Sale of the Week: the $2.85-million Lawrence Park home that shows just how hot ravine lots can be

The History: The story of this new build is yet to be written. 355 Blythwood was once the site of a rundown “creepy old house” that was demolished by M.A. Homes back in 2011. After digging out the uneven lot to build a foundation, the rest of the house was completed in 10 months. A third floor was nixed by zoning restrictions, hence the high ceilings. The home’s exterior is reminiscent of the classic North Toronto look, but features a modern interior.

The Fate: The buyers are a family seeking to downsize, making this spot—a touch smaller than the average 4,200-square-foot Lawrence Park home—just the right fit. The lot has room for a pool and a pool shed, should the owners want to augment the view and attached garage. For the kids, there are several excellent Toronto schools nearby, including Blythwood, Sunny View, Northern Secondary and various private institutions.

The Sale: A ravine lot is a premium feature in the Toronto market, and its presence here more than makes up for its smaller square footage and location on a busy thoroughfare. The ravine offers privacy, as well as a great view of Sherwood and Blythwood Parks. It should be noted that old realtor’s trick of pricing low to create bidding wars does not produce results for $2-million-plus homes in high-end neighbourhoods such as this one. 355 Blythwood was listed at fair market value.

By the Numbers:

• $2,850,000 • 3,975 square feet • 98 per cent list price • 11 days on market • 10 months to build • 7 bathrooms • 4+1 bedrooms • 4-car parking in drive and attached garage • 2 storeys