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: Iconic Chairs

Those of you who know me know that I love a quality chair! This month I would like to highlight some of my favourites.

First and Foremost

Poltrona Frau’s Vanity Fair Club Chair

Poltrona Frau is the epitome of fine quality Italian design, and this chair has become the emblem of Poltrona Frau. Based on the designs of Renzo Frau, it was originally called Model 904 when it was first conceived in 1930. It was renamed the Vanity Fair in 1983. The chair is constructed of solid seasoned beech and the padding is hand-shaped vegetable horsehair and rubberized horsehair. Poltrona Frau leather is world-renowned and has been used for exotic car interiors. I have always loved the classic look of this chair that can suit both a contemporary and traditional setting. It is the perfect chair in which to sit and read, and the accompanying ottoman is a must.

Eames Lounge Chair

This Mid-century icon has stood the test of time and it certainly put Charles and Ray Eames on the radar for their timeless design.  Many have tried to knock them off over the years but the genuine Eames luxury and function can not be replicated. It is the perfect chair in which to recline and take a power nap! What an elegant addition it would make to any home den.

 

Ball Chair –  Eero Aarnio Made by Adelta

The Ball Chair was created in 1963 by Eero Aarnio and presented at the International Furniture Fair in Cologne in 1966. It has become one of the most famous Finnish design classics. This chair is like a cocoon for those easily distracted by external noise. It is on my wish list for sure and I have even thought of a spot where it could work in our home. The issue is that they are very large, so a wide doorway is needed to get them inside. This is one of the reasons they are best suited to an industrial loft space. Studio Pazo has an original for sale, however they are very pricey!

Barcelona Chair

Iconic Barcelona chairs can be found in the Mies van der Rohe-designed towers in downtown Toronto. They are both comfortable and a statement piece with the striking chrome frame juxtaposed against the soft leather seat and back. I recently learned that their design is based on ancient Egyptian folding stools.

Mies van der Rohe designed this chair for his German Pavilion at the Barcelona Exposition of 1929. The Pavilion was the site of the inaugural ceremony for the German exhibits at the exposition, and the Spanish king was to preside. It had to be an “important chair, a very elegant chair,” according to the architect. “The government was to receive a king. . . . The chair had to be . . . monumental. In those circumstances, you just couldn’t use a kitchen chair.”  

Although only two Barcelona chairs were made for the German Pavilion, the design was put into production and became so popular that, with the exception of one sixteen-year period, it has been manufactured since 1929. * MOMA website

The Womb Chair

I generally prefer leather upholstery as you can just wipe off spills, and it is hardy yet still very comfortable. The Womb Chair is an exception, however. For some reason I feel this piece needs to be fabric as when you sit in one it is like being enveloped in a big comfy sweater.

The Womb Chair was the genius of Eero Saarinen who is also known for his stunning marble Saarinen tables and matching Tulip chairs. This chair was designed in 1946 when Florence Knoll challenged Saarinen to create a chair she could curl up in. I would say this chair met the challenge!

Egg Chair

The Egg Chair is another cozy spot for reading, and in my mind, it too should probably be fabric not leather. “In the midst of other designers working with more industrial materials Arne Jacobsen focused on the upholstered armchair, believing it could be reinterpreted through a modernist lens. The Egg (1958) proves so. A molded piece of foam sits beneath the upholstery, creating the chair’s fluid curves. Sitters can turn toward a conversation area or away thanks to the swivel base and the chair also tilts back for lounging. This is the authentic Egg Chair by Republic of Fritz Hansen. Made in Poland.” DWR

I would say Arne Jacobsen was successful in this re-interpretation of a fabric chair!

One theme you will notice among my chair choices is that every one of them exudes comfort. Great design is both form and function! These are only a few of my favourites in a long list of timeless chair designs.

Helen Braithwaite


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Toronto Luxury Real Estate: May 2021 Market Report

The Toronto real estate market continues to perform well but we are off the record breaking sales that were seen in March, which were unprecedented. Below you can read and watch Chris Kapches’ Market Report for May 2021 for full details. Infographics for different property types in the City of Toronto are also found below.

The Toronto and area residential resale marketplace continued its slide towards a more normal but still very strong market. In May 11,951 properties were reported sold, a decline of more than 12 percent compared to the 13,650 properties reported sold in April, and a decline of more than 23 percent compared to the record breaking, stratospheric 15,646 properties sold in March. March’s numbers were, I believe, the zenith of the pandemic market, just before Ontario’s vaccination program was rolled-out.

I reiterate, that notwithstanding these declines, the market remains very strong by historic standards and May’s average sale price of $1,108,453, which includes more than 2,700 condominium apartment sales throughout the region, is an all-time record. May’s average sale price was almost 30 percent higher than last May’s average sale price of $863,583. In absolute dollars, a stunning increase of $245,000 in just 12 months. This record-breaking average sale price is clearly stretching the affordability limits of Toronto and area buyers.

