Sale of the Week: the $380,000 condo that proves Regent Park’s revitalization has started to take effect
Address: 260 Sackville Street, Unit 1103
Neighbourhood: Regent Park
Agent: Lamis Dantas, Anne Lok and David B. Rodgers, Homelife Realty One Inc., Brokerage
The Property: This two-bedroom unit in the One Park West building rises over Regent Park’s eponymous six-acre green space. It features large living and dining rooms, plus two balconies facing northwest.
The History: The city-backed Regent Park revitalization began in 2005. Its goal was to transform what used to be a vast social-housing project into a mixed-income community. In the past few years, the area has acquired new neighbourhood amenities, like brand-new aquatic and arts centres. The sellers of this unit, a pair of empty-nesters, bought in prior to the building’s completion in 2011.
The Fate: In the next phase of the revitalization project, the area will gain new athletic facilities and a community centre. These enhancements are part of the reason agents say Regent Park condos are experiencing some of the fastest value growth in the city. None of the planned development will obstruct this unit’s city views.
The Sale: Despite the facelift, the stigma of Regent Park’s checkered past was a deterrent to some potential buyers, one of the selling agents says. Nonetheless, people are increasingly drawn to the area for its high value per square foot. In the case of the buyers, first-time homeowners with plans to start a family, a parking spot and locker included in the price further sweetened the sale. The unit received two offers.
By the Numbers:
• $380,000
• 743 square feet
• 99 per cent of list price
• 17 days on the market
• 6-acre park
• 4 years old
• 2 bedrooms
• 1 washroom
• 1 parking spot
• 1 locker
- 304268
- The building is right in the middle of Regent Park's ongoing revitalization.
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- 1200
- 800
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- For under $400,000, the place is slightly more spacious than expected.
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- 1200
- 800
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- Here's the kitchen.
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- 1200
- 800
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- And the view of the kitchen from the dining area.
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- 1200
- 800
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- This small second bedroom is being used as an office.
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- 1200
- 800
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- The washroom.
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- 1200
- 800
- https://torontolife.com/real-estate/sale-week-380000-condo-proves-regent-parks-revitalization-started-take-effect/slide/toronto-sale-of-the-week-260-sackville-street-6/
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- The master bedroom is a little tight, but that closet is definitely a good size.
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- 1200
- 800
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- The unit has two balconies. This is one.
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- 1200
- 800
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Address: 260 Sackville Street, Unit 1103
Neighbourhood: Regent Park
Agent: Lamis Dantas, Anne Lok and David B. Rodgers, Homelife Realty One Inc., Brokerage
The Property: This two-bedroom unit in the One Park West building rises over Regent Park’s eponymous six-acre green space. It features large living and dining rooms, plus two balconies facing northwest.
The History: The city-backed Regent Park revitalization began in 2005. Its goal was to transform what used to be a vast social-housing project into a mixed-income community. In the past few years, the area has acquired new neighbourhood amenities, like brand-new aquatic and arts centres. The sellers of this unit, a pair of empty-nesters, bought in prior to the building's completion in 2011.
The Fate: In the next phase of the revitalization project, the area will gain new athletic facilities and a community centre. These enhancements are part of the reason agents say Regent Park condos are experiencing some of the fastest value growth in the city. None of the planned development will obstruct this unit's city views.
The Sale: Despite the facelift, the stigma of Regent Park’s checkered past was a deterrent to some potential buyers, one of the selling agents says. Nonetheless, people are increasingly drawn to the area for its high value per square foot. In the case of the buyers, first-time homeowners with plans to start a family, a parking spot and locker included in the price further sweetened the sale. The unit received two offers.
By the Numbers:
• $380,000
• 743 square feet
• 99 per cent of list price
• 17 days on the market
• 6-acre park
• 4 years old
• 2 bedrooms
• 1 washroom
• 1 parking spot
• 1 locker
[gallery columns="6" ids="304268,304269,304270,304272,304273,304274,304275,304276"]){kind=link}
Any idea what it sold for originally?
Hi Mike,
It really depends when the unit was bought. The price this condo sold for is typically the price you would get the unit for if you bought it from the developer. It’s likely the seller bought the unit a few years ago and is potentially gaining some profit from this sale (when the original price of the condo was much lower – most likely in the mid $300’s).
Hence my question, “any idea what it originally sold for”. I know the previous price that the condo sold for was the price paid when they bought it from the original seller. I’m interested in that price.
The headline talks about the revitalization taking effect but gives no proof of that. If the condo was selling at a price that returned above or at the rate of return for condo’s in the rest of the city then the point is made. However just saying that a condo in Regent Park sold so the revitalisation must be working isn’t factual.
Also, Toronto Life, stop using American spell check.