Sotheby’s International Realty Canada
143 Drayton Ave., Toronto
Asking price: $1,829,000 (January, 2024)
Previous asking prices: $1,829,000 (Late August, 2023); $1,599,000 (Mid August, 2023)
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Selling price: $1,765,000 (February, 2024)
Taxes: $6,969 (2023)
Property days on market: 92
Listing agent: Lani Stern, Sotheby’s International Realty Canada
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The open ceilings of this custom house were renovated to install a bedroom above the kitchen.
Sotheby’s International Realty Canada
The action
The owners of this custom, two-bedroom house were unexpectedly relocated for work less than a year after its completion, so they listed it for $1.599-million, but rejected five offers. They relisted it for $1.829-million late last summer.
“Construction costs are pretty high in the current landscape, so my clients, who just finished doing the work, were hoping to get out what they put into it,” said agent Lani Stern.
“People bringing offers didn’t really align with where we saw its value or terms we were hoping to see.”
Buyers were stuck on two points: the lack of parking and of a third bedroom. The sellers offered to install a new bedroom above the existing two-storey kitchen, which was then open to the second floor, upon request. They then decided to go ahead with the alteration, whether it was asked for or not and the work was completed this year. In its new configuration, it quickly grabbed an offer, though one $64,000 below the asking price.
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“The bedroom, ironically, was easier for us to fix than parking,” Mr. Stern said.
“The market factors really played into it too because the market began to uptick.”
The kitchen after the third bedroom was installed.
Sotheby’s International Realty Canada
The house was designed with sustainable building practices.
Sotheby’s International Realty Canada
What they got
Blackrock Design and baukultur/ca created this two-storey house with a modern, cube-like façade using sustainable building practices.
The main floor has a dining area off the foyer and a separate entertaining space with a gas fireplace and massive doors to a deck, patio and yard on the 20- by 100-foot lot.
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There are ethernet ports throughout the house and heated flooring in the recreation area downstairs and all four bathrooms, including a seven-piece ensuite bathroom.
The lack of a third bedroom and no parking was a sticking point for interested parties. 'The bedroom, ironically, was easier for us to fix than parking,' agent Lani Stern said.
Sotheby’s International Realty Canada
The agent’s take
“The architect was really great at coming up with a plan that maximized light and put in ample storage equivalent of a property twice its size,” said Mr. Stern.
“Oftentimes, there are negative connotations that modern means there’s nothing to it, but there were textures, colours, intuitive design and really thoughtful floor plan … that just elevated it beyond belief.”