Happy Holidays and welcome to our December 2018 Home of the Month! This feature provides a snapshot of what Urbaneer's Buyers have recently purchased in the City of Toronto.
This month’s real estate buy comes from Urbaneer team member James Ormston, who assisted our Buyer in securing a smart, strategic condominium purchase in the super convenient neighbourhood of Liberty Village!
This particular Buyer was referred to us by past clients following his initial unfruitful sojourn with another realtor. Seeking a property that would provide both sufficient utility to meet his day to day needs while also serving as a profitable investment property when he climbs the property ladder in the future, this client had saved a bit of a nest egg - padded with a familial financial gift - to finance his first property acquisition.
Our Buyer wanted to eliminate his lengthy commute from the suburbs by purchasing a centrally located property and in a well-constructed well-managed reputable building. With a budget under $700,000 he sought a unique urban space that offered all the benefits of condominium living, with one bedroom and a work space or separate den, outdoor space and parking. Furthermore, he wanted it to be in a centrally located neighbourhood that was both walkable, engaging, and within a quick commute to his job in the heart of the central business district. Ideally it would be low maintenance (given the demands of his busy career), in turn-key condition, and requiring few, if any, changes prior to moving in.
After establishing the client brief of wishes, wants, and needs, the first property which aligned with his vision - and a development which we really like and have sold in the past - was located at 125 Western Battery Road - in Liberty Village which was his top location choice. This 1 Bed+Den, 2 Bath Suite included a locker and underground parking. Offered for $609,999, it appealed to our buyer for its turn-key condition and smart built-ins - which included an efficient work/study area in the semi-enclosed den area and a custom made bedframe with an ingenious if not (in our minds, at any rate) entirely necessary under-mattress storage area. Although the list price of the suite was at, or very close, to its market value, the seller had come to market with a holdback on offers for 7 days in the hopes of inciting competition (Here's Dear Urbaneer: About Holdbacks On Offers, Bully Offers & Bidding Wars For Buyers). After approaching the listing realtor inquiring whether the Seller might consider a pre-emptive offer, to which he said "No", come offer night we were the only offer registered. Given this situation, our buyer directed us to submit a bid below asking price. Although our buyer did strengthen his offer in a resubmission, the Seller advised us he sought a sum well above his asking price. As a result, our Buyer withdrew and the Seller took the property off the market.
Here's a few snaps of that space:
Fortunately, soon after, a unique dwelling came to market that ticked all the Buyer's boxes - so we promptly arranged a viewing. Initially, we were wary of this address due to the imminent construction of a new tower located adjacent to this complex, but after visiting the property we found it in outstanding condition with an excellent south easterly lakeview which would be unaffected by new construction. As we reviewed comparable sales, we noted a unit with an identical floorplan had sold for more than $65k more than the list price of the property our buyer was considering just a month prior to the announcement of the coming adjacent construction. Our buyer, recognizing the outstanding value proposition, considered this a serious contender.
There's an old adage which says "buy once, and buy well" which certainly applied in this instance.This 745 square foot 2-bed 2-bath condominium with 2 lockers and 1 underground parking space is a veritable rubik's cube of stylish, efficient, and low maintenance living situated in the prime Liberty Village neighbourhood. Now, if you're not intimately familiar with Liberty Village, each property must be carefully considered given the area - only 20 years since it was industrial and brownfield sites - has ongoing development which can impact sight lines, has several rail corridors to the north and south which impact noise, and has had a variety of developers who have different commitments to quality which will utlimately have bearing on resale value. Be assured, the Urbaneer team provide counsel to our buyer clients so they're aware of all the mitigating factors.
Here are just a few highlights of this excellent abode:
• 9ft ceilings and floor-to-ceiling glass with custom blinds in the living area and both bedrooms
• Smart and efficient layout corner suite with south and east exposures
• Modern open concept chef’s kitchen featuring Caesarstone counters and breakfast bar
• Smart split bedroom plan; both bedrooms feature windows which open for air flow, and the master bedroom features a generous walk-in closet and spa-like master ensuite with glass shower
• Generous full width south facing balcony with walkout from living area
• Entry area den/office space with adjacent ultra-convenient 4-piece washroom
• An added rarely-seen bonus! A full-size locker on same level as the suite itself, in addition to one locker on garage level
Here are some photos from MLS which showcase this outstanding urban home:
List: $669,900 (Offered initially at $684,900) / Sold: $669,900
Incredible! Given all of this was within a short stroll to all of the Liberty Village amenities, King Street, Fort York and Garrison Common Park, Queen West, & mere minutes to downtown, our Buyer recognized the rare opportunity for what it was, and pounced with an offer which, after some negotiation, was accepted by the seller.
The result? A stand-out residence, purchased at a substantial discount to area values that provides and perfectly balances the comfort of every day living with true style and sophistication. An added plus? Its size and useful, efficient space plan also offers our buyer the opportunity to remain in place to start a family if so desired, rather than being forced to move if he had purchased a smaller one bedroom + den suite as was his original plan! This modern urban oasis in one of the most highly sought-after neighbourhoods of Toronto gets a big thumbs up from us! And now our fortunate buyer can call it 'Home'!
How fantastic is that?
Congrats to our delightful and intrepid buyer!
Serving first, second, and multi-time buyers, young families, down-scaling Zoomers, renovators and those building their investment property portfolios, our mandate is to help our clients strategically secure the best real estate on offer, while ensuring their purchase best serves their practical needs and their dream of 'Home'. We identify a property's best qualities, features, and insouciant charm in the context of the future target market while meeting your own wishes, wants, and desires.
Check out our Neighbourhood Pages to explore many more of Toronto's desirable neighbourhoods, including King West, Niagara & Liberty Village! They feature flavour videos, city census data on the area, plus past amenity blogs!
Curious to see what the Urbaneer Team sells? Here's Toronto’s Best Houses & Condos Of 2017 By Urbaneer, which showcases our expertise across the original City!
If you, or someone you love, has specific real estate needs, wishes and desires, and would enjoy the personalized service of someone Celebrating Twenty-Five Years As A Top-Producing Toronto Realtor who subscribes to a pressure-free approach - and a specialty in unique urban homes - please know we are here to help!
- Urbaneer Team
Steven Fudge, Sales Representative
& The Innovative Urbaneer Team
Bosley Real Estate Ltd., Brokerage - (416) 322-8000
- we're here to earn your trust, then your business -
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