Toronto mansion from Schitt's Creek is back on the market for almost $20M
The Toronto mansion that makes a brief appearance in Schitt's Creek as the Rose family's home before being repossessed by the bank has been relisted with a new whopping price of nearly $20 million.
The nine-bedroom, 16-bathroom home, called "La Belle Mansion," is located at 30 Fifeshire Rd. in the York Mills and Bayview area and has been on and off the market several times since 2018, with the price likewise fluctuating each time.
And after hitting the market with a price tag of $14,980,000 at the end of August 2020, the mansion has been relisted with a price adjustment of $19,880,000.
"Given the appreciation in the overall market, it may be a strategy play for the sellers and listing agent to attempt to capture an increase in overall market demand," Zoocasa real estate agent Emma Pace told blogTO of why the price likely increased to this degree.
"This particular segment of the market can be one that is difficult to accurately analyze given that, with a price tag of nearly $20 million, the buyer pool isn't quite as vast. All of that said, this is truly a one-of-a-kind, state-of-the-art property."
While the home — built back in 2012 to resemble the Palace of Versailles — has plenty to offer by way of luxurious features, Pace said its most attractive elements include the golf simulator, nanny room with an ensuite, billiard room, gym, wine cellar and location.
The overall square footage also adds to its desirability, she said, as the house — measuring 24,000 square feet — is about 40 times larger than the average downtown one-bedroom condo.
But selling a property like this is far from easy, Pace said, especially since there are far fewer buyers who can actually afford it.
"The sales cycle for a property like this is significantly longer than what one can expect in a traditional market," she explained. "There are fewer buyers, and each buyer needs to be carefully qualified. It absolutely comes with its challenges but it's par for the course given its uniqueness."
Pace added that the attention this property has received thanks to its appearances in Schitt's Creek has provided it with more exposure, which has worked in its favour in some ways but also presented a drawback.
"The downside would be the number of unqualified requests to view the property. It's important to understand that a property of this size and price often has very strict qualification criteria to book a showing (proof of net worth, etc.)," she said.
"As a seller and agent, it is important to ensure the buyers coming through the property are there for interest in actually purchasing the property, not just window shopping for the glamour of the publicity."
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