Although the number of sales declined over the past two months, the pace of sales did not. In May it took only 11 days for all properties that came to market to be reported sold. At the end of May there were only 1.2 months of inventory for the entire greater Toronto region. The number was a little higher in the City of Toronto (1.6 months) due to the preponderance of condominium apartments in the City.

Condominium apartment sales have surged during 2021, and although comparison to 2020, at least until the month of June are not meaningful, in May the 1,881 condominium apartment sales recorded in the City of Toronto were almost 160 percent higher than last May’s results. With this surge in sales, sale prices for condominium apartments have also increased. The average sale price for condos in the City of Toronto came in at $716,976, a 6.3 percent increase compared to last year. In the City’s central core, where most of the region’s condominium apartments are located, the average sale price came in at $766,462, making Toronto’s least expensive housing form fairly pricey.

The price of detached and semi-detached property sales in the City of Toronto reached eye-popping levels in May. The average price for detached properties came in at $1,716,272, and $1,326,153 for semi-detached properties, increases of 20 and 16 percent respectively compared to last year. Average sale prices in the 905 region were not as high – $1,331,176 for detached properties, and $915,479 for semi-detached homes – however, from a percentage standpoint they exceeded the increases in the City of Toronto. In the 905 region detached property sale prices increased by 41 percent while semi-detached increased by 28 percent over the same period last year, a reflection of buyers fleeing to the suburbs, seeking more space and a sense of safety, at prices for less than can be found in the City of Toronto.

Affordability and supply will continue to moderate the Toronto and area marketplace as we move towards the second half of 2021. The region’s average sale price of $1,108,453 is making Toronto and area very pricey, and except for condominium apartments, beyond the reach of most buyers. To some extent that has been one of the reasons for the pull back in the market since March. Affordability will become even more relevant as the higher mortgage stress tests are applied beginning in June.

In May 18,586 new listings came to market. Sellers were clearly taking advantage of the record-breaking selling prices. The growth of the Toronto and area inventory levels will have a moderate impact on average sale prices, as stretched buyers discover that they have more choice than during the early months of 2021. The combined impact of tighter affordability and more inventory should see the marketplace continue to level off, consistent was “normal” pre-pandemic markets.

Prepared by Chris Kapches, LLB, President and CEO, Broker 

Chestnut Park Real Estate Limited, Brokerage


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Toronto Luxury Real Estate: A Unique Opportunity in North Rosedale, 58 Astley Avenue

An Opportunity to Own a Handsome North Rosedale Duplex or Convert to Single Family!

58 Astley Avenue is a stately centre hall home with beautiful curb appeal. It currently functions as a duplex but can easily be converted to a single family home.  The home has exceptional bones, exudes character and is awaiting a new owner to either retain the duplex (lower level tenant would be happy to stay) or create their dream home in an exceptional neighbourhood.

Upper Suite

Comprises the second and third floors of the home, side door entry.

  • 1,905 square feet of living area
  • Main floor tiled foyer with staircase to the second floor living space
  • Hardwood floors throughout
  • Wonderful light-filled staircase with skylight
  • Perfect area for office space at the top of the stair landing


Living Room

  • Large east-facing window
  • Spacious
  • Walk-through to the kitchen
  • Open to the hallway

Dining room

  • South and east facing windows
  • Hardwood floors

Kitchen 

  • French country decor
  • Breakfast bar
  • Coffered ceilings
  • Maytag stainless steel range with ceramic cooktop
  • Maytag stainless steel fridge
  • Samsung dishwasher
  • Caesarstone countertops
  • West-facing window
  • North-facing window
  • Spacious enough for a small table

Second Floor Bedroom

  • East-facing window
  • Fireplace

Three-piece Washroom, Second Level

  • Shower
  • Toilet
  • Pedestal sink

 

Primary Bedroom

  • Third floor
  • East facing
  • Skylight

  • Walk-in closet with great storage
  • Four-piece washroom with freestanding tub
  • Large east window

Third Bedroom

  • East-facing
  • Skylight
  • Built-in bookshelves

Other Features

  • Large storage closet accessed from upper hall
  • Frigidaire washer and dryer (side by side)
  • Pot lights
  • LG Slim Jim wall air conditioning unit on third floor

Matterport Tour

Main Floor Suite

  • 1,o85 square feet above grade and 990 square feet below grade
  • Front door entry
  • Antique chandelier in foyer
  • Large hall closet with antique wood doors
  • Hardwood floors on the main floor
  • Four-piece washroom

Living Room

  • Wood burning fireplace
  • Built-in bookshelves

Dining Room 

  • Sun-filled with south and east facing windows
  • Could be a lovely family room for a single family home

Kitchen

  • Walk-out from the kitchen to a lovely deck and flagstone yard providing perfect outdoor space
  • Kitchen appliances include: Kenmore fridge,  GE stove, GE dishwasher, Kenmore microwave, garburator
  • French country cabinetry with Arborite counters
  • Exposed brick wall

Main Floor Bedroom

  • Antique chandelier
  • East-facing windows
  • Closet
  • Could be dining room for single family home

Lower Level

  • Bedroom
  • Living area
  • Laundry room with Frigidaire washer and dryer
  • Storage area with built in shelves

Matterport tour for the main floor suite

Other Notables

  • 3,000 square feet above grade with 973 square feet on the lower level
  • Newly built front deck with wood composite
  • Most windows replaced in 2017
  • Radiant heat
  • LG Slim Jim wall-mounted air conditioning
  • Two owned water heaters
  • New efficient boiler 2021 (lease to own $165 per month)
  • An above average Carson Dunlop home inspection available to review and one page summary 
  • This is a duplex on MPAC but we do not warrant the current retrofit status.

