Dream Homes: Yorkville area sees significant price drops


The living room of the penthouse at 77 Avenue Rd. in Yorkville

A penthouse atop the boutique building at 77 Avenue Rd. in Yorkville went back on the market last month for $2,595,000 — $400,000 less than it was listed for at the end of 2012. The west-facing Penthouse 1 in the New Hazelton Lanes building was built by Toronto architect Jack Diamond and spans 2,470 square feet of stone floors and high ceilings. An open, westerly walk-out terrace, skylights and glass walls ensure bright rooms and a view of the city. It also features oversized living and dining rooms; a den with built-in desk space, shelving and a fireplace; and two generous bedrooms (listed by Jimmy Molloy, Chestnut Park Real Estate Limited, Brokerage).

From left: The den and dining room

Two more condos at Bay & Bloor relisted for less

Realtors predicted that Toronto’s insatiable appetite for condos would be sated near the end of 2012 — and they were right. When compared to the same time a year before, 2012’s number of year-end condo resales dropped 22 per cent, and the number of new condo sales dropped by 47 per cent. This prompted especially sizeable price drops in some of Toronto’s ritziest neighbourhoods. Check out these other newly reduced condos in the area:

$175K reduction in price
Nestled within the Prince Arthur, this 2,345-square-foot unit was put back on the market in January for $1,875,000. Listed for $2.05 million late last year, this two-bedroom features marble floors, detailed crown mouldings and built-in bookcases and display shelves throughout. Amenities include a Jacuzzi soaker tub, a four-piece bathroom and a direct-access elevator.


$55K reduction in price
This Cumberland Street condo was constructed adjacent to the historical Church of the Redeemer in Yorkville and is going for $1.195 million. The 1,685-square-foot unit boasts a southwesterly view of the Royal Ontario Museum, complete with protected sightlines. Coffered ceilings, a modern kitchen and hardwood floors provide additional elegant details.

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