38 Avoca Avenue, Ph 7, Toronto
Ask for a price: $599,000 (August 2022)
Previously Asked Price: $688,000 (June 2022); $648,000 (July 2022)
Sale price: $602,000 (August 2022)
Taxes: $2,540 (2022)
Days on the market: Of them
Listing agent: Elli Davis, Sotheby’s International Realty Canada
It took seven weeks this summer and two price cuts to find a buyer for this one-bedroom penthouse near David A. Balfour Park. As soon as a previous visitor learned that the price of the unit had been reduced to $599,000, he came back and negotiated a deal sweetened by a bonus of $3,000 to $602,000.
“Right now we’re in a transitioning market, so it’s hard to pinpoint exactly when you think something will sell, so you always have to try and see, and if it doesn’t move, you have to adjust,” agent Elli says Davis.
what they have
This 683 square foot unit on the 16th floor of a 24 year old building has nine foot ceilings and travertine stone flooring in the hall and kitchen.
The combined living and dining room has hardwood floors, a gas fireplace and sliding patio doors.
The unit includes a storage locker and parking. The $794 monthly fee covers the cost of utilities, cable, and 24-hour concierge.
âIt’s a penthouse with an uncovered balcony and a nice west view towards Yonge and St. Clair,â Ms. Davis said.
âIt’s a smaller unit in a building that has bigger units and much higher prices, so you have the advantage of living in a luxury building, like a small house on a big street.â
The building has a private courtyard and is close to local shops and restaurants. âThe building itself is lovely, right next to a ravine, walking path and subway,â Ms Davis said.