Condo of the Week: $550,000 for a Pan Am penthouse with a party terrace

Condo of the Week: $550,000 for a Pan Am penthouse with a party terrace


Address: 47 Lower River Street, PH31
Neighbourhood: Waterfront Communities-The Island
Agents: Deirdra M. Johnson and Marilyn J. Moore, Real Estate Homeward, Brokerage
Price: $549,000

The Place: This penthouse was meant to have two bedrooms, but the original owner only had one of them built. As a result, the unit has a spacious living-dining-kitchen area, bathed in loads of light from a 50-foot wall of windows. The building is located in the West Don Lands, just a javelin toss away from the Pan Am Games Athletes’ Village, where 10,000 of the western hemisphere’s fittest people will bunk in July. We featured another of 47 River Street’s penthouses last year.

Bragging Rights: The suite is on the top floor of a building in River City, a three-phase development full of black cladding and odd angles. Among the complex’s accolades: the Building Industry and Land Development Association’s Best Design award, in 2010.

Big Selling Point: At 826 square feet, the terrace has almost as much living space as the unit’s interior. Just picture the Pan Am party possibilities.

Possible Deal Breaker: Look down and you see cars on the DVP off-ramp. Look up and you see the building next door. That’s not an ideal view. Still, those willing to embrace the density will find plenty to do nearby. The off-ramp, for example, shelters Underpass Park, popular with toddlers and skateboarders alike. Just beyond that is Corktown Common, with its chirping birds and hidden benches. The Distillery District is close, too.

By the Numbers:

• $549,000
• $414 in monthly maintenance fees
• 846 square feet of indoor space
• 826 square feet of outdoor space
• 1 bedroom
• 2 washrooms
• 50 feet of east-facing windows
• 1 parking spot