Chestnut Park Real Estate Ltd, Brokerage
HELEN BRAITHWAITE - BROKER
CHESTNUT PARK REAL ESTATE LTD., BROKERAGE
1300 Yonge Street, Suite 100 Toronto, Ontario M4T 1X3
416-925-9191 | 416-561-3114 helenbraithwaite@chestnutpark.com

Toronto Luxury Real Estate: May 2022 Market Report

A few comments on the market from Chestnut Park Real Estate Ltd.’s President and CEO Chris Kapches

“A notable shift in market dynamics is the change in activity in the 905 region as compared to the 416 (City of Toronto). Throughout the first two years of the pandemic, more sales were taking place and average sale prices were rising faster in the 905 region. This is no longer the case. During the month of May, the average sale price for all properties sold in the 905 region came in at $1,212,806, 1.7 percent less than the City of Toronto’s average sale of $1,233,748. The ratio of sales has also shifted. Last year the 905 region accounted for 66 percent of all properties reported sold. This May, only 62 percent of all properties changing hands were in the 905 region.

These results are not surprising. As more of the greater Toronto area’s population has been vaccinated against the Covid virus, and as the City of Toronto with its many amenities has opened up, the forces driving buyers to move to the 905 region, the need for more space, ground-level housing, and a sense of safety in less dense communities have begun to wane.

May’s market performance should not be misinterpreted as a market “correction”. Most of the economic factors that drove the resale market through the pandemic, and even before, are still at play, primarily the lack of supply and immigration to southern Ontario. Separate and apart from declining average sale prices and unit sales, the market continues to behave as it did before mortgage interest rates began to rise.

In May 18,679 new properties came to market, marginally higher than the 18,593 that came to market last year. All 7,283 properties that changed hands in May did so after spending only 12 days (on average) on the market, marginally higher than the 11 days it took for properties to sell last May. All properties reported sold, sold for 103 percent of their asking price, 104 percent in the City of Toronto. Semi-detached properties in the City of Toronto sold in only 9 days and at 111 percent of their asking price. Semi-detached properties in Toronto’s eastern trading districts sold at 117 percent of their asking price and shockingly after only 8 days on the market.

This is not a market correction. Rather this data reflects a market attempting to come to grips with higher rates, with more to come. Higher mortgage interest rates have had a psychological as well as an economic impact on the market, particularly on those buyers that are mortgage-rate sensitive and struggling with affordability.

Based on May’s performance it would appear that condominium apartment sales will outperform ground-level sales, detached and semi-detached properties. May saw 1,264 condominium apartment sales in the City of Toronto. They sold at an average sale price approaching $800,000. All these apartments sold at 103 percent of their asking price and in only 15 days, only 2 days longer than it took to sell last year. The average sale price for all condominium apartments reported sold last May in the City of Toronto was only $766,462.

At the other end of the market spectrum, properties having a sale price of $2 Million or more, the decline in sales was also not as severe as the overall market. Whereas the overall market declined by almost 39 percent, year-over-year, month-over-month, sales of $2 Million plus properties only declined by a little more than 22 percent, making it clear that not all sectors of the housing market are responding similarly to rising mortgage interest rates.

Looking forward, higher mortgage interest rates will cause average sale prices to decline, but marginally, plateauing during the summer months. The greater Toronto area, and in particular the City of Toronto, has a very high employment rate, and demand remains strong. Unless the Bank of Canada raises the benchmark rate to the point that it drives the currently strong economy into recession, the lack of supply and increasing demand will keep the market strong, and unfortunately unaffordable. When inflation subsides, and the benchmark rate declines, economic conditions and the housing landscape will be very similar to the tight market that existed just before the pandemic became a factor. So what we are witnessing is a hiatus in the housing market, not a correction.


Read more >

Toronto Luxury Real Estate: Marketing and Open Houses

A little about what we do:

We had a whirlwind few weeks launching a premium property for sale recently. It was a mere two weeks from the original meeting with our clients to the sale! Because this property in particular sold so quickly, it made me think that sometimes many people imagine that all real estates agents do is slap a “for sale” sign up and wait for an offer. So I started to think that maybe I need to explain our process of selling a property. We are a concierge real estate service and, as such, there is a lot that goes on behind the scenes before launching a home to market. Things like: decluttering, donating unwanted items, painting, professional cleaning, window and eaves cleaning, pressure washing,  pre-home inspection and small repairs. We also provide a professional stylist who knows how to enhance your home so the property presents at its absolute best level to sell. No HomeSense items here; it’s an extensive inventory of high-quality furniture, accessories and art to make a home sing!

We then provide professional photography, drone photos, floor plans,  a Matterport virtual tour and video of the property. These items are then posted on all of our social media networks and website.  We also provide print ads, mailers and a hard copy, high-quality feature sheet with in-depth descriptions of the home, property and neighbourhood.

One current trend in real estate right now that you won’t see us doing is a video with ourselves in it. We believe our job as realtors is to sell a property and not ourselves. I understand many realtors like to use a listing to promote themselves but our philosophy is that only the property should be promoted. It is the property’s time to shine, not ours!

