/11/toronto-sale-of-the-week-98-old-colony-road-15-200x200.jpg https://torontolife.com/wp-content/uploads/2014/11/toronto-sale-of-the-week-98-old-colony-road-15.jpg https://torontolife.com/wp-content/uploads/2014/11/toronto-sale-of-the-week-98-old-colony-road-15.jpg 1000 667 [] https://torontolife.com/real-estate/sale-of-the-week-98-old-colony-road/slide/toronto-sale-of-the-week-98-old-colony-road-15/ toronto-sale-of-the-week-98-old-colony-road-15 0 0
299223 Yup, that's a pretty impressive indoor pool. Sale of the Week: 98 Old Colony Road Sale of the Week: 98 Old Colony Road https://torontolife.com/wp-content/uploads/2014/11/toronto-sale-of-the-week-98-old-colony-road-16-200x200.jpg https://torontolife.com/wp-content/uploads/2014/11/toronto-sale-of-the-week-98-old-colony-road-16.jpg https://torontolife.com/wp-content/uploads/2014/11/toronto-sale-of-the-week-98-old-colony-road-16.jpg 1000 667 [] https://torontolife.com/real-estate/sale-of-the-week-98-old-colony-road/slide/toronto-sale-of-the-week-98-old-colony-road-16/ toronto-sale-of-the-week-98-old-colony-road-16 0 0
299224 And here's the terrace. Sale of the Week: 98 Old Colony Road Sale of the Week: 98 Old Colony Road https://torontolife.com/wp-content/uploads/2014/11/toronto-sale-of-the-week-98-old-colony-road-17-200x200.jpg https://torontolife.com/wp-content/uploads/2014/11/toronto-sale-of-the-week-98-old-colony-road-17.jpg https://torontolife.com/wp-content/uploads/2014/11/toronto-sale-of-the-week-98-old-colony-road-17.jpg 1000 667 [] https://torontolife.com/real-estate/sale-of-the-week-98-old-colony-road/slide/toronto-sale-of-the-week-98-old-colony-road-17/ toronto-sale-of-the-week-98-old-colony-road-17 0 0
Great to see the original owners were equal opportunity employers by hiring a blind designer. Was that carpet on the gym floor? Great for absorbing all the sweat.
You’re underselling the decor. It’s so hideous. I’m calling – adult child of owner who wanted to be a ‘designer’.
” WHAT ” – NO ELEVATOR – EITHIER, EH ? HIRE AN INTERIOR DESIGNER AND LET THEM DOLL UP THE WHOLE ESTATE INTO YOUR OWN LIKING – AS I ALWAYS SAY, EH ! OTHER THAN THAT, THAT SWIMMING POOL SOLD ME – I TELL YOU, EH ! GOOD ESTATE HUNTING – YOU ALL ! ! !
In 1992 this would have been a stylish place… but somehow it was build in ’06?