Property Details

  • Private rear garden with stone scape and back deck for entertaining
  • Front porch is another perfect outdoor entertaining area to sit and enjoy a socially-distanced drink with neighbours
  • Lot size: 64 feet x 83 feet
  • Taxes: $7,160.47
  • Generous two-car parking on driveway  (permit parking $293.90 paid annually)

FINANCIALS

  • The current rental income from the main floor unit $2,836 per month (lease expires August 1st) and $4,800 per month for the upper unit (tenant is month to month) for a total of $91,632 annually for the property.
  • Utilities:
    • Toronto Hydro $130
    • Enbridge $2175 -$840 for the insurance plan = $1672

FLOOR PLANS

FLOOR PLAN ALTERNATIVE FOR SINGLE FAMILY HOME*

*for illustration purposes only

About the Neighbourhood

58 Astley is in the heart of North Rosedale and just steps to 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 Moda, 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 kilometers away. Rosedale United Church is nearby and many other places of worship are in close proximity. Mooredale House, the local community center, 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.

Co-listed with Jeff Knight,Sales Representative 


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Toronto Luxury Real Estate: Carlos Ott and His Unique Style of Architecture

Residents of Lytton Park are likely quite familiar with 138 Lytton Blvd, a Cubist house in complete juxtaposition to the rest of the neighbourhood. Architect Carlos Ott resides here while in Toronto. Traditionalists are probably not fans of this architecture; in fact someone included it on a twitter thread of Toronto Ugliest buildings. I actually find the design quite clever in its use of symmetry and would love to have an inside tour of this unique piece of architecture. I love to go digging to find articles on interesting properties but this one remains a mystery. I can only seem to locate images of the exterior facade.  I hope this home comes up for sale one day so I can see the interior architecture.

A little about Carlos Ott:

“Carlos Ott was born October 16, 1946, in Montevideo, Uruguay. In 1971, he attended the University of Uruguay, School of Architecture. In 1972 his Master of Architecture & Urban Design was earned at the School of Architecture, Washington University at St. Louis, Missouri.

Carlos Ott was a consultant for NORR Partners Ltd., Architects and Engineers, Toronto, On., from 1983 to 1991. His previous positions included being a designer for Baldwin & Cheshire, Atlanta, Georgia; an associate of Moffatt & Kinoshita Architects, Toronto, On., from 1974 to 1979; and manager of Architectural Design and Development for Cadillac Fairview Corp. Ltd., Toronto, On. from 1979 to 1983.

He is a member of the Institute of Francais de l’Architecture, Paris 1983; Royal Architectural Institute of Canada, Ottawa 1977; Toronto Society of Architects 1977, Assn. De Arquitectos, Uruguay 1971.

Mr. Ott’s academic awards include: Fulbright-Hays Fellowship, US State Dept., Grant to outstanding foreign student for post-graduate studies in US universities, 1971; Spanish culture institute, Grant for urban studies, Madrid, Spain, 1973; Chevalier des arts et des letters, Paris, France, 1985; Washington University, distinguished Alumni award, St. Louis, Missouri, USA, 1986; Chevalier de La Legion d’ honneur, Paris, France, 1989; Fellow of Ontario College of Art, Toronto, On., Canada, 1994; Professor of the International Academy of architecture, Sofia, Bulgaria, 1994.

In 1991 he was chosen by the President of France as the Architect of the Opera Bastille to commemorate the 200th anniversary of the storming of Bastille in an international competition, from 744 competition entries. He runs offices in Toronto, ON, and Monaco.” NEW VISION ON ARCHITECTS  by Zak Ghanim Architects


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Toronto Luxury Real Estate: April 2021 Real Estate Market Report

April 2021 significantly performed year over year but that was due to fact the market was on hold April 2020 due to the pandemic. April’s real estate performance wasn’t quite as robust as March 2021. Here is Chris Kapches, President and CEO of Chestnut Park Real Estate Limited’s Market update:

Market reports rely heavily on comparisons to the same month the year before. Comparing April 2021 to April 2020 would be pointless. Last April we were in the darkest period of the Pandemic. Buyers, sellers, and their realtors were developing and adapting to new, restrictive, and demanding industry protocols. As a result, there were fewer properties available for sale and even fewer sales. As a result, it is much more fruitful to look at what unfolded just this past March and compare it to April’s market performance.