We hosted our first open house since the pandemic this past weekend. It was nice to see people in person and interact with the public again. Previous homeowners even came to reminisce; the home had belonged to one visitor’s grandmother and she too enjoyed the memories.

A few thoughts for those coming through an open house:

  1. It is ok to say you are a neighbour or just want to lurk. We have an open door policy and believe the more eyes on a property, the more word gets out about it. All ok, so you don’t have to pretend you are looking to buy when you are not!  It just becomes a bit of a time waster for the realtor when in fact there could be someone else viewing the home seriously that may require the realtor’s time for questions.
  2. When you enter an open house it is always nice to identify yourself, for many reasons. We don’t want to hound you but it is good to be able to give a conclusive list of those who attended the open house to the homeowners. If you are a homeowner, I think you would want to have the same respect.
  3. If you have an interest in the home, it is very important to give the name of the realtor you are working with, or your contact information if you are not working with a realtor, in case and offer comes in on the property. The contact information would only be used to let you know of an offer. We do not randomly contact people or add you to our email list unless requested.

Due to our successful preparation and pricing we sold this home in one weekend with two offers!  The market is currently shifting as the economy absorbs higher interest rates and inflation concerns continue to loom. A shifting market is ok as panic buying wasn’t good for anyone. With a changing market, it is important that your home presents at its very best; correct pricing is key as is utilizing the correct strategy for offers received.

Please reach out to us for a comprehensive plan to sell your home for the best price and the fewest days on market. It is important to be nimble and quickly adjust to the changing market. The worst thing to do now is overprice and chase the market down.

 


Read more >

Toronto Luxury Real Estate: 296 Douglas Drive, a Stately Georgian Overlooking Chorley Park


What’s Not to Love About a Centre Hall Georgian? 

Offered for sale at $5,095,000 

This is an incredible opportunity to own a meticulously maintained property overlooking Chorley Park in North Rosedale. The home has been cherished and cared for by the same owners for 20 years.

2  1/2  storeys
5+1 bedrooms
5 bathrooms

The Home

Matterport tour

Floor Plans

Main and second floors,  third floor, lower level and two car garage floor plans

As you cross the threshold, it is clear you have entered a happy home with plenty of natural sunlight. The home boasts a spacious living room and dining room and a gourmet kitchen that is open to a family room. There is a main floor office that is perfect for working from home. Truly the perfect layout for raising a family!

Living Room

  • South and west windows
  • Wood-burning fireplace
  • Crown moulding
  • Hardwood floors
  • Chorley Park views

Dining Room

  • South windows
  • Chorley Park views
  • Crown moulding
  • Hardwood floors
  • Leaded glass east windows

Kitchen

  • Custom cream painted wood cabinetry with black granite countertops
  • Pull-out pantry cupboard
  • Dacor wall oven
  • Miele stove top
  • Dacor warming drawer
  • Built-in Dacor microwave
  • Bosch dishwasher
  • Broan vent hood
  • French door side-by-side Sub-Zero refrigerator and freezer
  • Dark wood chef’s island has Caesarstone light marble-inspired countertop and  breakfast seating
  • Corner double under-mount sink overlooking east window
  • Kitchen dining area with built-in bench seat
  • Open to family room
  • Hardwood floors

Family Room

  • Hardwood floors
  • Gas fireplace
  • North windows
  • Garden views
  • Yard access through rear door
  • Built-in closets and slate tile floor at the backdoor entrance create a perfect mud room area

Office

  • Built-in double desk areas
  • Built-in shelving
  • Walk-out to back stone patio and back garden
  • Gas fireplace
  • Crown moulding
  • Hardwood floors

 

Second Floor

Primary Bedroom

  • Gas fireplace
  • Walk-out to deck that overlooks garden
  • North and west windows
  • Hardwood floors
  • Walk-in closet that accesses the primary ensuite

  • Recently renovated primary ensuite has spa bath luxuries including:
    • heated tile floors
    • white double vanity with stone countertop and under-mount sinks
    • marble-tiled glass shower enclosure has a waterfall shower head and a versatile conventional shower head that doubles as a hand wand for easy cleaning
    • deep soaker tub with marble tile surround
    • east window

Second Bedroom

  • Was the original master bedroom therefore is quite generous in size
  • Wood-burning fireplace
  • South and west windows
  • Overlooks Chorley Park
  • Closet
  • Hardwood floors

Third Bedroom

  • South windows
  • Hardwood floors
  • Overlooks Chorley Park
  • Closet

Fourth Bedroom

  • North and west windows
  • Overlooks upper deck to garden
  • Hardwood floors
  • Closet

Family Bathroom

  • Recently updated in transitional style
  • White double vanity with marble countertops and under-mount sinks
  • Marble floors
  • White tile tub and shower enclosure with glass door
  • Large storage closet
  • East window with California shutters

Large closet for linen storage and off-season clothes outside this family bathroom. The walk-in closet had formerly been a laundry room, an easy to conversion with the plumbing in place.

