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

Sale of the Week: The $5-million Forest Hill home that proves mansions aren’t selling for quite as much as they used to

By Jonathan Forani| Photography by VR Listing
Copy link
Sale of the Week: The $5-million Forest Hill home that proves mansions aren't selling for quite as much as they used to
Listed At
$5,549,000
Sold For
$5,050,000

Address: 8 Silverwood Avenue
Neighbourhood: Forest Hill Agent: Jeffrey Wagman, Forest Hill Real Estate Inc., Brokerage Previously sold for: $3,200,000, in 2011      

The property

A lavish home with an elevator and heated driveway on a quiet, 20-house street.

The home has a large foyer, with custom ceiling lanterns:

Sale of the Week: The $5-million Forest Hill home that proves mansions aren't selling for quite as much as they used to

Here’s the living room:

Sale of the Week: The $5-million Forest Hill home that proves mansions aren't selling for quite as much as they used to

The dining room:

Advertisement
Sale of the Week: The $5-million Forest Hill home that proves mansions aren't selling for quite as much as they used to

And the family room:

Sale of the Week: The $5-million Forest Hill home that proves mansions aren't selling for quite as much as they used to

The kitchen has marble countertops and a Robert Kuo chandelier:

Sale of the Week: The $5-million Forest Hill home that proves mansions aren't selling for quite as much as they used to

There’s a large breakfast area in the kitchen:

Sale of the Week: The $5-million Forest Hill home that proves mansions aren't selling for quite as much as they used to

Here’s the elevator. It may seem like a luxury (and with all that dark wood panelling it definitely does look like a luxury), but it could also be a lifesaver for someone with bad knees:

Sale of the Week: The $5-million Forest Hill home that proves mansions aren't selling for quite as much as they used to

There are four bedrooms on the second floor, plus this office, with mahogany panelling:

Advertisement
Sale of the Week: The $5-million Forest Hill home that proves mansions aren't selling for quite as much as they used to

Here’s one of the bedrooms:

Sale of the Week: The $5-million Forest Hill home that proves mansions aren't selling for quite as much as they used to

And another:

Sale of the Week: The $5-million Forest Hill home that proves mansions aren't selling for quite as much as they used to

And another:

Sale of the Week: The $5-million Forest Hill home that proves mansions aren't selling for quite as much as they used to

And here’s the master bedroom. That banquette in the window is a custom cedar-lined storage chest:

Sale of the Week: The $5-million Forest Hill home that proves mansions aren't selling for quite as much as they used to

The master bedroom’s walk-in closet:

Advertisement
Sale of the Week: The $5-million Forest Hill home that proves mansions aren't selling for quite as much as they used to

And the master ensuite:

Sale of the Week: The $5-million Forest Hill home that proves mansions aren't selling for quite as much as they used to

There’s a rec room in the basement:

Sale of the Week: The $5-million Forest Hill home that proves mansions aren't selling for quite as much as they used to

Plus a fifth bedroom:

Sale of the Week: The $5-million Forest Hill home that proves mansions aren't selling for quite as much as they used to

And a little space for a gym:

Sale of the Week: The $5-million Forest Hill home that proves mansions aren't selling for quite as much as they used to

But why work out on a treadmill? Swimming is better exercise:

Advertisement
Sale of the Week: The $5-million Forest Hill home that proves mansions aren't selling for quite as much as they used to
The history

The sellers, who lived across the street before moving here in 2011, are involved with several charities and often hosted events at the house. They’re moving into a larger space so they can accommodate more guests.

The fate

A banking professional who recently transferred from the U.S. bought the house with his family, which includes three children. The buyers liked the property’s proximity to Upper Canada College and Bishop Strachan School.

The sale

The house spent a month on the market before finally attracting a lone offer, dramatically below the house’s list price. The sellers initially balked, but a week later they accepted $500,000 under asking. Their agent says it took time for them to adjust their expectations after the housing market’s downturn earlier this year.

By the numbers

• $5,050,000 • $21,500 in taxes, approximately • 4,000 square feet • 49 days on MLS • 7 bathrooms • 6 bedrooms

The Hunt

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.

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.