Advertisement
Real Estate

Sale of the Week: the $5.9-million home that proves mansions can be tough to sell

toronto-sale-of-the-week-98-old-colony-road-intro

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

Sale of the Week: 98 Old Colony Road
Sale of the Week: 98 Old Colony Road
Sale of the Week: 98 Old Colony Road
Sale of the Week: the $5.9-million home that proves mansions can be tough to sell
Sale of the Week: 98 Old Colony Road
Sale of the Week: 98 Old Colony Road
Sale of the Week: 98 Old Colony Road
Sale of the Week: the $5.9-million home that proves mansions can be tough to sell
Sale of the Week: 98 Old Colony Road
Sale of the Week: 98 Old Colony Road
Sale of the Week: 98 Old Colony Road
Sale of the Week: 98 Old Colony Road
Sale of the Week: 98 Old Colony Road
Sale of the Week: 98 Old Colony Road
Sale of the Week: 98 Old Colony Road
Sale of the Week: 98 Old Colony Road
Sale of the Week: 98 Old Colony Road
Sale of the Week: 98 Old Colony Road
Sale of the Week: 98 Old Colony Road
Sale of the Week: the $5.9-million home that proves mansions can be tough to sell

NEVER MISS A TORONTO LIFE STORY

Sign up for This City, our free newsletter about everything that matters right now in Toronto politics, sports, business, culture, society and more.

By signing up, you agree to our terms of use and privacy policy.
You may unsubscribe at any time.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Advertisement
Advertisement

Big Stories

Quality Trash: Meet director Ron Oliver, Hallmark’s king of schmaltz
Deep Dives

Quality Trash: Meet director Ron Oliver, Hallmark’s king of schmaltz