Third Floor

The fifth bedroom is located on this floor. There is potential to turn this space into a primary retreat.  This spacious loft-style bedroom has ample room for a king size bed and has room for a reading nook overlooking the rear garden.

  • North dormer window with garden view
  • Skylight
  • Broadloom
  • Double closet
  • Three-piece ensuite washroom with antique cast iron soaker tub
  • Wall unit air conditioning unit to supplement the central air conditioning

  • Large cedar closet at the top of the stairs to store off-season clothes

 


Basement

Recreation Room

  • Built-in bookshelves and media unit
  • East windows with California shutters
  • Broadloom
  • Infrared sauna (formerly a wine cellar)

Nanny or In-law Suite

  • Broadloom
  • North window
  • Small workout area or alternative home office space

Three-piece Washroom

  • Single vanity with limestone countertop
  • Glass shower enclosure with subway tiles
  • Limestone tiled floor

Furnace and Laundry Room

  • Storage shelving
  • Maytag washer and dryer
  • Wood’s refrigerator
  • Viking freezer
  • Gas furnace
  • Two hot water tanks rented monthly at $21.12 plus HST per tank ($47.74)
  • Central vacuum

Other Notables:

  • Heritage C rated home in North Rosedale Heritage District
  • Roof redone approximately four years ago
  • Central air conditioning and supplementary wall unit on 3rd floor
  • Basement has been fully waterproofed  (photo documentation available)
  • Excellent Carson Dunlop Home Inspection

Inclusions:

  • All appliances: Miele cooktop, Dacor wall oven, Dacor microwave, Dacor warming drawer, Bosch dishwasher, Broan vent hood, Wood’s refrigerator (basement),  Viking freezer (basement)
  • All drapes and blinds where hung (excluding living room drapes and primary bedroom drapes) Please note window coverings are “as is where is” condition.
  • All hanging electric light fixtures
  • Kitchen bench
  • Basement Casa Life sectional
  • All built-in cabinets throughout the home
  • Central vacuum and associated parts
  • Infrared sauna (basement)
  • Sprinkler system
  • ADT Alarm system (not including monthly monitoring)
  • Garage remote(s)

Exclusions:

Living room, dining room and primary bedroom drapes, all art and home furnishings

The Property

  • Lot size: 52 feet by 121 feet
  • Property taxes $15,798.33
  • Tasteful stone front path and steps to front entrance
  • Beautifully landscaped front garden provides wonderful curb appeal
  • Private side by side drive (see available survey)
  • Two-car garage with key pad entry and garage remotes
  • Professionally landscaped, extremely private rear garden that has been featured on the Toronto Botanical Garden Tour. Incredible shrubs and perennials provide visual interest year round.
  • Automated sprinkler system
  • Stone garden patio for entertaining
  • Privacy fence

The Neighbourhood


296 Douglas Drive is in the heart of North Rosedale overlooking Chorley Park, a tranquil jewel in the city. Just below the park is Evergreen Brick Works, a combination nature preserve and event space. The Brick Works offers a weekend farmers’ market, casual fine dining at Café Belong and a garden centre. It is the perfect spot for a nature walk on the Brick Works trails and there are a variety of interesting events hosted throughout the year. Chorley Park also connects to the extensive Rosedale-Moore Park ravine system where you can enjoy walking, cycling and a true escape from city life right at your doorstep.

Rosedale is a unique neighbourhood as it has a quiet suburban feel yet it is a mere fifteen minutes to downtown Toronto by car or subway.  North Rosedale truly is country living within the city! The Rosedale bus stop is located nearby for those aspiring to leave a greener footprint.

North Rosedale offers the conveniences of Summerhill Market, Rosedale’s Finest, Dolce Bakery, two dry cleaners, a flower shop, a design store and a veterinary clinic all located a short walk away on Summerhill Avenue. Rosedale Park is a few blocks away and has a playground and areas for ping pong, soccer, tennis and baseball, plus skating in the winter.

If you are in the mood for a nice walk, the shops and restaurants on Yonge Street and Roxborough Street are approximately two kilometres away. Rosedale United Church is nearby and many other places of worship are in close proximity. Mooredale House, the local community centre, offers a variety of programs and is nearby on Crescent Road. The Toronto Lawn and Tennis Club, a private sports club, is nearby and the Granite Club is a quick drive up Bayview Avenue.

For those looking for high-end shopping and further fine dining choices, Bloor Street’s Mink Mile and Yorkville are a ten-minute drive or a half hour stroll away.

 

 

 


Read more >

Toronto Luxury Real Estate New listing 19 Lower Village Gate Suite 404

19 Lower Village Gate, Suite 404

This suite is perfect for snowbirds! 

