Sale of the Week: The $1.7-million house that shows the economics of a Yorkville fixer-upper
Address: 21 New Street
Agent: Jay Egan, Olga Lapshin, and Shelby Corson, Forest Hill Real Estate Inc., Brokerage
The property: A house-turned-office with laneway access to Hazelton Avenue.
The history: The house was built in 1875 by the chief of the Yorkville Fire Station. A publishing company converted it into an office space 16 years ago. Now, the company’s staff has outgrown the building and they’re moving out.
The fate: The buyer, who works as an architect and interior designer, plans to convert the office back into a home. He wants to maintain the heritage façade while adding more windows in the back. Houses on New Street tend to be less expensive than the ones on the adjacent Hazelton, but the buyer is hoping his renovations will increase the property’s value to around $2.8 million.
The sale: The house sold in one day for the full asking price. The seller, not expecting intense interest in such a niche property—it doesn’t have a full kitchen or showers—was happy to accept. The buyer, meanwhile, was excited to snag a choice property in Yorkville for under $1.7 million.
By the numbers:
- $18,400.87 in taxes (2015)
- 2 bedrooms
- 2 bathrooms
- 2 Juliet balconies
- 1 kitchenette
- 1 day on the market
The downstairs is a workspace, and there’s a meeting room in the rear:
The meeting room at the back of the house:
There are more workspaces upstairs. This one has a Juliet balcony:
Still more workspaces on the lower level:
The kitchenette is on the lower level:
And there’s a coach house in the backyard: