AND IT WENT FOR - 143 Roxborough Street West - SUMMERHILL
In December, I posted
this 3 bedroom, 2 bathroom apartment with 1 parking spot at 143 Roxborough Street West in Summerhill.
It was a listing of
an apartment that I had posted in October 2012
when the listing photo looked like this...
In 2012, the asking price was $769,000. It sold for $775,000.
Then a week later, the neighbour at
was listed at $865,000. It
Then in 2014,
for $899,000 (though I don't know what it sold for).
And a year later, this condo was back on the market for $895,000. I thought it might be high given the $1,017.60/month fees.
Then in March, I got an email from a reader who said...
It is a co-op. But, apparently, the board has decided to convert the building to condo. I’m not sure that potential buyers realize the costs involved in this type of conversion - about $25,000 minimum per unit and I think there are 4 units- and that doesn’t include the increase to the monthly fees to build up the required reserve fund.
Is it really worth $895,000 + $25,000 (conversion) + $8,000 (reserve fund) = $928,000 ?
Five days later, the price was dropped to $850,000.
Last week, it finally
...
For $838,000.
