Buyer cuts a deal on older Yorkville condo

900 Yonge St., No. 1103, Toronto

Asking price: $1,799,000 (February, 2023)

Selling price: $1,735,000 (March, 2023)

Previous selling prices: $1,450,000 (January, 2019); $720,000 (May, 2016); $430,000 (June, 2006)

Taxes: $4,094 (2022)

Days on the market: 19

Listing agent: Olena Feoktistova, Bosley Real Estate Ltd.

The action

The suite has wall-to-wall windows in the bedrooms and principal rooms.Bosley Real Estate Ltd.

The Residences of 900 Yonge building is almost 40 years old and most owners are long-term. The appearance of this two-bedroom unit on the market gave outsiders a rare opportunity to stake a claim at a spot just 40 metres south of the Rosedale Club in Yorkville. Open houses attracted dozens of visitors but it was a guest on an individual tour who quickly presented a $1.735-million offer.

“People settle down there, they’re not jumping from one property to another,” said agent Olena Feoktistova.

“It is very difficult to find a unit in good shape, in Yorkville, in a building with reasonable maintenance fees.”

What they got

The galley-like kitchen has marble countertops and stainless steel appliances.Bosley Real Estate Ltd.

This 1,735-square-foot suite has wall-to-wall windows in the bedrooms and principal rooms.

There’s a fireplace in the living room. Nearby, the galley-like kitchen has marble countertops and stainless steel appliances.

There are two full bathrooms and a laundry room with a basin, plus two parking spots and a storage locker.

Monthly fees of $1,720 pay for water and heating, 24-hour concierge, and a rooftop terrace.

The closing date is June 12.

The agent’s take

“Most units are a bigger size with similar floor plans, however, most units haven’t been renovated,” Ms. Feoktistova said.

“[Previous] owners removed the walls and made the unit open concept, which added more space, more volume and more light.”

Amenities in the 15-storey tower are also top notch, yet monthly fees are 35- to 50-per-cent below nearby highrises.

“The building is very well managed, which is why they can keep the maintenance fees reasonable, approximately one dollar per square foot,” Ms. Feoktistova said.

“The management completed the renovation of the lobby and will be busy with renovation of the hallways and common areas, so it gives the building a feeling of an expensive hotel.”