PRICE DROP - 20 Elm Avenue - ROSEDALE (1 Comment)

This is a 6+1 bedroom, 9 bathroom, 8,760 square feet above grade and 2935 square feet below grade house with a detached 3 car garage on an 80 x 229.25 foot lot at 20 Elm Avenue in South Rosedale.

It is the home to the Bank of Montreal's COO, Frank Techar, according to the June article about the house in Toronto Life magazine.  

According to a 2004 Globe and Mail article, this house was built in 1898 for Mary Davies, the daughter-in-law of William Davies Sr., a meat-packing magnate from Canada Packers which later merged with Maple Leaf Mills (the company which became what is now known as Maple Leaf Foods) founded my William Harris, former owner of the house at 450 Pape Avenue...  

This house was designed by architect Frederick H. Herbert who has an extensive list of Toronto buildings in his portfolio.

In 2000, the former owners of this house began a restoration of the house with architect William Mockler & Associates, now called Drawing Room Inc, and builder Den Bosch & Finchley.

It is a fully updated house with an elevator, a lap pool, and bathrooms that look like they may have been redone since the 2000 restoration.

When this house was featured in the Globe and Mail in 2004, the asking price was $8,900,000. According to Toronto Life, the current owners bought the house in 2006 for $7,500,000.

In June, it was listed for $11,700,000.

This was a MUCH better renovation than the house at 166 Crescent Road...

That was initially listed at $11,388,000 in October 2013 and eventually sold for $7,888,000.

And this is a more up-to-date reno than the house at 6 Beaumont Road...

That was listed at $8,900,000 in 2013 and eventually sold for $7,814,718.

But those were both larger, ravine lots.

This is still a huge lot.  But it is not a ravine lot so a $11.7 asking price was probably a little high.

It has not sold and has just had a price drop.

The asking price for this house is now $9,950,000.

Hmmm.