/
1x
Advertisement
Proudly Canadian, obsessively Toronto. Subscribe to Toronto Life!
Real Estate News

Sale of the Week: The $2.65-million King West condo that took three months to sell

By Jonathan Forani| Photography by Jordan Prussky
Copy link
Sale of the Week: The $2.65-million King West condo that took three months to sell
Listed At
$2,699,000
Sold For
$2,650,000

Address: 55 Stewart Street, Unit 1027 Neighbourhood: King West Agent: Eileen Lasswell, Chestnut Park Real Estate Ltd., Brokerage Previously sold for: $1,910,000, in 2011      

The property

A 2,700-square-foot penthouse attached to the Thompson Hotel.

The history

The seller, who works in finance, bought the property in 2011 for just under $2 million. Now he’s leaving in search of a backyard and a better school district for his son.

The entry is just a foyer with stairs leading up to the main level:

Sale of the Week: The $2.65-million King West condo that took three months to sell

All the living and dining areas are on the main level:

Advertisement
Sale of the Week: The $2.65-million King West condo that took three months to sell

Here’s the dining area:

Sale of the Week: The $2.65-million King West condo that took three months to sell

And the kitchen, with breakfast bar:

Sale of the Week: The $2.65-million King West condo that took three months to sell

The bedrooms are on the next level up, along with this sitting area:

Sale of the Week: The $2.65-million King West condo that took three months to sell

Here’s the guest bedroom, which has its own ensuite bathroom:

Sale of the Week: The $2.65-million King West condo that took three months to sell

And here’s the master bedroom:

Advertisement
Sale of the Week: The $2.65-million King West condo that took three months to sell

And the master bedroom’s ensuite bathroom:

Sale of the Week: The $2.65-million King West condo that took three months to sell

The unit has a large terrace:

Sale of the Week: The $2.65-million King West condo that took three months to sell
The fate

The buyers are a young couple who wanted to live in a vibrant area of the city. They were attracted to the penthouse because of its open floor plan.

The sale

The asking price was high, even for a high-end condo on King West, but the agent believed the premium rate was justified by the unit’s private terrace, with views of nearby Victoria Memorial Square Park, and the Thompson Hotel’s amenities. Although the penthouse was on the market for nearly three months, the seller didn’t want to budge on the price. After 40 showings and multiple verbal offers, he accepted a written offer for $50,000 under asking.

NEVER MISS A TORONTO LIFE STORY

Sign up for This City, our free newsletter about everything that matters right now in Toronto politics, sports, business, culture, society and more.

By signing up, you agree to our terms of use and privacy policy.
You may unsubscribe at any time.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

By the numbers

• $2,650,000 • $10,300 in taxes (approximately) • $2,200 in maintenance fees (approximately) • 2,713 square feet • 81 days on MLS • 3 bathrooms • 2 bedrooms • 2 parking spaces

Advertisement
Advertisement
Advertisement

More Sales of the Week

A Toronto family wanted to ditch the city. So they bought this $2.7m home in Thornbury
Real Estate News

A Toronto family wanted to ditch the city. So they bought this $2.7m home in Thornbury

Inside the Latest Issue

Inside the Latest Issue

The April issue of Toronto Life features the anatomy of a Bay Street fiasco at RBC. Plus, our obsessive coverage of everything that matters now in the city.