Offered for sale at $1,649,000

About Lower Village Gate 

Welcome to Lower Village Gate, an exclusive gated enclave situated in the heart of Forest Hill. This boutique condo was developed by the prominent Toronto developer Camrost Felcorp and completed in 1986. There are 164 suites ranging in size from 1200 to 1635 square feet. The grounds are beautifully landscaped in a ravine setting. Amenities include a library, outdoor pool with clubhouse, gym, gatehouse with security, and concierge. This is a coveted condo building for those who have lived in larger homes nearby and are looking to downsize and enjoy turnkey living in a well-managed building in the city. The condo is now managed by Crossbridge, a very reputable property management company.

About the Neighbourhood 

Forest Hill is one of Toronto’s toniest neighbourhoods. The lot sizes are large and the treelined streets are home to the mansions of many of Canada’s elite. Two of Canada’s top private schools, Upper Canada College for boys, and Bishop Strachan School for girls, are located in Forest Hill. The neighbourhood has plentiful green space, ravine trails and parks. Winston Churchill Park and the Cedarvale Ravine are both close by. It is also a short stroll to Forest Hill Village which has restaurants, coffee shops, banks, and retail stores. Yorkville or downtown are a quick drive, and there is easy access to the 401 up the Allen Expressway. For those wishing to keep a green footprint he TTC is nearby on St. Clair Avenue.

About the Suite 

Suite 404 provides approximately 1535 square feet of elegance. This tastefully updated space provides spacious living and dining areas, a gourmet kitchen, two generously sized bedrooms and two full bathrooms. There are treetop ravine views from every window with a lovely, covered terrace to enjoy some fresh air protected from the sun. Move right into this renovated suite with its neutral palette, custom kitchen, hardwood floors and updated bathrooms.

Foyer

  • Limestone tiled foyer with front hall double door closet

Main Living Areas 

  • Open concept living and dining rooms designed for entertaining
  • Light maple hardwood floors
  • Built-in shelves to display your books and collectibles
  • Columns provide architectural interest
  • Large windows with ravine views
  • Dining room and living room have sliding doors to outdoor covered terrace
  • Living room windows provide ample natural light into the suite
  • Neutral decor to work with any design style
  • Ravine views

Kitchen

  • Light wood custom kitchen cabinetry with ample storage
  • Granite countertops
  • Large pantry cupboard
  • Hardwood floors
  • Double under-mount stainless steel sink with pullout spray faucet
  • Appliances include Samsung stainless steel double door refrigerator with lower freezer drawer, Samsung stainless steel range with ceramic cooktop, GE integrated microwave and fan, Samsung dishwasher

Principal Bedroom

  • Spacious principal bedroom easily accommodates a king size bed
  • Columns provide architectural interest
  • Walk-in closet and double closets
  • Newly installed quality broadloom
  • Treetop views

Four-piece Ensuite Spa Washroom: 

  • Marble shower enclosure
  • Deep soaker tub with marble backsplash, tile surround and pullout hand shower for easy cleaning
  • Spacious vanity with marble countertop and cream painted wood cabinetry
  • Elegant wallpaper
  • Hardwood floors

Second Bedroom

  • Hardwood floors
  • Ravine views
  • Double closet
  • Easily accommodates a queen bed and office space combined

Second Bathroom

  • This charming washroom services the second bedroom and also acts as a powder room
  • The dark wood vanity with unique, shell-shaped sink and dark marble countertop makes a bold statement
  • Tiled shower enclosure is discreetly tucked behind a curtain that blends with the wallpaper to create a powder room for guests
  • Elegant wallpaper
  • Vintage wall sconces complement wallpaper and vanity

Laundry Room

  • Built-in cabinetry and shelving for storage
  • Tiled floor
  • Whirlpool washer and Whirlpool dryer

Other property information

Floor plans: Suite 404 Floor Plan

Matterport tour:19 Village Gate Suite 404 Tour

Photogallery:19 Lower Village Gate Suite 404

Inclusions: Samsung stainless steel double door refrigerator with lower freezer drawer, Samsung stainless steel range with ceramic cooktop, GE integrated microwave and fan, Samsung dishwasher,Whirlpool washer, Whirlpool dryer, all light fixtures, all drapery where hung (note no drapes present in living room) and bathroom mirrors. Exclusions: All furnishings and art work

Maintenance: $1733.50 which includes most utilities (water, hydro, cable)

Taxes 2021: $5273

Parking:  One car, owned #71

Legal description: Unit 71 Level A  

Locker: A generously sized locker that is more like a room!

Owned #160 Legal description Unit 160 Level A 

Property manager: Crossbridge Condominium Services

Village Gate office 416-483-1240


Read more >

Toronto Luxury Real Estate: Celebrating Ukrainian Design

Like many all over the world, the design community is outraged by what is happening in Ukraine and many architecture firms have halted any building project in Russia as a result. Some  designers show support for Ukraine through creating powerful symbols and imagery. Ukrainian Designer Katerina Korolevtseva speaks out, stating we can’t be silent!

Given what is happening in Ukraine right now I felt it would be nice to highlight Ukrainian designers. Many things we perceive to be Italian are actually the work of Ukrainian designers. There are a few articles that speak to this. Ukraine is a culturally rich country and has long been a great incubator for design. Their design draws on artisan traditions. Below is a quick summary from a recent Dezeen Article  highlighting six Ukrainian designers.

