Sale of the Week: the $1.3-million Yorkville condo that proves newer isn’t necessarily better
Address: 175 Cumberland Street, Unit 1101
Neighbourhood: Yorkville
Agent: Elizabeth Prada-Cowan, Royal LePage Real Estate Services Ltd., Brokerage
The Property: A renovated condo in the Renaissance Plaza building. At 1,755 square feet, it’s large enough to accommodate both downsizing empty nesters and couples looking to upgrade from a single bedroom.
The History: The unit, roughly 35 years old, was completely upgraded by its renovator sellers, Fresh Home Innovations. They tore down several walls to open up the layout and replaced the hardwood floors in the living room and kitchen with marble and granite, among other things.
The Fate: Out-of-towners bought the condo. They’ll be living alongside a lot of retirees, who enjoy the building’s conservative look and downtown location.
The Sale: The older building proved a tough sell, but ultimately the quality and scale of the reno won out. Unit 1101 received a single offer in 93 days on the market.
By the Numbers:
• $1,300,000
• 1,755 square feet
• 95 per cent list price
• 93 days on the market
• 35 years old, approximately
• 3 bathrooms
• 2 bedrooms
• 1 assigned parking space
• 1 offer
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- There's a little office area in a nook by the foyer.
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- The unit's renovated interior has a modern look. Those white lines on the walls are actually strips of multicoloured LEDs, which is maybe a little...too modern?
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- It's hard to tell from this picture, but the kitchen is pretty spacious, with big countertops.
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- Here's the living area.
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- And here's a view back through the whole unit.
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- The second bedroom.
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- And the master bedroom.
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Address: 175 Cumberland Street, Unit 1101
Neighbourhood: Yorkville
Agent: Elizabeth Prada-Cowan, Royal LePage Real Estate Services Ltd., Brokerage
The Property: A renovated condo in the Renaissance Plaza building. At 1,755 square feet, it's large enough to accommodate both downsizing empty nesters and couples looking to upgrade from a single bedroom.
The History: The unit, roughly 35 years old, was completely upgraded by its renovator sellers, Fresh Home Innovations. They tore down several walls to open up the layout and replaced the hardwood floors in the living room and kitchen with marble and granite, among other things.
The Fate: Out-of-towners bought the condo. They'll be living alongside a lot of retirees, who enjoy the building's conservative look and downtown location.
The Sale: The older building proved a tough sell, but ultimately the quality and scale of the reno won out. Unit 1101 received a single offer in 93 days on the market.
By the Numbers:
• $1,300,000
• 1,755 square feet
• 95 per cent list price
• 93 days on the market
• 35 years old, approximately
• 3 bathrooms
• 2 bedrooms
• 1 assigned parking space
• 1 offer
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Bring back the hardwood floors!!! The marble and granite are waaay too cold for my taste – especially compared to the bedroom!
I am very pleased to see this suite sell for $1.3M. My client bought a similar suite, with a Southwest view overlooking the ROM, and renovated it nicely as well, and is currently leasing it out. Prime Yorkville location, and if you don’t mind the smaller 8’3″ ceilings, it has a lot to offer on a cost per square foot basis.
A virtual Tour link like Matterport Digital Imaging would have provided some walk thru perspective.
#bythewater
#Toronto
Positively brilliant condo. Only justifies my theory that anything built after 1995 isn’t worth even the raw materials. This was built in an era where luxury condos were built to be LUXURY condos. Not the fishbowl-type units with cheap hardwood flooring and insanely narrow hallways that you see all over the market today.
As much as I love the unit, I do have to say that I find it a bit offputting that the maintenance fees weren’t mentioned. An identical unit is on the MLS, and has fees of about $1,500 per month. Which is within the “typical” parameters at just over $0.85 per square foot. But assuming you put $300,000 down (approx. 20%), you’ll have a mortgage in the ballpark of $5,000 per month, plus $1,500 in maintenance, and taxes will run about $9,000 annually, or about $750 per month.
So, at $7,000 and change per month, this is not going to be a lifestyle that “just anyone” can live. But if you can afford it, perfect location, excellent unit, and terrific investment.