Sold: a luxury prefab home in Lansing for $1.5 million

Sold: a luxury prefab home in Lansing for $1.5 million

With all the talk of condo bubbles, over-the-top bidding wars and failed flips, wading into Toronto’s housing market requires equal parts bravery and real estate savvy. To help with the latter, we decided to dish when the properties we profile in our House of the Week, Condomonium and Cottage of the Week features are sold. Here, all the details from the latest sale.

• The place: Famed Californian architect Ray Kappe designed Toronto’s first upscale prefabricated home, which overlooks a ravine just north of Sheppard.

• The agents: Christian Vermast, Paul Maranger and Fran Bennett, Sotheby’s International Realty Canada, Brokerage

• Listed price: $1,689,000

• Sale price: $1,525,000

• Time on the market: 71 days

• The buyers: Most of the 18 prospective buyers liked the home’s clean lines, abundant sunlight and ravine setting. The new owners are a professional couple who take possession March 1. Until then, the house is serving as the sales centre for three similar prefab homes being built in the same small enclave.

• The full description: House of the Week: $1.7 million for Toronto’s first luxury prefab home (designed by Ray Kappe, no less) [May 9, 2012]

See photos of the inside »