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4 Lowther Ave, No. 704, Toronto

Asking price: $2,980,000

Selling price: $2.9-million

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Previous selling prices: $600,000 (2000); $505,000 (1992)

Taxes: $10,368 (2017)

Days on the market: 69

Listing agent: Andrew Ipekian, Keller Williams Referred Urban Realty

The action

This rare corner unit with two bedrooms and a spacious outdoor terrace with unobstructed views in a boutique building where Yorkville meets the Annex, sold for almost $3-million. Virtual staging was used to sell this penthouse unit at 4 Lowther Ave., which sold for $80,000 under asking after being on the market for 69 days.

During the latter half of the summer, this corner penthouse was heavily promoted, especially to overseas shoppers seeking luxury properties in or near Yorkville. To enhance the look and feel of the partly vacant space, it was outfitted with computer-generated furnishing.

“The home had a higher price point, so the majority of these homes take longer to sell, so I opted for digital staging,” agent Andrew Ipekian said.

“[Now], the technology is much better. It’s life-like, you can’t tell the difference. Most people don’t know.”

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What they got

The upper northwestern corner of a more-than-30-year-old building was reserved for this roughly 2,000-square-foot suite.

The upper northwestern corner of a more-than-30-year-old building was reserved for this roughly 2,000-square-foot suite and its 800-square-foot terrace. The latter is accessible from a sunroom surrounded by windows and a living room anchored by a wood-burning fireplace.

There are two bedrooms and two bathrooms. Rounding out the floor plan is a formal dining area and an eat-in kitchen.

There are two entrances, two parking spots and a storage locker. Each month, fees of $2,816 cover use of water and recreational facilities.

The agent’s take

The penthouse boasts a formal dining area and large outdoor terrace.

“There is an ongoing trend for people looking for condos in boutique-style buildings, such as this one; it’s only seven storeys high. People love the community feel, where the security guard knows you by name,” Mr. Ipekian said.

“It has five-star service with valet parking, a pool, gym, and all the other amenities of other luxury buildings in the area.”

This unit has numerous strengths. “It’s on a penthouse level, it’s a corner unit with wrap-around windows on both sides and it has a real wood-burning fireplace, which, for a condo, is generally unheard of,” Mr. Ipekian said.

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“Last but not least, it has a massive 800-square-foot terrace with no one on top of you, so it’s almost like living in a house.”

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