Stunning Suite @ VU Condos ($425k) - 2 Bed, 2 Bath, Parking, Locker, 872sq.ft

[GraceCondos]

We're pleased to announce the release of a stunning 2 bedroom condo in VU!

Stunning Suite In Fabulous Vu Condos! Well Designed 872Sq.Ft Floor Plan. Granite Kitchen Counters, Granite Island With Overhang, Stainless Steel Appliances, Decorative Urban Fireplace, Dining Room Chandelier, Bamboo Laminate Floors, High End Frosted Glass Sliding Doors To Master, 10Ft Ceilings & More! Large Master With Ensuite. Unique Bathroom Design With His/Hers Sinks Features Pocket Door That Divides Into 2 Bathrooms For Guests Use.

Fantastic Building Close To St Lawrence Market, Distillery, Financial Core, St. Mike's Hospital, George Brown, King East Restaurants & Shops! Great Gym, Huge Party & Billiards Rooms. Amazing Rooftop With Bbq & Contemporary Lounge Furniture.


Click Here for Photos, 3D Virtual Tour & Floor Plans: http://www.gracehomes.com/14a_read.php?ltl=852690

 

[simuls]

Holy crap! A reasonably priced condo that will still make the vendors some money. Need more of this!

 

[GraceCondos]

@ simuls - Haha... Well said!

The seller is very realistic. We've priced aggressively relative to other similar suites in the building. He's not interested in taking 60+ days to sell his condo. The buyer will get a great condo in an established yet still upcoming area at a fair price.

 

[urbandreamer]

It's still over priced--only the third floor here? Try $420/SF.

 

[simuls]

It's still over priced--only the third floor here? Try $420/SF.

Dude, you clearly are dreaming! ;-)

 

[cdr108]

unfortunately, the floorplan isn't the greatest ... long and narrow ... very typical for this building.

 

[GraceCondos]

unfortunately, the floorplan isn't the greatest ... long and narrow ... very typical for this building.

You should come check it out in person. I find the space is really well used and received similar feedback at the Open House yesterday. But things like layout are subjective, so you'll. Always find some people that like and others that don't because we all use our living spaces differently.

 

[simuls]

Walking straight into the kitchen does totally suck and I can't imagine anyone would like it. Let us know when/what it sells for GC!

 

[GraceCondos]

Suite right next door (same floorplan) just sold for $385k without parking or locker. $40k extra for parking/locker seems reasonable.

Will report back on the success...

 

[simuls]

I hope it does well, but I'm seeing lots and lots of downward price adjustments on the MLS from only the beginning of July. It's possible that you'll only get $25 or $30000 for the P/L.

 

[GraceCondos]

You're right - there have been a lot of price reductions over the Summer. A lot of those sellers had unrealistic expectations or were caught in the old buy before sell trap. Those type of sellers have to adjust quickly and sometime sell below value because of their own situation.

We're seeing a lot of that inventory clear now and with the traditional Fall market coming, more buyers will enter the mix.

I just sold another listing that had been for sale +45 days for 99% of their asking price. We've been doing this for over 20 years, so we k ow not to panic if a listing doesn't sell in 14 days.

Time will tell with this suite. I see a lot of value and think buyers do as well.

Will report back with the results!

 

[GraceCondos]

Update for you guys... Two weeks after we put the suite up for sale, it's sold! The owner is happy, as he only had to discount his asking price by less than 1%.

It's also going to be a great investment for the buyer. This unit is facing the Post House construction site so it was discounted vs other exposures in VU. If the new owner sells afte Post House is done, they won't have to discount as much because there will be no noise/construction.

Happy Condo Shopping Everyone!!!

 

[simuls]

Congrats Grace! Realistically though, while the seller had already priced it "aggressively" and with the further 1% discount, how much less do you think this got now vs. what it would've got 4 months ago? 7-8%?

 

[GraceCondos]

simulus,

He actually got more than he would have if we listed in the Spring. We listed it right when the building registered. Those that sold their assignments before registration sold for less because larger deposits are required - limiting the pool of buyers.

It's neither my, or my clients, first time - so we maximized return.



-Geoff