If you’re looking for a condo that screams “I have money,” this Yorkville three-bedroom that just hit the market would fit the bill.
Located on the sixth floor of The Hazelton Condos at 118 Yorkville Avenue, this 3,500 sq ft condo is listed for $12,500,000 — making it one of the most expensive units per square foot in the Toronto luxury market.
“This property does have great features, finishes and light-filled expansive views but at $3,631 per square foot, it is one of the highest cost per sq ft in this market segment,” Zoocasa agent Emma Pace told Daily Hive.
For context, a 9,000 sq ft penthouse at the Four Seasons that sold in 2018 is the highest per sq ft sale on record, and it went for just over $3,400 per sq ft. Because of that, Pace says the $12.5 million price tag on this condo may not be realistic.
“While the market has definitely heated up since then, down the street at 50 Yorkville there is a similar condo listed at $12.5 million where you can have the expansive 54th floor views asking just shy of $3,200 sq ft,” Pace said.
“Some ultra luxury condos have been selling for north of $3,000 per sq ft; however, I think $3,600+ is a little bit optimistic considering some of the other properties available in the luxury condo market right now.”
With that said, this Yorkville three-bedroom condo does have some extremely attractive features, including a stunning kitchen, private elevator, spacious bedrooms, and a drool-worthy walk-in closet.
The unit also includes two parking spaces and a locker for extra storage space.
Whoever buys this home, Pace says, will not only need deep pockets, but will likely prioritize living in this particular neighbourhood over having more space elsewhere.
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“A high net worth individual who values lifestyle and is willing to sacrifice on the square footage of a traditional home to live in one of the most luxurious condo dominant neighbourhoods in the country,” she said. “Maintenance fees of $6,685 per month are worth taking into consideration, but if a $12.5 million price tag doesn’t scare a buyer off, $6,685 per month on fees likely won’t be a huge factor.”
The neighbourhood itself is known for being a “hotspot for high net worth individuals” interested in living a luxurious lifestyle.
“Buyers can expect the buyer pool will be smaller but are often pre-qualified by their desire to reside in the neighbourhood,” Pace said.
If someone does buy this unit at the $12.5 million price they’ll certainly be living a luxurious lifestyle — even by Yorkville standards.