March 2021 was an all-time record breaking month both for the number of properties reported sold and the average sale price. April 2021 could not keep pace with the torrid March market. Having said that, April was itself record breaking, setting a new record for reported sales for any previous April. There were 13,663 homes reported sold, 12 percent fewer than the blistering 15,652 that were sold in March. There was also a marginal decline in the average sale price. March’s average sale price came in at $1,097,565. Although still eye-popping, April’s average sale price dipped to $1,090,992.

The decline in price was across the board for all housing types, except condominium apartments. Detached, semi- detached, and townhouse property prices all declined, albeit marginally. In April the average price for detached properties came in at $1,699,756 (a 3 percent decline from March), semi-detached at $1,288,005 (a 1.5 percent decline), and townhouses at $942,371 (a 2 percent decline).

The outlier was condominium apartment sale prices. In April 3,290 condominium apartment sales were recorded, a considerable decline from the 3,821 reported sold in March, a decline of almost 14 percent, contributing substantially to the overall decline in market sales as compared to March. However, while sales declined, prices increased, both in the City of Toronto and the 905 region. The average sale price for City of Toronto condominium apartments came in at $727,137, up from the $707,835 achieved in March. In Toronto’s central districts, where most of the greater Toronto’s condominium apartments are located, the average sale price came in at $781,471, a number not far off average sales prices for condominium apartments pre the Pandemic.

So, what does all this data tell us about the Toronto and area marketplace? Firstly, it was impossible that March’s pace could be exceeded or even equaled for a second month in a row. Since the beginning of 2021, 47,157 properties in the greater Toronto area have changed hands. Historically this is an unprecedent pace. What April’s data tells us is there has been tremendous buyer absorption during the last few months of 2020 and now into the first four months of 2021. Bluntly, the market is running out of buyers. With no immigration since last March, and with many city dwellers moving to secondary markets during the Pandemic, the number of potential buyers is declining.

As to the average sale price, it appears that it too may have reached a pinnacle in March. Between 2019 and March 2021, average sale prices have increased by more than 20 percent. Household incomes have not. A recent study indicated that the decline in mortgage interest rates over the same period has boosted the price that buyers could pay for properties by 22 percent. It is not coincidental therefore that average sale prices have increased by more than 20 percent over the same period.

Subject to an increase in migration to the Toronto area from other parts of the country and a return to pre-Pandemic immigration levels, the market has probably plateaued and in fact we may see a slight decline in sales as we make our way to the latter half of 2021. Similarly, unless there are declines in mortgage interest rates, the average sale price has plateaued at approximately $1,100,000. Looming on the horizon is the more restrictive mortgage stress testing effective June 1, 2021, which will place further restrictions on buyers’ borrowing power.

 

 


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Toronto Luxury Real Estate: Laneway Housing

Lanescape: Leslieville Laneway House

This month I thought it would be interesting to discuss laneway housing. It has been a long haul, but the City of Toronto is finally open to the idea of laneway housing to help deal with the housing shortage and its effects on affordability. Land in Toronto is finite and vertical solutions for housing have been underway for so long that Toronto is known as the crane capital of the world! Not everyone wants to live in a high rise, however, so the option for an “in-law” suite above a garage or a laneway home is very appealing to many.

Lanescape Danforth Village Laneway House

Laneway housing is only permitted on residential (not commercial) properties and only possible within the City of Toronto and East York Districts at this time. The first step to qualifying for a laneway house is based on fire truck access to the laneway.

Lanescape Geary Avenue design

“There must be a minimum width of 0.9 m of unobstructed access to the Laneway Suite and must be within 45.0 m of curb access from a fire hydrant. If the distance to the nearest public hydrant is greater than 45.0 m, then a private hydrant may be required.”

Additionally, there are requirements regarding setbacks and regulations regarding both a minimum and a maximum distance from the main residence.

The Toronto Laneway Bylaws and Guidelines has a very comprehensive list of requirements before a laneway home is approved.

A recently completed Toronto laneway house is located in Corso Italia. MacKay Laneway House  is collaboration of Globizen and Gabriel Fain Architects. Glovizen is behind the development of Junction House .

Globizen McKay Laneway House design, Corso Italia, Toronto

It is exciting to see the City of Toronto move forward with this effort. If you have a property that you think may be suitable for a laneway house there is a Toronto-based company, Laneway Housing Advisors that can do the necessary research on your behalf to see if your property qualifies.

Lanescape is a Toronto company that focuses purely on the design of these types of dwellings. They have some interesting designs completed in neighbourhoods throughout the city including Riverdale, Leslieville, Cedarvale and Seaton Village.

There are two programs offered by the City of Toronto: the Laneway Suites Program and the Development Charge Deferral for Ancillary Secondary Dwelling Units. Both were created as an incentive for property owners to create more housing supply.

It shall be fun seeing some creative designs unfold in Toronto for this type of dwelling!

When reading an article by Brandon Donnelly it came to my attention that in Los Angeles County they have approved Accessory Dwelling Units (ADUs) in order to address the housing crisis. They have chosen to work with just a few designs that one can chose from to streamline that process. Los Angeles standard plan program’s approved plans . Because of the milder climate the building codes would not be as restrictive but they have quite a range to suit anyone’s style.

