80s condo had price, size advantage

By Elli Davis, July 29, 2011

40 SYLVAN VALLEYWAY, NO. 613, TORONTO

Asking price: $388,000
Selling price: $378,000
Taxes: $2,218 (2010)
Days on the market: 17

The Action: In a boutique building off Avenue Road, which is home to fine shops and restaurants, this two-bedroom penthouse racked up nearly 40 private showings.

40 Sylvan Valleyway

What They Got: In one of the only condominium residences built in the 1980s, this sixth floor suite displays granite counters and tiled floors in the kitchen and broadloom carpeting in the bedrooms and combined living and dining area, which has a balcony facing east.

The master suite has access to the outdoor space and one of two four-piece bathrooms. The price of the unit includes laundry machines, a storage locker and underground parking.

There is a monthly fee of $699, which covers all utility and cable costs and operation of a gym, squash court and recreation room.

The Agent’s Take: “It was a good sized two-bedroom and two-bathroom [unit] and the price range was excellent being under $400,000 in a very hot area,” says agent Elli Davis. “There are some newer [condos] north of this on Avenue Road … but they’re more money.”

This suite also had distinctive perks. “It was surrounded by trees, so it had a residential feel to it,” says Ms. Davis. “The other appeal was that it was on one level, whereas in this building, many of them are on two levels.”

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