May 6, 2019

Toronto Life – Sale Of The Week

The $3.25-million King West condo that proves big-money buyers love a little extra breathing room

Address: 224 King Street West, Unit 4302 – THEATRE PARK
Neighbourhood: King West
Agents: Dylan Donovan and Kristen Duern, Chestnut Park Real Estate Ltd., Brokerage

Listed at: $3,250,000
Sold for: $3,250,000

The property

A 2,500-square-foot condo next to the Royal Alexandra Theatre.

The history

The building, dubbed Theatre Park and developed by condo mogul Brad Lamb, was completed in 2015. The unit was originally designed as a three-bedroom-plus-den, but the U.S.-based sellers converted the third bedroom into a master walk-in closet. They initially hoped to use the unit as a Toronto pied-à-terre, but they ended up not spending much time here, so they decided to sell.

Here’s the living and dining area:

The kitchen has Wolf and Sub-Zero appliances:

There’s a fireplace in the living room:

The second bedroom was staged as an office:

And here’s the master bedroom:

The master ensuite is lined with marble:

The master bedroom’s walk-in closet used to be an entire bedroom:

The fate

The buyer had been looking at other places in the area. He was attracted to the unique size of the unit and the south-facing views over David Pecaut Square:

The sale

The unit was listed at $3,250,000, the highest ever in the building with the exception of the penthouse. Still, it attracted more interest than is typical for that price point, according to the agents, likely because of its generous size. It sold for the full asking price after eight days on the market, making it the priciest sale so far this year for a condo south of Bloor.

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By the numbers

• $3,250,000
• $10,270 in taxes
• $1,670 in monthly maintenance fees
• 2,480-square-foot interior
• 397-square-foot balcony
• 8 days on MLS
• 3 bathrooms
• 2 bedrooms
• 1 underground parking space