Sale of the Week: The $4.5-million Lytton Park home that proves selling a luxury property can take time

Address: 194 Coldstream Avenue
Neighbourhood: Lytton Park Agent: Andre Kutyan, Harvey Kalles Real Estate Ltd., Brokerage Previously sold for: $1,880,000, in 2014, prior to a rebuild      

The property

A nearly 7,000-square-foot home that more than doubled in price after a rebuild.

The history

The sellers are a family of four from British Columbia, who bought the original 1940s property in 2014. After a fire the next year, they decided to tear the home down and rebuild with a budget of approximately $1,600,000. The home was completed in February of 2017.

The foyer has a marble floor:

There’s a gas fireplace in the living room:

Here’s the dining room:

The kitchen has granite countertops and Wolf and Miele appliances:

There’s a breakfast nook:

And here’s the family room, with another gas fireplace and some built-in shelving:

The study is panelled:

There are four bedrooms on the second floor of the house, all with ensuite bathrooms. Here’s one of them:

And another:

Here’s the master bedroom:

The master ensuite has a heated marble floor:

There’s a climate-controlled wine cellar in the basement:

And also a wide-open rec room:

Here’s the backyard:

The fate

The buyers are a young family upsizing from a townhouse in the Casa Loma area.

The sale

The home was originally listed at the end of May for $4,798,000. The sellers negotiated a conditional sale, but those buyers backed out. The property sat on MLS for the rest of the month, then the sellers relisted it in July for $4,598,000. The buyers who had originally walked away came back with a firm offer, but they missed out yet again when a second offer topped theirs. The home sold for $148,000 under asking.

By the numbers

• $4,450,000 • $11,216 in taxes (2017) • 6,840 square feet (including the basement) • 6 bathrooms • 6 parking spaces • 5 bedrooms