Air – A residential project by Yakusha Design in Portugal

Yakusha Design’s Air Cabin is a Ukrainian design in Portugal that uses natural shades to “ground the serenity of the interior”. In addition to striking architecture, Yakusha Design also has their own furniture line that is showcased at Farina Designs in Antwerp, Belgium. “Live design is the studio’s philosophy and signature approach. Minimalist, yet sensual spaces start with freedom — inner and outer. Deeply connected to nature, the spaces speak through different senses encouraging their guests to feel, not only to look at.”

FAINA Design Antwerp, Belgium

 

Say No Mo Salon designed by Balbek Bureau

Balbek Bureau is a local Ukrainian design firm that designs commercial, restaurant, retail and residential spaces. They designed a local salon to avoid typical gender stereotypes and used concrete and steel for a bold statement.

Virgin Izakaya Bar

Virgin Izakaya Bar was designed by Yodezeen and is located in Kyiv. The design blends existing industrial architecture with contemporary details. “The basic philosophy of our studio is to create individual, aesthetically stunning solutions for our customers by lightning-fast development of projects employing unique styles and architecture.”

 

Breadway Bakery in Odessa, Ukraine

Artem Trigubhak and Lera Brumina worked together to design a whimsical bakery  in Odessa, Ukraine that blends colour and texture. They have also designed a space for a Ukrainian developer’s offices. “We are endlessly inspired and love the architecture of the Soviet period, and we really wanted to create a comfortable working space without violating the architectural context.”

Orange – Olga Fradina

Olga Fradina is a Ukrainian designer who is known for reinventing a small Ukraine apartment to allow for an open living area for the owner to host tea and meditation events. The photo above is of her “Orange” project and I love how the bold blast of orange adds contrast.

Rina Lovko Studio designed a Kyiv Florist shop. Rina had the task of creating the space on a limited budget in a Soviet-era warehouse. She kept things austere using terrazzo concrete fixtures, mirrors and the existing concrete floors.  She is better known for her residential design work in which she always incorporates an element of nature.

“Trees, mountains, music, human being – everything has its own sound frequency and character. This uniqueness is kept as the core line in the studio’s projects. Following her ideals, the architect works only with natural sustainable materials, refusing any kind of imitation.”

These are just six highlighted designers and architects, and I am sure there are many more rising stars in Ukraine. It is tragic to think some of their creations may have been destroyed but it appears the Ukrainian people are very resilient and will work on restoring Ukraine to what it was prior to the Russian invasion.

A few more articles if you are interested:

Best interior Designers In Kiev

Revisting Ukrainian Design Architonic

I have donated to the Red Cross to help the Ukrainian humanitarian efforts during this crisis. The Canadian Government is matching donations until March 18th.  You can also donate to The Humanitarian Coalition or Doctors Without Borders. We have to prepare for an influx of Ukrainian refugees coming to Canada and should consider donating supplies to refugees through local food banks, clothing donations.

My thoughts are with the people of Ukraine and their families. Their resilience and I hope their spirit can guide them through this unconscionable act by Russia.

Helen


Read more >

Toronto Luxury Real Estate: New Listing – 12 Degrees Lofts Townhome

Live Creatively at the 12 Degrees Lofts–Steps to AGO and OCAD University

SOLD

Townhouse 4, 15 Beverley Street *

*also known as  23 Beverley Street

Have the best of both worlds! Townhouse living coupled with all the conveniences of condo living! No elevators required except for parking.

About the Building

Townhouse 4 is located within the 12 Degrees Lofts located at 15 Beverly Street. The condominium was developed by BSaR Group of Companies and completed in 2015 with Core Architects serving as the design firm. The architects felt that due to its proximity to the Ontario College of Art and Design University (OCAD University) and the Art Gallery of Ontario (AGO), the design should be playful, and the AGO being in the same city block became the design inspiration. The building is meant to look like a stack of toy blocks with one of the blocks twisted by 12 degrees from the rest, hence the building name. Fun fact: the 12 Degrees Lofts was voted one of Toronto’s best buildings according to a Toronto Star article in 2019. Kudos to the architects! 

There are 96 suites in the building. The condo amenities include 24-hour concierge, a gym, party room, and bike storage. The building is well-managed by Crossbridge Condominium Services. 

The best part of this building’s common elements has to be the epic rooftop saltwater pool and outdoor entertaining area with BBQs and CN tower views.  

About the Neighbourhood

No car required with a Walk Score 99, Transit Score 100 and Bike Score 99.

