65 Skymark Dr., No. 1102, Toronto
Asking price: $1,349,900 (December, 2022)
Previous asking price: $1,349,900 (October, 2022)
Selling price: $1,325,000 (December, 2022)
Previous selling prices: $925,000 (March, 2022); $535,000 (July, 1989)
Taxes: $3,034 (2022)
Property days on market: 33
Listing agent: Stephen Young, Young Realty Inc.
The action
Monthly fees of $1,567 pay for utilities, cable, concierge and use of the tennis court and pools.
Over the past 20 years agent Stephen Young has bought, renovated and sold off about 15 units in this roughly 40-year-old high-rise building near Seneca College’s Newnham Campus. Often, the units sold within days, but this revamped two-bedroom plus den unit lingered on the market without a single offer for a month last year. Discouraged, Mr. Young pulled it off the market, but was then surprised when a previous visitor resurfaced with a $1.325-million bid, conditional on them selling their current home.
“We had tons of interest with over 60 showings, but we had the same feedback over and over: that they loved it and wanted to buy it, but they can’t sell their house or can’t get financing, or the [interest] rates are going up,” said Mr. Young.
“That was happening all across the city, not just for condos and homes or a certain area, but … commercial properties in Scarborough, Etobicoke and downtown. But now some areas are picking up faster than other areas.”
What they got
The kitchen was opened up to the dining area and redone with pot lights, quartz countertops and stainless steel appliances.
This nearly 1,900-square-foot unit was completely redesigned, from the creation of a glass-enclosed den from excess space in one bedroom to the addition of an accent wall/fireplace in the living room.
Three bathrooms were remodelled and the laundry room was reconfigured. The kitchen was opened up to the dining area and redone with pot lights, quartz countertops and stainless-steel appliances. It also exits to a balcony.
The unit includes a storage locker and two parking spots. Monthly fees of $1,567 pay for utilities, cable, concierge and use of the tennis court and pools.
The agent’s take
This nearly 1,900 square-foot unit was completely redesigned, from the creation of a glass-enclosed den from excess space in one bedroom to the addition of an accent wall/fireplace in the living room.
“This is highly sought after because the other alternatives are too small – they’re small one bedrooms,” Mr. Young said.
“This was an original unit from 39 years ago with the original kitchen, bathroom tiles and carpeting, so it took a lot of work to bring it to a modern-day renovation.”