Etobicoke penthouse sells on presentation, but below asking

Open this photo in gallery:

3865 Lake Shore Blvd. W., No. 1602, Toronto

Asking price: $969,000 (March, 2026)

Selling price: $910,000 (April, 2026)

Taxes: $4,675 (2025)

Days on the market: 35

Listing agent: Susan Saccucci, Sotheby’s International Realty Canada

Open this photo in gallery:

The action

This two-bedroom, corner penthouse got three offers within three weeks, which agent Susan Saccucci said was a good outcome during a market downturn, though the unit sold $59,000 below asking.

“It’s a penthouse in a building with only six such units, and none have traded since they were originally purchased from the builder,” said Ms. Saccucci.

“Interestingly, two of the three offers came from existing residents in the building, which speaks to the demand for this specific product.”

Ms. Saccucci said the property benefited from its excellent condition, refreshed with a new paint job and stylish furnishings.

“We know this market is a move-in ready market; people do not want to do renovations,” Ms. Saccucci said.

“Even if a property is special, you still have to do the work, and that helped us get the price.”

Open this photo in gallery:

What they got

The more than 1,100-square-foot unit in a 14-year-old building has 10-foot ceilings, hardwood flooring and crown mouldings, as well as two balconies. One wraps around the south and west sides of the principal room.

There are two bathrooms, a kitchen with an island and seven appliances.

The unit has two storage lockers and parking spots. Monthly fees of $1,186 cover water, heating, concierge and use of building amenities.

Open this photo in gallery:

The agent’s take

“It’s a well-run, well-managed and clean building, the location is phenomenal and the views are beautiful,” said Ms. Saccucci.