Skip to main content
done deal
Open this photo in gallery:

Re/Max Hallmark Realty Ltd.

380 Macpherson Ave., No. 242, Toronto

Asking price: $874,900 (August, 2022)

Previous asking price: $899,000 (July, 2022)

Selling price: $865,000 (September, 2022)

Previous selling price: $451,000 (July, 2012); $425,000 (November, 2009); $304,747 (October, 2009)

Taxes: $3,077 (2022)

Property days on the market: 44

Listing agent: Jenelle Cameron, Re/Max Hallmark Realty Ltd.

Open this photo in gallery:

The kitchen boasts hardwood floors, granite countertops and stainless steel appliances.Re/Max Hallmark Realty Ltd.

The Action

Several units at Madison Avenue Lofts, near Casa Loma, went through at least one price change to entice buyers during the quieter summer season. This two-bedroom loft initially seemed to defy the odds with a high number of visitors in its first month on the market, but none resulted in purchase offers.

“We were getting lots of showings, but people weren’t pulling the trigger,” said agent Jenelle Cameron.

“There were quite a few [condos for sale in the building] – some larger and more expensive, and some smaller – and there were a few units having a really hard time selling.”

This home’s lack of outdoor space turned off some buyers, so the price was lowered from $899,000 to $874,900. An offer came in 11 days later, squeezing the number further to $865,000.

“Before COVID, it didn’t really matter if people had balconies,” Ms. Cameron said. “But after people were locked in their condos, they wanted a balcony.”

“The upside to this building is it has a phenomenal rooftop terrace, so if you are okay without having a personal balcony, it’s well worth it to go up there. It’s gorgeous with a great view of the Casa Loma, seating, and barbecues.”

Open this photo in gallery:

The south-facing unit has a ten-foot ceiling and full-height windows.Re/Max Hallmark Realty Ltd.

What they got

On the second floor of a former hydro building, this south-facing loft has a ten-foot ceiling and full-height windows. There are hardwood floors, granite countertops and stainless steel appliances.

Two bathrooms and laundry facilities fill out loft. It also comes with a storage locker and parking.

Monthly fees of $713 pay for water and heating. The closing date is Dec. 16.

Open this photo in gallery:

Two bathrooms and laundry facilities fill out loft.Re/Max Hallmark Realty Ltd.

The agent’s take

“The units are all a little different, so they’re beautiful and unique,” Ms. Cameron said.

“This is a good space with two bedrooms, an open concept living/dining area, and a foyer, which I think is important.”

Follow related authors and topics

Authors and topics you follow will be added to your personal news feed in Following.

Interact with The Globe