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Real Estate

Sale of the Week: The $3.7-million Stonegate mini-mansion that proves marketing is key

By Jonathan Forani| Photography by Mitchell Hubble/Modern Movement
Sale of the Week: The $3.7-million Stonegate mini-mansion that proves marketing is key
Listed At
$3,995,000
Sold For
$3,670,000

Address: 11 Durban Road
Neighbourhood: Stonegate Agent: Paul Maranger and Christian Vermast, Sotheby’s International Realty Canada, Brokerage Previously sold for: $295,000, in 1995, prior to a rebuild

 

The property

A 5,000-square-foot home near Islington station.

The history

The sellers bought the original property in 1995, but knocked it down a few years ago to rebuild. After about 18 months of construction, they moved back into the home in 2016. Soon after, they decided to downsize to a smaller home in the neighbourhood.

Here’s the entry. The flooring is white oak:

Sale of the Week: The $3.7-million Stonegate mini-mansion that proves marketing is key

The dining room has a fireplace:

Sale of the Week: The $3.7-million Stonegate mini-mansion that proves marketing is key

There are quartz countertops in the kitchen:

Sale of the Week: The $3.7-million Stonegate mini-mansion that proves marketing is key

The breakfast area has a view of the backyard:

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Sale of the Week: The $3.7-million Stonegate mini-mansion that proves marketing is key

Here’s the living room. The door to the right of the fireplace leads to an elevator:

Sale of the Week: The $3.7-million Stonegate mini-mansion that proves marketing is key

There are five bedrooms on the second floor. Here’s one of them:

Sale of the Week: The $3.7-million Stonegate mini-mansion that proves marketing is key

And another:

Sale of the Week: The $3.7-million Stonegate mini-mansion that proves marketing is key

And another:

Sale of the Week: The $3.7-million Stonegate mini-mansion that proves marketing is key

And another:

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Sale of the Week: The $3.7-million Stonegate mini-mansion that proves marketing is key

And here’s the master bedroom. It has direct access to the elevator:

Sale of the Week: The $3.7-million Stonegate mini-mansion that proves marketing is key

The master ensuite has heated porcelain flooring:

Sale of the Week: The $3.7-million Stonegate mini-mansion that proves marketing is key

And there’s a rec room in the basement:

Sale of the Week: The $3.7-million Stonegate mini-mansion that proves marketing is key
The fate

The buyers are corporate executives who are moving from the York Region suburbs. They appreciated the quality of the home’s interior finishes.

The sale

The home was first listed in June for nearly $4.3 million. After three months, the sellers switched brokerages. Their new agent dropped the price by $285,000. Even then, the location south of Bloor Street presented a challenge, according to the agent, because the north side is traditionally preferred by wealthy buyers. Marketing for the property focused on its luxurious features, which include a backyard putting green, a pool and views of the Mimico Creek ravine. Post-relisting, the home sold after 58 days on the market, for $610,000 below the original asking price.

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Here’s the pool:

Sale of the Week: The $3.7-million Stonegate mini-mansion that proves marketing is key

And the putting green:

Sale of the Week: The $3.7-million Stonegate mini-mansion that proves marketing is key

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By the numbers

• $3,670,000 • $13,000 in taxes (approximately) • 5,181 square feet (including the basement) • 5 months on MLS • 5 bathrooms • 5 bedrooms • 2 parking spaces • 1 garage

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