I am curious as to whether Toronto will work to streamline laneway designs. Toronto is an older city and has quirkier lots sizes so it would be harder to create blanket laneway house designs. I will continue to watch this program with interest.

Lanescape house in Cedarvale

Helen Braithwaite


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Toronto Luxury Real Estate: March 2021 Market Report

Toronto’s real estate market defied all odds to post a record breaking March! Below you will find the market update from Chris Kapches, President and CEO of Chestnut Park Real Estate Limited.

Just when you think the Toronto residential resale market can’t reach new heights, it surprises us again. March was not only strong but it shattered records, something that is becoming a common occurrence.

In March 15,652 homes were reported sold, an all-time monthly record and 97 percent more than the 7,945 properties sold last March. Even considering that the second half of March 2020 was impacted by the implementation of Covid restrictions, March’s results are nothing but extraordinary.

Not only was sales volume record-shattering, but so was the average price. The average price for Toronto and area came in at an eye-popping $1,097,585, the highest average sale price ever recorded. This number is even more impressive when it’s remembered that it included the sale of almost 4,000 condominium apartment units, the least expensive homes on the market, averaging less than $700,000.

The average sale price was unequivocally driven by the unbelievable number of high-end properties that were reported sold. In March 982 properties having a sale price of $2 Million or more changed hands – also a record! By comparison, only 245 sold in this category last year, obviously a number dampened by the effects of the pandemic’s restrictions during the last half of the month.

The speed at which properties sold was also record-breaking. All 15,652 properties reported sold in March came to market and were sold in only 13 days. There are no market descriptors that can define this phenomenon. At one time it was the eastern trading districts in Toronto, in particular Riverdale, Leslieville, and the Beaches, that had speed of light sales. Now sales are taking place even in the 905 region at an incredible pace.

In March condominium apartment sales continued a resurgence that began at the end of 2020. Condominium apartment sales increased by 87 percent in the City of Toronto and by 100 percent in the 905 region compared to last year. Although average sale prices increased in the 905 region by 13.5 percent to $607,000, they remained flat in the City of Toronto at $707,000.

March had a bright spot for stretched and frustrated buyers. In March 22,709 properties came to market, a much-needed increase in inventory, and 57 percent more than March of last year. It would appear that sellers are becoming eager to capitalize on the incredible prices that were achieved this month.

This runaway market gives rise to a variety of issues. There is the issue of sustainability. The average sale price reached a lofty $1,097,565 in March, almost $200,000 higher than it was a year ago. Average household income has not increased proportionately. Far from it. Even more worrisome, at the date of preparation of this Report, (April 8th), the average sale price in the City of Toronto was even higher at $1,106,000, including condominium apartment sales.

When the sustainability of the housing market becomes an issue, it generates government scrutiny. Government intervention inevitably leads to unwanted consequences, as past government intervention has clearly demonstrated. So there is talk of a capital gains tax on principal residences and even a speculation tax. The best solution is an organic one – namely the market moderates itself because households become incapable of paying higher prices, and more inventory comes to market. We are beginning to see signs of both of these developments.


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Toronto Luxury Real Estate:New Rosedale Listing: 31 Edgewood Crescent

31 Edgewood Crescent

Welcome to Locksbrook (yes, this house has a name!)

31 Edgewood Cres from Treefort Media on Vimeo.

Full photo tour

This white and bright designer’s own home exudes charm and sophistication. It is situated on one of the best cul-de-sacs in Rosedale where there is a strong sense of community among the wonderful neighbours. This offering is the perfect entry into this signature neighbourhood for a young family or could be a generous pied-à-terre for a couple.

As you walk through the door you are greeted by the old world charm of a stained glass transom window, “31 Locksbrook”, installed by the previous owners who wanted to name the home for a street in England where they had lived.  The foyer has the feel of a New York City brownstone with rich blue-black walls and checkerboard tiled floors. As you cross the foyer’s threshold you enter an elegant, light and warm space that has been tastefully and beautifully updated while still retaining the original charm of the home. 

From the living room, there is a walk-out to a lovely, low-maintenance, fully fenced backyard. It is predominately a deck space with room for a comfortable sitting area as well as a generous outdoor eating area and some attractive planters. The living room’s focal point is a beautiful wood-burning fireplace and there are built-in shelves to display collectables, books and photos.

  • Walk-out to backyard deck
  • South-facing windows
  • Wood-burning fireplace
  • Oak hardwood floors

The tasteful dining room is well-proportioned and has lovely west-facing natural light flowing in. A fireplace adorns the end of the dining room, creating perfect ambience for a winter dinner party.

  • South-facing windows
  • Coffered ceiling
  • Wood-burning fireplace with marble surround, white painted wood mantel
  • Oak hardwood floors

The renovated kitchen is conveniently tucked behind the dining room with a clever pocket door. One can either close off the kitchen for an intimate dinner party or leave the door open for access to the counter for buffet-style serving. The white kitchen and Carrara marble countertops create a pleasing and neutral design scheme.

