PRICE INCREASE - 78 Victoria Park Avenue - BEACHES, TORONTO
Two weeks ago, I posted this 4 bedroom, 4 bathroom house on a 29 x 255 foot lot at 78 Victoria Park Avenue in the east end of the Beaches in Toronto.
It was a house that used to look like this…
It was kind of a typical Beaches house that could use some work. Instead, it was purchased for $1,200,000 in 2017…
And like the house next door at 80 Victoria Park Road that looks like this..
When it was listed 6 years ago for $1,589,000…
This house was giving a modern look and feel.
But, if you took the sold price of that house at $1,589,000 and add a 6% annual compounded interest, and look at the houses as equals, this house would now be worth $2,250,000.
Which is $1,000 more than the initial asking price of this house in November. It didn’t sell and the price was dropped a couple of weeks ago to $1,999,000.
It still hasn’t sold but I guess they feel this is worth a 6% increase over the sold price of the neighbour (not to mention that it is on a larger lot) because the price is back up…
To $2,500,000.
I wonder if they have changed that living room layout.
UPDATE: Since posting this, I have heard from the neighbour at 80 Victoria Park. As I mentioned in my original post about that house, I didn’t know what the inside looked like but that they got a good price.
Thankfully, they have sent in a few photos. Not a lot but you get the idea…
And if those blue poufs look familiar, it is becuase that house was designed by Nicky Hall, the person that designed the house at 108 Wineva Avenue…
That I said at the time reminded me of 80 Victoria Park.
Nicky Hall, who was the star of the 2011 W Network show Sibling Rivalry with her brother, was also the person behind 238 Kenilworth Avenue...
And the house at 726 Gerrard Street East....
So, you can kind of get an idea about what the rest of the house at 80 Victoria Park looks like.
Also, it seems to be slightly narrower but longer…
It will be interesting to see what happens.
