‘Bungalow in the sky’ sells amid winter market chill

2900 Yonge St., No. 905, Toronto

Asking price: $2,289,000 (December, 2022)

Selling price: $2.2-million (December, 2022)

Taxes: $9,011 (2022)

Days on the market: Seven

Listing agents: Penny Brown and Nigel Denham, Sotheby’s International Realty Canada

The action

This two-bedroom plus den penthouse suite in a nine-storey building on Yonge Street across from Alexander Muir Memorial Gardens managed to attract 12 potential buyers despite bone-chilling winter weather and a seventh interest rate hike by the Bank of Canada. Days before Christmas, the seller agreed to accept an offer of $2.2-million, $89,000 under asking.

“When there’s something special, regardless of the market, someone will want it,” said agent Penny Brown.

“In this case, we had immediate showings, even though it wasn’t an optimal time to have brought it out, but we made an exception because there are so few like it.”

What they got

This more than 30-year-old penthouse has a 2,081-square-foot plan with two east-facing balconies. The smaller one lies off the primary ensuite bathroom. The other is accessed from the second bedroom, den, dining room and eat-in kitchen.

Skylights allow natural light to fill an office off the living room. It features a wood burning fireplace.

The unit includes an ensuite laundry room, plus a storage locker and two parking spots. Monthly fees of $2,007 cover utility costs.

The agent’s take

“It’s a very desirable, older and more mature building that was impeccably run,” said co-listing agent Nigel Denham.

“It has a full range of amenities, 24-hour concierge, party room, gym and indoor pool, which is widely used.”

“It was built at a time when space was not at such a premium, so this has gracious spaces, it really was like a bungalow in the sky,” Ms. Brown said.

“This is also in one of the few buildings that had balconies all across the front with multiple walkouts so you could look across to the park.”

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