property.ca
116 George St., No. 1410, Toronto
Asking price: $549,999 (February, 2024)
Selling price: $525,000 (April, 2024)
Previous selling prices: $322,000 (November, 2015); $184,015 (February, 2010)
Taxes: $2,165 (2023)
Days on the market: 61
Buyer’s agent: Rebecca Colwill, Re/Max Hallmark Pierre Carapetian Group
There is a wide balcony at one end of the living room with exposures to the east and south.property.ca
The action
Agent Rebecca Colwill spent several weeks showing her clients 30 different properties from Scarborough to downtown Toronto, to see how far they could stretch their $550,000 budget. The first-time buyers made their only offer on this one-bedroom unit near St. James Park and successfully negotiated $24,999 off the asking price.
“We were able to negotiate on it because it had been on the market for a little bit of time,” said Ms. Colwill.
“We did see a couple of other properties that did have bidding wars, so we stayed clear of those because we didn’t want to get involved,” she said. ”They’re first-time buyers, so we wanted to make sure we were able to have conditions, like financing and status review.”
The unit has floor-to-ceiling windows and six appliances.property.ca
What they got
In the north tower of a 14-year-old condo complex called Vu, this corner unit has floor-to-ceiling windows throughout, including the kitchen, and a wide balcony at one end of the living room with exposures to the east and south.
There is a four-piece bathroom and six appliances in the kitchen.
Monthly fees of $441 cover water and heating, 24-hour concierge and use of building amenities, which include a gym and rooftop deck.
The one-bedroom unit is centrally located and has views of the CN Tower and Lake Ontario.property.ca
The agent’s take
“The buyers were looking for a place that could hold all their books, and this place has tons of windows and wall space,” said Ms. Colwill. “It was gorgeous.
“It’s in a great central location, so you also had a skyline view. You could see the CN Tower and the lake.”