MAC founder Frank Toskan is selling a Yorkville penthouse
Frank Toskan became an early-nineties Toronto success story when MAC, the cosmetics company he co-founded, became the makeup brand of choice for the likes of Madonna and Naomi Campbell. He sold his share of the company to Estée Lauder in 1998—and, to judge by his real estate portfolio, he made out well on the deal. Aside from his Forest Hill mansion, which he has been trying to sell for at least two years, he also holds title to a penthouse suite at 88 Davenport Road, which was listed for sale at the beginning of the month, for $7,888,000.
The 4,000-square-foot, three-bedroom suite is in the Florian, a high rise at the intersection of Davenport and Bay. It has herringbone floors and a central two-sided gas fireplace. Floor-to-ceiling windows admit plenty of natural light. Toskan’s agent, Elise Kalles, didn’t respond to requests for comment, but her office said on Friday that there was a conditional offer on the property. For now, the listing is still active.
Toskan’s mother, Ersilia, originally closed on the unit in 2015, for $5.8 million. Toskan’s name appeared on title a year later. Even taking sales tax and transaction costs into consideration, the Toskans stand to realize a tidy profit if the property sells for anything approaching the asking price.