15 Aug SOLD: 533 Richmond St W
Sold for a building record of $1,059 a square feet!
Represented by Alan O. Wong, salesperson
533 RICHMOND ST W #307 (Richmond & Portland)
1 BEDROOM / 1 BATHROOM / 510 SQ.FT.
Asking $449,900 / Sold for $540,000
Sale Notes: Non-stop showings on this efficient 1-bedroom starter loft shows that the downtown condo market under $600k is the hottest market in GTA this summer. Over 75 private showings and 16 offers resulted in a sale that brought in $90,000 over the asking price and shattering the sales record in the building by $138 a square feet! The unit was expertly staged in-house which accentuated the modern urban loft character. I was kindly congratulated on this sale by the condo board president, who historically been the real estate agent for most of the sales in the building and was shocked by the results of this sale.
Potential buyers were attracted to the central location (steps to Loblaws, LCBO, Goodlife and Queen/King Streets), the quiet and private boutique building of just 51 units, and the very impressive over-sized set of double sliding patio doors which expands the living area to the spacious terrace that includes gas and water lines. The overwhelming positives of this property did outweigh the relatively high maintenance fees that frequently plague boutique buildings like this, and potential buyers recognized this as a third of the offers were over $500,000.