Pope Real Estate Ltd.
438 King St., W., No. 1105, Toronto
Asking price: $859,990 (late October, 2023)
Previous asking price: $919,990 (early October, 2023); $969,990 (August, 2023)
Selling price: $830,000 (December, 2023)
Previous selling price: $840,000 (July, 2020); $395,500 (May, 2007); $271,906 (January, 2007)
Taxes: $3,604 (2023)
Property days on market: 116
Listing agent: Robin Pope, Pope Real Estate Ltd.
The action
The cabinetry was updated in the condo's two bathrooms and kitchen, which also features granite countertops and stainless steel appliances.Pope Real Estate Ltd.
This two-bedroom corner unit was listed at an asking price of $969,990 shortly after another unit in the building, similar but with less favourable views, finishes and outdoor space, sold for about $900,000. A lack of buyers willing to view the unit led the sellers to drop the price to $919,990. This piqued the interest of one visitor, who nonetheless waited for six weeks – and another price reduction, this time to $859,990 – to begin negotiations. A final purchase price of $830,000 was accepted.
“It goes to show, there wasn’t a lot of urgency on the market, even though we dropped the price from when they saw it originally,” agent Robin Pope said.
“[Even though] it was a great price, the buyer was still expecting a discount.”
The sale price was $10,000 less than the owners paid for the unit in 2020. But it came after they had finalized the purchase of a west-end house, which they bought at a price that was $200,000 under their budget.
“They perceived they saved at least $200,000 on purchasing that property,” Mr. Pope said. “Therefore, for them to sell their condo for $10,000 less than they paid, they still saw it as a win.”
What they got
This 844-square-foot unit in a 17-year-old high-rise at the corner of King Street West and Spadina Avenue has nine-foot ceilings, windows in every room, and a north and west-facing balcony off the principal room.Pope Real Estate Ltd.
This 844-square-foot unit in a 17-year-old high-rise at the corner of King Street West and Spadina Avenue has nine-foot ceilings, windows in every room, and a north and west-facing balcony off the principal room.
Cabinetry was updated in the two bathrooms and kitchen, which also features granite countertops and stainless steel appliances.
A storage locker and parking spot are included. Monthly fees of $778 pay for utilities, concierge and amenities.
The agent’s take
A storage locker and parking spot are included. Monthly fees of $778 pay for utilities, concierge, and amenities.Pope Real Estate Ltd.
“It was a corner unit, so it was very bright and had a great view west,” Mr. Pope said.
“Many units in that building have smaller balconies, and this one had a premium-sized balcony.”