12 Degrees Lofts is situated in the heart of downtown Toronto near Grange Park.  For art enthusiasts the AGO is just up the street. There are many world-renowned hospitals nearby including Sick Kids Hospital, Mount Sinai, Toronto General Hospital and Princess Margaret Hospital. OCAD University, the University of Toronto, Ryerson and George Brown College are all within walking distance, as is the Financial District. This location provides so many options for leisure time too! You can take a stroll down to Queen Street to enjoy the shops and restaurants or you can walk up to Kensington Market. The Entertainment District is nearby, and opera, ballet and symphony are a few blocks away at the Four Seasons Centre for the Performing Arts. For live theatre and musical performances, the Royal Alexandra Theatre, the Princess of Wales Theatre and Roy Thomson Hall are all nearby as well. Sports enthusiasts will enjoy proximity to the ScotiaBank Arena and Rogers Centre to watch the Leafs, Raptors or Blue Jays. Lake Ontario is close by too, allowing you to hop on a ferry to enjoy the Toronto Islands or to head out on the waterfront trails. 

About the Townhome

Beverly Street comprises Victorian townhomes so the architects designed the 12 Degrees townhomes to blend in with the  existing streetscape, using a combination of glazed bay windows and stone-clad piers. The interiors of the townhome were designed by Studio Munge. 

23 Beverly is one of the larger townhomes, boasting 1,234 square feet (as per MPAC).

  • 2+1 bedrooms 
  • 3 bathrooms 
  • 1-car owned parking
  • 1 owned locker
  • Direct street access 
  • Second floor access to condo building (required to access the elevator for parking garage and amenities) 
  • Gym and party room are conveniently located on the second floor
  • Engineered light oak hardwood  flooring 
  • Large west-facing glazed windows 

Taxes: $5,114.18 Maintenance: $1,150.87

Inclusions: all appliances, all electric light fixtures, all window treatments, all built-in cabinetry and remaining closet organizers

Exclusions: all furniture, rugs, accessories and wall art

Floor Plans and Photos

Main Floor

A nice part of townhome living is the separation of bedrooms from the living area. 

The main floor is open-concept living with the plus-one room separated by a sliding glass door for privacy.

The living room is open to the kitchen and overlooks Beverly Street. The large wall of west- facing windows allows plenty of natural light into the space. Hunter Douglas top and bottom blinds for both privacy and flexibility.  The neutral decor and light engineered hardwood floors keep the space nice and airy.

The contemporary open concept kitchen is equipped with all you need for the days you aren’t dining out or ordering Uber Eats!

Features include:

  • Dark wood laminated cabinetry 
  • Caesarstone countertops complemented by a whimsical glass tile backsplash
  • Under-mount stainless steel sink with contemporary faucet 
  • Appliances include: Whirlpool ceramic cooktop, Whirlpool oven, Whirlpool stainless steel vent hood, Liebherr fridge, Whirlpool dishwasher, GE built-in microwave
  • There is plenty of room for an island if you so choose

The plus-one provides versatility: a home office, dining area or spare bedroom for overnight guests. A pull-out sofa could provide dual purpose office and guest room. Closets by Design built-in shelving in closet for extra storage. It could also be a spot to put a wine fridge. 

A two-piece powder room is discreetly located by the stairs.

  • Contemporary dark wood laminate vanity drawers
  • Marble countertop
  • White enamel vessel sink 
  • Kohler toilet

The Second Floor 

The upper hall entry has hooks for hanging coats and there is still room for a potential work space.  

Primary Bedroom

  • West-facing large bay window provides wonderful natural light
  • Walk-in closet with organizers
  • Hunter Douglas dual shades with blackout blinds

Primary Ensuite 

  • Contemporary double dark wood laminate vanity 
  • Light marble countertops
  • Two white enamel vessel sinks
  • Double backlit mirrors with centre built-in medicine cabinet
  • Spacious tiled shower with rain shower faucet and glass surround
  • Ceramic tile floor
  • Kohler toilet 

Second Bedroom

  • West-facing large bay window 
  • Closets by Design built-ins in closet
  • Hunter Douglas dual shades with blackout blinds
  • This room can accommodate a queen bed but is also perfect for a nursery or alternative office space

Second Floor Bathroom 

  • Spacious deep soaker bathtub with rain shower faucet
  • Built-in mirror
  • Contemporary light wood laminate vanity
  • Caesarstone countertop
  • White enamel vessel sink
  • Closet for extra storage
  • Ceramic tiled floor
  • Kohler toilet

Other second floor features: 

  • Ensuite laundry closet with stacking Blomberg washer and dryer 
  • Linen closet

Don’t miss this incredible opportunity to be in the heart of downtown in a cool building!

 

 


Read more >

Toronto Luxury Real Estate: Highlighting Toronto-based Core Architects

We thought we should highlight the Toronto-based architecture firm that was the brains behind the Twelve Degrees Lofts at 15 Beverley Street where we are launching our new townhouse listing. This building was voted one of Toronto’s best buildings according to the Toronto Star in 2019.

We are surrounded by condominium towers in this city and some stand our more than others. We were curious as to which condo buildings Core Architect designed and discovered that their designs are prolific throughout Toronto.

“CORE has created award-winning solutions while considering building massing, density, traffic and parking. We incorporate sustainability, green space and amenities that appeal to the urban population, and make these developments economically successful.”

Core has provided over 30,000 residential units in a 27-year period and has proven itself to be a leader in innovative design.

