Sale of the Week: The $3.4-million modern Thorncrest home that took a few tries to sell

Address: 34 Princess Margaret Boulevard
Neighbourhood: Thorncrest Agent: Andrew Ipekian, Keller Williams Referred Urban Realty, Brokerage Previously sold for: $1,500,000, in 2016, prior to a rebuild

Listed at: $3,499,999 Sold for: $3,400,000

The property

A 6,000-square-foot home near St. George’s Golf and Country Club.

The history

The sellers live north of the city. They bought a bungalow on this site in 2016 for $1.5 million, then tore the house down and built a luxury modern home in its place. The new structure has 10.5-foot ceilings, white oak floors and an elevator. They ended up not moving in, so they put the property on the market, instead.

There’s a dining area by the entry:

An office area with some swanky wall treatments:

There’s another dining area by the kitchen:

A closer look at the kitchen:

And here’s the family room:

The upstairs landing is larger than some apartments:

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

And another:

And another:

And here’s the master bedroom:

The master bedroom’s walk-in closet:

And the master ensuite:

There’s a rec area and gym in the basement:

And here’s the view from the rear:

The fate

The buyer is from outside the GTA, but has Toronto-based friends who brought the listing to his attention. He attended an open house and didn’t make an offer—but he pounced when the sellers dropped their asking price.

The sale

The home was originally listed for $3,850,000 in 2018. This year, the sellers hired a new agent who tried a few different prices before dropping the ask to $2,950,000, which generated some offers that the sellers considered too low. They raised the price again, to nearly $3.5 million, which finally resulted in a bid they could accept, for $100,000 under asking.

By the numbers

• $3,400,000 • $7,369 in taxes (approximately) • 6,000 square feet (including the basement) • 6 bathrooms • 6 parking spaces • 5 bedrooms