Condo prices are down but inventory is up, leaving some totally decent units languishing on the market. Smart buyers are making offers under the asking price—here are four units on which to practice your negotiating skills.
YORKVILLE: 40 Scollard St., unit 1001. (pictured above)
The price: $388,000. Last sold for $283,000 (2008)
Days on market: 114
The draw: New buildings in once-hippie Yorkville can command $1,500 per square foot, so yes, this 600-square-foot unit is entry-level priced. A recent reno smoothed out popcorn ceilings, and added crown mouldings and Scavolini cabinets.
The catch: It’s a classic pre-2000 Toronto condo—the ceilings are kinda low, the kitchen is kinda cramped, and the amazing amenities (squash courts, pool) mean kinda high maintenance fees.
ST. LAWRENCE MARKET: 3 Market St., unit 614.
The price: $579,000. Maintenance fees $434
Days on market: 119
The draw: This two-bedroom unit is spread out over 850 square feet and two storeys, plus a 160-square-foot terrace with gas hookup. The kitchen appliances are stainless and the countertop and backsplash are both upgrades.
The catch: The building will soon hit the two-year-old mark, which often means a maintenance fee hike. The market-adjacent location is awesome for weeknight dinners, but a little overwhelming come weekend tourists.
DISTILLERY DISTRICT: 33 Mill St., #1903.
The price: $339,000. Last sold for $296,800 (2010)
Days on market: 93
The draw: Every one of this single bedroom’s 530 square feet is useful, including the hallway-cum-office nook. The handsome custom kitchen has bamboo cabinets, stainless steel drawers, and an island that doubles as a dining table.
The catch: The outdoor pool on the sixth floor is the nexus of a hard-bodied singles scene. There’s no window in the bedroom, and the view from the balcony is one of tangled highways and another under-construction condo.
KING WEST: 38 Niagara St., unit 903.
The price: $245,000. Last sold for $176,000 (2007)
Days on market: 107
The draw: This ninth floor bachelor is so very downtown, all the way to its view of the CN Tower. Soft-loft details include nine-foot concrete ceilings and floor-to-ceiling windows. A shared rooftop patio offers communal barbecues.
The catch: It’s teeny, it’s tiny—it’s under 400 square feet. You’ll either be sleeping on a Murphy Bed or living in your bedroom. There’s no parking and, more importantly for the storage-impaired, no locker.