 “CORE has provided architectural services for over 160 multi-residential buildings from 60 storey towers to boutique infill projects of only 8 storeys. These projects have consisted of residential townhouses, low, mid-rise, and high-rise buildings, including several additions and conversions to existing buildings.“

A few examples of other condo buildings they designed (some completed and some under construction at this time):

The One, 75 PortlandFashion House111 Bathurst StreetThe Bond ,The residences of 488 University, The Harlowe,The StanleyDuEast , West Don Landst and The Galleria just to name a few!

CORE has eight residential projects that have obtained or are pursuing LEED® certification: One Park West, Central 1 & 2 and 585 King East (Gold), Six50 King (Silver), 500 Wellington, Fashion House, and M5V (Certified), Six50 King, Toronto (LEED Silver)

They are currently working on Central Park, a mixed-use development at Yonge and Sheppard–an area that has seen an extreme transformation over the past few years. The project, developed by Amexon Development Inc. & York Holdings, will provide 1,478 residential units to that area. We have an exclusive opportunity to buy a condo in Atrium 11 for those ready to enjoy the revitalized Yonge and Sheppard neighbourhood.

It is nice to know we have amazing local architectural and design talent in our city! It helps keep Toronto world-class!


Read more >

Toronto Luxury Real Estate: An Executive Lease Opportunity in East York


88 Leroy Avenue – 
This Home Will Not Disappoint!

LEASED 

Hurray for Leroy! Finally there is a meticulous rental available!

  • Four bedrooms

  • Five bathrooms

  • Two-car parking

  • Attached one-car garage

  • Lot size 32.25 x 100

  • Available on or after March 22, 2022

Please note we pride ourselves on professional photography  and complimentary staging for all of our listings however due to Covid and WFH (Work from home) the owners declined.  We are therefore using the owner’s iPhone photos. Showings are available upon pre-qualification. 

Kitchen has Ceasarstone countertops and tasteful cabinetry. Island has seating. There is a walk out to the outdoor deck.

Primary Bedroom

This in an opportunity to rent a beautiful, recently built detached home. The home has quality modern finishes and is perfect for family living!  Open-concept main floor also has a powder room. There  are lovely hardwood floors throughout and tasteful tile floors in the bathrooms. 

Primary spa inspired ensuite bathroom with free standing soaker tub

The second floor’s primary bedroom has a spa-like 5-piece ensuite with a double rainfall shower and freestanding tub. There are three other bedrooms, one with its own ensuite, and the other two bedrooms sharing a Jack and Jill bathroom. The fabulous basement has a lower living room with gas fireplace and walkout to lovely low-maintenance backyard! 

Included in the lease: all appliances, window coverings, Ring doorbell, home alarm system, electric, barbecue, shed, bunk beds.

MLS E5479623

Lower level has a modern gas fireplac

 

Bedroom 2

 

Bedroom 3

Bedroom 4

Children’s bathroom

Laundry is conveniently located on the second floor

Upstairs hallway note the gorgeous hardwood floors

 


Read more >

Toronto Luxury Real Estate: A Boutique Condo in North York

ATRUIM II, 65 Spring Gardens, Suite 1506

Now on MLS

Offered for sale for $1,195,000

This is a unique opportunity to buy in the Atrium II, 65 Spring Gardens. This is a coveted condominium building where many suites sell without going to MLS.  This suite is very spacious, offering 1,810 square feet of living. The suite has a large open-concept living area, spacious kitchen, three bedrooms, three bathrooms and one-car parking. A blank canvas to reinvent the space for family living or as a downsize opportunity. Newer construction doesn’t offer this size of unit at this price point! The condo building is steps to all the shops and restaurants of  Yonge and Sheppard.
The link to floor plan and more photos below.

65 Spring Garden Avenue-1506 photos and floor plans

The Atrium II amenities include party/meeting room, pool, gym, squash courts, rooftop pool. Please note this building has a no pet policy with the exception of service animals.


The Yonge and Sheppard area of North York has undergone a real transformation over the past few decades and the area has become a sought-after, revitalized uptown location for property buyers. The Yonge and Sheppard Centre underwent an extensive transformation designed by Quadrangle Architects. Quadrangle created a contemporary facade that spiced up was was an outdated shopping plaza. As well, the shopping centre increased the number of shops and amenities during this overhaul.  There is a daycare, new food court, and an LA Fitness. Whole Foods and LCBO are close by in the Hallmark Centre, another development that has added to the vibrancy of Yonge and Sheppard. From the Yonge and Sheppard station it is less than a half hour subway ride to get to downtown Toronto. Yonge and Sheppard has amazing highway access with the 401 right there. It is 20 minutes to Pearson International Airport and a quick exit from Toronto to your cottage or ski chalet.

If you have any further questions or would like to see this suite in person please do not hesitate to contact Michelle Phillips mphllips@chestnutpark.com.


