New buyers of Summerhill townhouse will face special assessment for planned work on windows
The three-storey townhouse has a 1,770-square-foot plan.This condominium townhouse near Summerhill station has many desirable qualities that were lost on buyers scared off by pending repairs and rising interest rates. Two potential buyers turned those drawbacks into leverage in negotiations and one prevailed with a bid that came $79,000 under the $1.549-million list price.
“The complex is about 35 years old, so there is some required upgrading, and the next thing to be done are windows, so there’s going to be an upcoming assessment, and we had to discuss that and reveal it to the buyers,” said agent Lucille Chenoweth. “We had two offers, and a couple were talking about bringing something it, but mortgage rates were changing, so they were dragging their heels.”The dining area has sliding patio doors, and ceilings that open to an upper den and living room.This three-storey townhouse has a 1,770-square-foot plan with a street-level entrance and two-car parking accessed through a recreation area in the basement.
The kitchen is open and updated with new cabinetry, an island, stone countertops and stainless steel appliances. The adjacent dining area has sliding patio doors and ceilings that open to an upper den and living room. The latter also features a wood-burning fireplace.The private terrace and garden area.“The big selling feature was the private terrace and garden area with nice shrubs and trees,” Ms. Chenoweth said. “There are only three units that have that much privacy.
Few townhouse complexes are also located in such a prime area. “The reason it’s so popular is because it’s literally a two-minute walk to Yonge Street, the subway, shops and restaurants,” Ms. Chenoweth said.to help you stay on top of news on the housing market, mortgages, the latest closings and more. Sign up today.