Someone just sold a parking spot in downtown Toronto for almost $100k
For just $750 more than the cost of an actual condominium apartment near Jane and Steeles, you could be the owner of a parking spot-sized parking spot in the heart of downtown Toronto.
I mean, you could have been, had someone else not beat you to the punch and bought said parking spot under the SoHo hotel for a whopping $85,750.
Toronto realtor Scott Ingram just released a list of the most and least expensive sales in the 416 during 2019, as recorded through MLS.
Concentrating on residential properties in particular, Ingram broke down last year's highest and lowest sales numbers into categories such as asking price, freehold sale price, condo maintenance fees, per cent of asking price, condo storage locker and condo parking space.
"I was curious to see what the most expensive house that sold in Toronto on the MLS was last year, as well as the least expensive. Same for condos. So I looked them up," the realtor and CPA wrote on his website.
"Then I went down a bit of a curiosity rabbit hole and at the end I figured if I was curious, you might be too, so I'm sharing them on this blog post."
The most expensive detached home sold in Toronto last year was a Forest Hill manse for $13,180,000, while the least expensive sale took place in Mount Dennis for just $380,000.
In terms of condos, a swanky pad within Yorkville's Four Seasons Private Residences went for $10,500,000 and, on the low end of the scale, a one-bedroom condo in Black Creek went for just $85,000.
Enter the parking spots — the highest of which sold for freaking $85,750 at 36 Blue Jays Way.
"This is in the same building as the SoHo Hotel & Residences just southeast of King & Spadina, a stone's throw from SkyDome," notes Ingram of why it may have sold for so much. "They were actually asking for $98,800 if you can believe it."
It's also rare to find buildings downtown in which residents are actually allowed to sell off (as opposed to rent) their spots, based on condo board rules. The SoHo condos have no such restriction, making them a rarity in terms of excellent locations from which parking lots can be purchased in the downtown core.
For those who are interested, the least-expensive parking spot sold in Toronto last year was at 2045 Lake Shore Blvd West in Mimico. That spot went for $3,500.
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