Read more >

Toronto Luxury Real Estate: December 2021 Market Report

The December 2021 Market Report Courtesy of Chris Kapches, President and CEO of Chestnut Park Real Estate Limited

In 2021 we experienced an unprecedented residential resale market. More records were shattered in 2021 than in any other year of record keeping – sales prices, properties sold, and, unfortunately, inventory levels all established new records. As we end 2021 and move into 2022, it will be inventory that will have the greatest impact on the resale market.

Let’s begin with December’s data.

Sales declined in December as compared to 2020 only because of a lack of inventory. Demand continues to be at record breaking levels, but to put it bluntly, there just weren’t enough properties on the market for buyers to purchase. That is dramatically illustrated by the fact notwithstanding declining sales, the average sale price for all properties sold, including condominium apartments, came in at $1,157,849, 24.2 percent higher than December 2020.

It should be noted that increases in average sale prices were substantially higher in the 905 region as compared to price increase in the City of Toronto, as the chart below clearly illustrates.

The increase in average sale prices in the 905 region during the pandemic has been nothing but stunning. As forecast in a monthly Market Report earlier in 2021, the difference in average sale price between properties in the City of Toronto and the 905 region has all but disappeared. The reasons for this market change are due to the pandemic driving buyers away from the denser concentration of population in the City of Toronto, the ability to work remotely, affordability, and supply. It would now appear the attraction of supply and affordability may no longer exist.

The luxury end of the resale market also broke records in 2021. In December 473 properties traded hands having a sale price of $2 Million or more. Last year only 287 properties sold in this price category. On a year-to- date comparison, 7,807 properties valued at $2 Million or more sold in 2021 compared to only 3,649 last year, an increase of 114 percent. Sales in the 905 region in this category contributed substantially to this increase in 2021. Detached property sales in Oakville, King, Richmond Hill, Whitchurch-Stouffville and Uxbridge all came in with average sale prices in excess of $2 Million, with King approaching an average sale price of $3 Million. Historically this only happened in central Toronto.

 

Throughout the greater Toronto area average sale prices continued to be eye-poppingly higher than asking prices. This is also a strong indicator of demand, first witnessed after buyers adjusted to the protocols of viewing and buying properties during the first wave of the pandemic in May and June of 2020. For example, in Oshawa, all properties presented to the market sold in only 9 (yes 9!) days at sale prices 121 percent of their asking price. The case was the same in Pickering. Two trading areas in Toronto also exceeded sale prices of 120 percent or more than asking prices. We are short of superlatives to describe this phenomenon.

In 2021, the condominium apartment sector came back very robustly after pandemic fears in 2020 caused it to shrink dramatically. With that revived interest in condominium apartment living came rising prices, and perhaps most shockingly, the disappearance of condominium apartment inventory. In central Toronto, where most condominium apartments are located, 977 sold in December, last year over 1,000 apartments sold in the same trading area. The decline was due to lack of supply. On the price side, those 977 condominium apartments sold for $790,611, almost 20 percent higher than last December’s average sale price of $669,000.

The decline in condominium apartment supply over the course of 2021 has been breathtaking. In December of 2020 there were 4,294 active condominium apartment listings in the greater Toronto area, and 3,120 in the City of Toronto, the bulk of those to be found in the central core of the city. As 2021 comes to a close, there were only 1,488 active listings in the entire greater Toronto area and a paltry 1,189 in the City of Toronto, 20 percent fewer than the 1,447 condominium apartments that sold in December! The only source of affordable housing is disappearing.

Overall, 2021 proved to be the strongest year in recorded resale history. Total number of sales for the year came in at 121,712 surpassing 2016, the previous best year, by more than 7 percent. In 2016 113,040 properties traded hands. During 2021, except for January ($966,068) every month saw the average sale price exceed $1 Million, with November setting a new record at $1,163,287. A truly exceptional year!

How the market performs in 2022 will depend entirely on supply. December’s numbers are not encouraging. During December 5,174 new properties came to market, almost 12 percent fewer than came to market in 2020. What is even more shocking is the fact that entering 2022 there are only 3,232 active listings for the entire greater Toronto area, more than 46 percent of which are condominium apartments. By contrast last year there were 7,892 active listings which at the time we reported were totally inadequate to meet the growing pandemic demand.

Many economists have deemed 1996 to be the year that the Toronto and area market broke from its six year recessional slide and began to show signs of strength and robustness that have continued through to today’s market. That year set a record for sales at 55,779. In 1996 the population of the greater Toronto area was approximately 4.2 million people. Since then the population of the greater Toronto area has grown to well over 7 million people. In December of 1996 the Toronto Real Estate Board reported that there were 16,964 active listings available to buyers in the greater Toronto area. At 3,232 active listings this December, we find ourselves with only 1⁄4 of the listings available to buyers in 1996, and we have a lot more buyers.

So supply will be the major driver in 2022. As immigration numbers to the greater Toronto area will continue to increase, even more supply will be necessary. It will take aggressive, innovative, and rapid thinking, planning and decision-making by all three levels of government alleviate this housing crunch.

CITY OF TORONTO MARKET STATISTICS


Read more >