PSR Brokerage
50 Lynn Williams St., No. 204, Toronto
Asking price: $649,999 (February, 2024)
Previous asking prices: $689,000 (September, 2023); $689,000 (June, 2023) *under previous agent
Selling price: $750,000 (March, 2024)
Previous selling prices: $615,000 (December, 2021); $358,500 (February, 2015); $284,000 (September, 2007); $213,333 (December, 2006)
Taxes: $1,249 (2024)
Days on the market: Six
Property days on market: 150
Listing agents: Mikayla Rugala and Sarah Bernabe-Pascua, PSR Brokerage
This 825-square-foot unit has an open, loft-like feel with two-storey ceilings and south-facing windows.PSR Brokerage
The action
In a 17-year-old, high-rise at the east end of Liberty Village, this one-bedroom unit only had three visitors and no offers over nearly five months last year. New agents were brought in who stressed the importance of doing repairs, painting, and staging to help the property stand out and hopefully spark an offer. A stylish transformation and a reduced asking price did the trick, luring in 10 visitors and three purchase offers, the best of which beat the asking price by $100,001.
“People are dumping their money into the down payment, so the last thing they want to think about is renovation costs,” said agent Mikayla Rugala.
The sellers deliberately underpriced the property in expectation of getting offers in the $700,000 to $710,000 range. Getting much more was a pleasant surprise.
“We listed low to encourage multiple offers and managed to get $40,000 over my clients’ expectations, which the previous realtor said wouldn’t be possible even when the market picks up.”
Overlooking the entertaining area is a galley kitchen, with the primary bedroom above.PSR Brokerage
What they got
This 825-square-foot unit has an open, loft-like feel with two-storey ceilings, south-facing windows, and an electric fireplace in the living room.
Overlooking the entertaining area is a galley kitchen, with the primary bedroom above. This space also has a walk-in closet, a laundry room with stacked machines, and the larger of the unit’s two bathrooms.
There’s a storage locker down the hall and an underground parking spot. Monthly fees are $777 and cover water and heating as well as the occasional use of guest suites, three gyms and an indoor pool.
Nearby attractions range from restaurants and grocers to the Exhibition GO station and streetcar lines.
The space boasts an electric fireplace in the living room.PSR Brokerage
The agent’s take
“It’s a two-storey loft with a great walk-in closet through the ensuite, and it has a functional layout which offers a big living space,” said Ms. Rugala.
“It has an unobstructed view, and it’s in the heart of Liberty Village, which is an extremely convenient area.”