Several early low-ball offers for this Yorkville condo were rejected out of hand.Harvey Kalles Real Estate Ltd.
1 Yorkville Ave., No. 4503, Toronto
Asking price: $1,399,000 (February, 2025)
Previous asking price: $1,399,000 (September, 2024)
Selling price: $1,360,000 (April, 2025)
Taxes: $8,162 (2024)
Property days on market: 213
Listing agents: Robert Greenberg and Andre Kutyan, Harvey Kalles Real Estate Ltd.
Agent Robert Greenberg said to be on Yorkville Avenue for under $1,200 a square foot is a "score."Harvey Kalles Real Estate Ltd.
The action
In a luxury high-rise tower at the corner of Yonge Street and Yorkville Avenue, agent Robert Greenberg was recruited to sell seven units of excess inventory. He staggered the release of three identical, 1,155-square-foot, two-bedroom units last year, none of which had ever been occupied. This one, on the 45th floor, spent months on the market and did receive offers, but they were substantially less than the asking price.
“They all went down in price in time,” said Mr. Greenberg. “I did have some people throw ‘stink’ bids. One wanted to buy two of them as an investment for a ridiculous price, like $2.2-million, which is like $1.1-million each.”
Of the three units released last year, the one on the 44th floor sold for $1.379-million last July and the other, on the 46th floor, sold for $1.37-million in February. Finally, this one cut a deal at $1.36-million in April.
“[Buyers are] in stall mode, even today,” Mr. Greenberg said.
“[Prices] could go down another 5 per cent in six months because there’s a glut of condos for sale.”
What they got
The unit features an open kitchen along with a dining and entertaining area at one end.Harvey Kalles Real Estate Ltd.
This four-year-old unit has a wide and shallow layout with an open kitchen, a dining and entertaining area at one end. There is hardwood flooring, floor-to-ceiling windows, and a side door to a west-facing balcony.
The outdoor space can also be reached from the primary bedroom. It also has the convenience of a walk-in closet and a four-piece bathroom.
The unit comes with a storage locker and parking spot. Monthly fees of $974 cover 24-hour concierge and amenities, such as an outdoor pool and rooftop deck.
The 45th floor condo also comes with hardwood flooring and floor-to-ceiling windows.Harvey Kalles Real Estate Ltd.
The agent’s take
“To be on Yorkville [Avenue] for under $1,200 a square foot is a score,” said Mr. Greenberg.
“[But] it didn’t have great views, looking right into a new building under construction … and that had a big bearing on the price as well.”