Underpriced corner condo in Regent Park gets two offers in two days, sells for $810,000

Sydnia Yu
Toronto
Special to The Globe and Mail
Published July 30, 2023

 

25 Cole St., No. 1605, Toronto
Asking price: $799,900 (May, 2023)
Selling price: $810,000 (May, 2023)
Previous selling prices: $409,000 (July, 2014); $340,504 (May, 2010)
Taxes: $2,597 (2022)
Days on the market: Two
Listing agents: Sandra Pate and Amy Polson, Sage Real Estate Ltd.

The kitchen is outfitted with granite countertops and stainless steel appliances.

 

The action

Agent Sandra Pate was betting this two-bedroom plus den corner unit could sell for more than $800,000, like a similar model in the same high-rise complex did, if it was listed for $799,900 and filled with stylish furnishings. The effort paid off with two offers within 48 hours and a sale $10,100 over the asking price.

“The seller bought a house and moved out, so that made it easy to stage and get it sold,” said Ms. Pate. “And fortunately, the condo market co-operated as well.”

“There were quite a few buyers who were disappointed they missed out, but you’ve got to be fast.”

The 856-square-foot unit has nine-foot windows in its open-concept living area.

 

What they got

This mixed-use building constructed in 2010 by The Daniels Corp., has street-level retailers and hundreds of suites above, such as this 856-square-foot unit on the 16th floor.

The home has nine-foot ceilings and a wide balcony with wood flooring and sliding doors to the kitchen and primary bedroom. The kitchen is outfitted with granite countertops and stainless steel appliances.

The unit includes a storage locker and parking spot. Monthly fees of $760 cover water and heating.

The two-bedroom unit has a split-bedroom plan with two bathrooms, so two people could easily share it and have privacy.

 

The agent’s take

“It’s in a nice, south-east corner with floor-to-ceiling windows all around, so you get great light and it’s high enough for a good view,” Ms. Pate said.

“It also has a nice, split-bedroom plan with two bathrooms, so two people could easily share it and still have privacy.”

Residents also have easy access to many urban amenities. “This particular building has pretty amazing facilities; it’s an award-winning, LEED building with a sky park, which is a third-floor level park with barbecues and picnic areas,” Ms. Pate said.

“And a block away is a massive aquatic centre, so it’s a handy location.”

 

The wide balcony on the south-east-facing corner unit has wood flooring and overlooks the redeveloping Regent Park area.