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Real Estate News

Sale of the Week: The $1.7-million house that shows the economics of a Yorkville fixer-upper

By Kelly Reid
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The house that sold at 21 New Street
Listed At
$1,695,000
Sold For
$1,695,000

Address: 21 New Street

Neighbourhood: Yorkville

Agent: Jay Egan, Olga Lapshin, and Shelby Corson, Forest Hill Real Estate Inc., Brokerage

The Property: A house-turned-office with laneway access to Hazelton Avenue.

The History: The house was built in 1875 by the chief of the Yorkville Fire Station. A publishing company converted it into an office space 16 years ago. Now, the company’s staff has outgrown the building and they’re moving out.

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The Fate: The buyer, who works as an architect and interior designer, plans to convert the office back into a home. He wants to maintain the heritage façade while adding more windows in the back. Houses on New Street tend to be less expensive than the ones on the adjacent Hazelton, but the buyer is hoping his renovations will increase the property’s value to around $2.8 million.

The Sale: The house sold in one day for the full asking price. The seller, not expecting intense interest in such a niche property—it doesn’t have a full kitchen or showers—was happy to accept. The buyer, meanwhile, was excited to snag a choice property in Yorkville for under $1.7 million.

By The Numbers:

  • $1,695,000
  • $18,400.87 in taxes (2015)
  • 2 bedrooms
  • 2 bathrooms
  • 2 Juliet balconies
  • 1 kitchenette
  • 1 day on the market

The downstairs is a workspace, and there’s a meeting room in the rear:

Sale of the Week: The $1.7-million house that shows the economics of a Yorkville fixer-upper

The meeting room at the back of the house:

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Sale of the Week: The $1.7-million house that shows the economics of a Yorkville fixer-upper

There are more workspaces upstairs. This one has a Juliet balcony:

Sale of the Week: The $1.7-million house that shows the economics of a Yorkville fixer-upper

Still more workspaces on the lower level:

Sale of the Week: The $1.7-million house that shows the economics of a Yorkville fixer-upper

The kitchenette is on the lower level:

Sale of the Week: The $1.7-million house that shows the economics of a Yorkville fixer-upper

And there’s a coach house in the backyard:

Sale of the Week: The $1.7-million house that shows the economics of a Yorkville fixer-upper

The Hunt

More Sales of the Week

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

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