  • Franke double sink with east-facing window above
  • Bosch dishwasher
  • Miele gas cooktop
  • Miele fan hood
  • JennAir fridge
  • White cabinetry
  • Carrara marble counters
  • Discreet pocket door to connect kitchen to dining room
  • Stair access to the basement and side entry door

The main floor is completed by a convenient and updated  two-piece powder room just off the front hall.

  • Toto toilet
  • Waverly pedestal sink
  • Mirror
  • Tastefully wallpapered

There is also a coat closet located under the stairs that is quite deep for added storage.

A brightly sunlit white staircase leads to the second and third levels with leaded stained glass windows above each landing for added light. Oak hardwood floors are continued up to the second floor and the third floor stairs have a cream wool broadloom.

Second Floor

The second floor includes the main bedroom and an upper family room or bedroom, depending on the requirement. 

The main bedroom has a lovely two-piece ensuite with a large marble shower, a tasteful vanity and marble floors. Tucked behind the ensuite is a lovely sun-filled space that can be used for an office, a Peloton or yoga area, or an extension of the ensuite.

  • West-facing windows
  • Fireplace (never used)
  • Crown molding
  • Oak hardwood floors

Main Bathroom Ensuite

  • Elte Soho collection bath fixtures
  • Elte white composite vanity
  • Spacious shower enclosure
  • Oak hardwood floors
  • White subway tile shower wall and marble tiled shower floor
  • Heated floors

The third bedroom on the second floor was converted to a generous closet with ample storage space for any fashionista. (There is potential to convert back to a nursery if required).

  • White built-in closets
  • South-facing window
  • Crown molding
  • Oak hardwood floors

The north-facing bedroom has worked well for the current owners as an upper den but with two closets and wonderful light, there is the option to create a stunning bedroom.

  • South-facing window
  • North-facing bay window
  • Crown molding
  • Oak hardwood floors
  • Double closet, one with double hanging and one with shelving

There is also a three-piece washroom.

  • White subway tiles
  • Crema marble floor
  • Toto toilet
  • Tub and shower with glass partition
  • Heated Floors

The second floor also has a generous linen cupboard.

Third Floor

The third floor has two bedrooms and a washroom.

The north-facing bedroom could be either an office space or a child’s room. There is a perfect spot for a bed centred at the window, and the sloped ceilings create a cozy feeling while still permitting space for a dresser or desk. In the hallway, there is a generous closet with storage space and hanging bars to service this bedroom.

  • Cream wool broadloom
  • North-facing window

The west-facing bedroom is spacious with a large closet with storage, sink and washer/dryer. This closet/laundry area could easily be converted to a closet and ensuite washroom instead. 

  • Cream wool broadloom
  • West-facing windows

Laundry Room

  • Maytag washer and dryer
  • Built-in white cabinetry
  • East-facing window
  • Spacious storage closet for seasonal items

Third Floor Washroom

  • White tile shower with tile bench seat
  • Waverly pedestal sink
  • Toto toilet

Lower Level

The lower level is the perfect spot to send the kids to hang out to watch some TV or just relax. There is ample space for a sectional sofa and also a bar area with counter space, cupboards and a fridge to tuck away some snacks and beverages. The low-maintenance painted concrete floors make for easy clean up. The lower level could be converted to a nanny or in-law suite.

  • Three-piece washroom
  • Double bank of closets for storage
  • Danby range
  • Danby fridge
  • Cupboards
  • There is a room plumbed for a laundry room to complete the lower level if a walk-in closet or ensuite on the third floor is preferred


The utility room is tucked behind the laundry area.

Notables:

  • Many of the hot water radiators have been updated on the main and second floors. There is a new NTI boiler in the utility room in the basement
  • Mitsubishi “Mr. Slim” air conditioning unit in third floor stairwell
  • 100 amp service
  • Oak hardwood floors installed in 2019 on main and second floors
  • Master bathroom renovated in 2019
  • Original solid core hardwood panelled doors through out the home (some have been removed but are stored in the utility room for future use if needed)
  • New wool broadloom installed in 2021 on third floor

Property Details

The Neighbourhood

31 Edgewood Crescent is in the heart of North Rosedale and just steps to Chorley Park, a tranquil jewel in the city. Just below the park is Evergreen Brickworks, a combination nature preserve and event space. The Brickworks offers a weekend farmers’ market, casual fine dining at Café Belong and a garden center.  It is the perfect spot for a nature walk on the Brickwork 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 Moda, 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 kilometers away. Rosedale United Church is nearby and many other places of worship are in close proximity. Mooredale House, the local community center, 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.


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Toronto Luxury Real Estate: New Listing – 129 Walker Avenue

THIS PROPERTY HAS SOLD!

4 days on market for above asking price

Welcome to 129 Walker Avenue!

Matterport Tour

This meticulously maintained semi-detached house checks all the boxes. As you walk through the door a sense of calm passes over you. The abundance of natural light couples with the neutral decor to soothe the soul!

Main Floor

The formal living room is separated from the casual living area at the rear of the home by a stately staircase and elevator tucked in for convenience. The living room features a lovely gas fireplace with stone surround and large east-facing windows.  Coffered ceilings add a touch of elegance to this space. There is a lovely view of the attractive staircase banister from this room.

