16 Yonge St., No. 2407, Toronto
16 YONGE ST., NO. 2407, TORONTO
ASKING PRICE: $499,000
SELLING PRICE: $586,500
PREVIOUS SELLING PRICE: $430,000 (2015); $365,000 (2009); $262,830 (2006)
TAXES: $2,635 (2016)
DAYS ON THE MARKET: Seven
LISTING AGENT: Nancie McLeod, Sutton Group Old Mill Realty Inc.
The Action: An asking price under $500,000 was the magic that lured 27 hopeful buyers to this one-bedroom-plus-den unit in the Pinnacle Centre this October. More than 100 parties booked private tours.
"Twenty-seven offers was very unexpected. The most I've had was for a townhouse in Liberty Village with about 15," agent Nancie McLeod said. "The unit sold for $586,500, which was $25,500 more than the most recent comparable sold in May."
What They Got: This 24th-floor suite has a standard plan with full-height windows and sliding balcony doors in the principal room, as well as a U-shaped kitchen outfitted with granite counters and stainless-steel appliances.
There are two bathrooms, plus a storage locker and parking spot.
Monthly fees of $477 covers utilities, concierge service and use of a tennis court, fitness and party rooms.
The Agent's Take: "It was a bigger unit – about 600 square feet – so it had a wider den with a second washroom, so a lot of people talked about making it a second bedroom," Ms. McLeod said.
"Plus, people really like the updated design, such as the paint, wall covering and light fixtures."
Its proximity to attractions and essentials was also vital to buyers. "The amenities in the building are great. I had a rental client that moved to the complex just for the oversized pool," Ms. McLeod said.
"Most people, however, were thrilled with the idea of walking to work."