49 Chestnut Park Rd., Toronto
Asking price: $5,795,000 (September, 2024)
Previous asking price: $5,995,000 (August, 2024)
Selling price: $5.6-million (October, 2024)
Previous selling prices: $5,125,000 (June, 2019); $4,785,000 (December, 2017); $4,497,000 (June, 2015); $2.05-million (November, 2012)
Taxes: $21,573 (2024)
Property days on market: 39
Listing agent: Elli Davis, Sotheby’s International Realty Canada
The action
This semi-detached house first came to market in late August priced a tad under $6-million when other options in the upscale neighbourhood were limited.
“I knew supply would increase in September/October, which it did, and there were few homes for sale in Rosedale at the time,” said agent Elli Davis. “So I felt it was a good time to show it.”
“The landscaping was also at its most beautiful.”
Initial feedback was positive, but to further entice buyers, the price was taken down by $200,000. Nine days later, an offer of $5.6-million was presented, which was accepted.
“We adjusted the price once to stimulate more activity, which resulted in an offer and a sale,” said Ms. Davis.
“I’m finding that properties that need renovations are taking longer than the ones that are not needing it.”
What they got
This 119-year-old house is a heritage-designated property with a brick façade and a portico.
The home has been updated with a contemporary kitchen and a sundeck off a study on the third floor. It also has a temperature-controlled wine cellar.
There are entertaining areas with gas fireplaces on the main and lower levels. The main-floor family room has three sets of French doors to the garden and the garage on the 32- by 143-foot lot.
The second-floor primary suite has a balcony, dressing room, sitting room and the largest of the home’s four bathrooms.
The agent’s take
“Chestnut Park is one of the most prime streets in Rosedale,” said Ms. Davis.
“This was actually a good condo alternative for someone who may not want to go into a high-rise. And the walkability to Yonge Street was a very strong asset.”