The open concept kitchen exudes luxury with exceptional finishes including marble countertops, marble backsplash and white custom cabinetry by Altima Kitchens. Quality appliances including a Wolf range with stainless steel fan hood, a white-panelled Miele refrigerator and a Miele dishwasher complete the space. A bonus feature is the pot filler conveniently located above the range. There is a vast kitchen island where any aspiring chef can enjoy preparing meals. The island seating makes the perfect breakfast spot or a place where guests can socialize with the cook and enjoy watching meal prep. There is a pantry cupboard nearby to store your kitchen staples and also tuck appliances away.

The family room and dining area are open to the gourmet kitchen with a wall of windows on both south and west sides of the room and built-in cabinetry for your TV, books, etc. This space is truly the heart of the house.

The main floor three piece powder room is a show stopper!

  • A large frosted glass window provides both privacy and natural light
  • Black marble countertop
  • Black vanity
  • Gold fixtures
  • Whimsical black and white wallpaper
  • Toilet

Other main floor notables:

  • White oak hardwood floors
  • Crown molding
  • Walk-out to side garden
  • Large south and west windows create a light and bright living space
  • 10′ ceiling height
  • Nest Studio hardware
  • Hunter Douglas blinds
  • Private elevator servicing all floors

Second Floor

9′ ceiling height

Primary Bedroom

Sweet dreams are to be had in this spacious primary bedroom! This room easily accommodates a king size bed and generously-sized side tables. There is ample storage with a both a walk-in closet designed by California Closets and built-in custom cabinetry which also provides a spot for the TV.  Large west-facing windows allow the sunlight to shine in during the day and there are blackout blinds for sleeping.  

  • Hunter Douglas shades
  • Oak hardwood floors
  • Crown moulding

Primary Ensuite Washroom

There is a trendy glass-enclosed wet room within the master ensuite with a separate shower as well as a stunning freestanding white acrylic tub for those nights when you want to unwind. #Funfact from the homeowners: the lip of the tub is the perfect size to hold a wine glass!

  • Marble tiled walls
  • Heated marble floors
  • Custom grey vanity with double undermount sinks and marble countertop
  • Toilet

Second Bedroom

This bedroom has large east-facing windows, oak hardwood floors and crown molding. There is a three-piece ensuite washroom with custom vanity and marble details throughout. A shower with glass enclosure and white subway tiles complete the space.

Third Floor

9′ ceiling height

Third Bedroom

This room offers a great vista over the neighbourhood! It could also serve as a fabulous work-from-home space or guest suite. It has large east-facing windows, oak hardwood floors and crown molding.

Upper Family Room


This is the area of the house where the current homeowners love to unwind. It is the perfect spot to binge-watch the latest Netflix show while looking out across treetop views and the De La Salle sports field. The upper family room has a walk-out to a fabulous terrace with a gas hook-up. It is a wonderful spot to entertain. The elevator certainly comes in handy to bring food and serving items up for your BBQ as well as transport any guests attending.

Third Floor Four-piece Washroom

  • Single sink vanity
  • Combined tub/shower
  • White subway tiles
  • Tiled floor
  • Toilet


Basement

7’10’ ceilings

There are two generously-sized rooms with quality broadloom installed in 2018 by the current owner. They could could function as spare bedrooms, gym space, home offices or provide extra storage. This lower level is designed to let you fill those rooms according to your needs.


Laundry

A spacious laundry room with playful patterned tiles makes laundry day a little brighter!  The large LG washer and LG dryer are built in to custom white cabinetry with upper cabinets for storage. The stainless steel undermount laundry sink has a pullout faucet.

Built-in Avantgarde wine cooler for wine or other beverages.

A  three-piece washroom services this floor and features:

  • Glass-enclosed shower with white subway tiles
  • Single sink white vanity and toilet
  • Tiled floor

This basement is all about flexibility. It can be what you want it to be!

The Property

The property is modest in scope but has been exceptionally maintained. Tasteful horizontal stained board fences and a custom container to hide the garbage and recycling bins create an enclosed side yard area with gate access. The current owner installed artificial grass for care-free maintenance. If you are seeking a low-maintenance home in lieu of a condo, this checks the box.

  • Two-car private drive
  • Side yard with artificial grass for low maintenance
  • Outdoor terrace with treetop views on the third floor
  • Taxes 2020: $13,241
  • Lot size: 29 feet wide by 53 feet deep
  • Carson Dunlop home inspection is available for review

Inclusions: Wolf range, stainless steel fan hood, white-panelled Miele refrigerator, Miele dishwasher, LG washer, LG dryer, Avantgarde wine cooler, central air conditioning, ADT security system (monitoring fee applies if assumed), Hunter Douglas window coverings, electric light fixtures, extenders for internet and alarm system.

Exclusions: all art and furnishings

The Neighbourhood

The Summerhill neighbourhood is a perfect mix of young families and mature couples who have left their larger homes to be closer to the action. The anchor of this neighbourhood is the flagship LCBO which was created from the former North Toronto train station.  It is a stunning heritage building designed by Darling and Pearson. The iconic clock tower acts as a beacon for the neighbourhood.

There are lots of nearby options for restaurants. Terroni’s deck is a coveted lunch spot in nice weather. Other popular dining spots include Capocaccia, Quanto Basta, Brownes Bistro, Sorrel, Rosedale Diner and Avant Gout.

129 Walker Avenue is situated at the quiet part of Walker Avenue yet still provides excellent walkability to the shops and restaurants on Yonge Street. Summerhill subway station, trendy Boxcar Social, NutBar and Impact Kitchen are at the end of the street.

Nearby Harvest Wagon, Olliffe, Nadege and Pisces Gourmet fulfill all of your grocery needs and there is also a Loblaws just up Yonge Street at St. Clair.

SpinCo and Ultimate Fitness are both a quick walk away so you have no excuse not to get that workout done!  Toronto Lawn and Tennis, York Racquet Club and the Badminton and Racquet Club are also in close proximity.

Lionel Conacher Park is the closest park, however Ramsden Park and David Balfour Park are also nearby.  The Beltline trails, Mount Pleasant Cemetery and Rosedale-Moore Park ravine systems are easily accessible for those wishing to enjoy outdoor time whether cycling, running or walking.

Shopping is plentiful with clothing boutiques Tuck Shop Trading Co., Narwhal, Augustina, Thursdays and Lemonwood all nearby. Some fabulous home furnishing shops are also in the neighbourhood including Absolutely, Absolutely North, Putti, Decorum, Third Knot and Hopson Grace.

For young families seeking a home in the coveted Cottingham School district this is it! De La Salle School is in your backyard and UCC, BSS, Branksome Hall and Greenwood College School are nearby also.

Empty nesters, this is the perfect urban space for an alternative to condo living that is close to the action and TTC yet tucked into a lovely neighbourhood.

 

 


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Toronto Luxury Real Estate: February 2021 Market Report

We have made some format changes to your Market Statistics Infographics this month. We have added more details for all property types as well as details on each category for the 416 area of Toronto.

CHRIS KAPCHES  Market Report

Is it really February? The Toronto and area residential resale market certainly did not behave as if it was. Actually, it was more reminiscent of a crazy spring market, and even then, it outdistanced most spring markets that we have recently experienced. In February 2021, 10,970 properties were reported sold in the greater Toronto area. To put that number into perspective, no month in 2019 came close to 10,970 sales. The strongest month for sales in 2019 was May at only 9,951 reported sales, and that was an excellent month! By comparison to February 2020, also a strong month at 7,193 sales, February 2020’s performance was 52.5 percent stronger.

It will surprise no one with such robust sales activity that prices were also sharply on the rise in February. In fact, the average sale price for the greater Toronto area shattered the $1 Million threshold for the first time, finishing the month at $1,045,488, almost 15 percent higher than the average sale price of $910,142 achieved last year. It is interesting to note that the average sale price for the City of Toronto came in lower at $995,201. That was due to the 2,167 condominium apartment sales that were recorded. These lower price point properties acted as a drag on the City of Toronto average sale prices.

Detached and semi-detached property sales in the City of Toronto were extremely active and at a strong prices. Expect to pay almost $1.7 Million for a detached property and $1.325 Million for a semi-detached home – if you can find one. The supply of detached and semi-detached properties in Toronto is at an all-time low. In February, 915 detached properties were reported sold. By March, the inventory of detached properties was down to 938 homes or only 1 month of supply. The supply of semi-detached properties has reached a critical state. In February, 295 properties sold in this category. By the beginning of March, only 181 semi-detached properties were on the market, only .6 months of supply – an unprecedented number.

Sales of every housing type, including condominiums, were strong. This was particularly true for higher-priced properties. In February, 597 properties having a sale price of $2 Million or more were reported sold. Comparisons to previous years are staggering. In 2020 only 266 properties in this price category were sold, and in 2019 a mere 193. Sales in February 2021 were a shocking 125 percent higher than sales at this price point in 2020.

Condominium apartment sales were also very strong in February, posting results 63.2 percent higher than last year. While sales increased, the average sale price continued to decline by 6.4 percent in Toronto but rising by 5.4 percent in the 905 region. It is the decline that is relevant in that 70 percent of all condominium apartment sales are in the City of Toronto. The decline in average sale price in the City’s core, where most sales are recorded, was even lower, down by 10 percent compared to last year.

February’s resale market was like no other we have experienced. Going forward we can anticipate more of this, at least until March and into April, however sustaining 15 percent price increases (higher in some districts) will be difficult. Even with historically low mortgage interest rates, affordability will become (is?) a concern. On the positive side, February saw new inventory increase by over 40 percent compared to last year. If the pace of new listings coming to market continues, more consumer choice should see prices begin to moderate. But currently, with only 1.5 months of inventory, price moderation is still some months away.

Enjoy the Market Watch video with Chris Kapches, President and CEO of Chestnut Park Limited.

Best,

Helen


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