$17M home was designed by architects behind award-winning Toronto museum

It may seem odd that a $17 million estate is being sold for land value, but that's precisely the case with 50 Park Lane Circle in Toronto's prestigious Bridle Path area. 

"It’s listed at land value, but yet it is a multi-generational home where each principal room is duplicated entirely with different designs and decor," realtor Barry Cohen told blogTO. 

The original bungalow was built by a prominent charitable family in Toronto. 

The main floor with a living room, dining area and a wet bar. 

Later it was renovated by architecture firm Moriyama Teshima, which has been behind some of Canada's most visually striking buildings like the Aga Khan Museum, the Scarborough Civic Centre and the Toronto Reference Library revitalization. 

The impressive wall of windows that were added as part of the addition. 

The renovation added a two-storey rear addition, which is stunning with cascading windows that overlook the backyard and the ravine the home backs onto. 

The circular staircase. 

The three-storey wall of windows brings in so much natural light that it looks like a greenhouse. 

The ravine 50 Park Lane Circ. backs onto. 

And that's not the only impressive detail. 

The foyer. 

From the hand-cut marble flooring to the grand circular staircase, there are plenty of details to fall in love with. 

A living room on the second floor with a fireplace. 

Later on, the property grew again. 

An aerial shot of the property. 

"[It] became a family compound of sorts when the family expanded, which gave rise to the building of the additional residence," said Cohen. 

A bedroom. 

Now, the estate boasts eight bedrooms and 16 bathrooms. 

The pool. 

There's also an elevator, dumbwaiter, many fireplaces, and a pool complete with an outdoor washroom and two change rooms. 

The dining room. 

But as cool as this house is, the listing notes that you could build a home that's up to 44,000 square feet. 

An aerial view of the lot. 

That's because 50 Park Lane Circ. sits on almost 2.5 acres of land, with its generous 200 by 531-foot lot.

A living room with a circular fireplace. 

In short, there's more than enough room to build the mega-mansion of your dreams if that floats your boat. 

A retro kitchen. 

But it would be a shame to lose such a unique home. 

An open concept living and dining area. 

Yet, that's probably what's going to happen, as it is the Bridle Path, after all. 

The bungalow and the second property. 

50 Park Lane Circ. is listed for $16,800,000, down $1 million from its original listing price of $17,800,000.

Another living and dining space in this multi-generational complex. 

And even with the $1 million price drop, that is a lot for "land value".

The back of the house. 

But just for some context, the average house in this neighbourhood goes for over $16 million.

A water feature in the garden. 

Also, most of those homes don't have nearly the kind of property size 50 Park Lane Circ does.  

An aerial shot of the house. 

So when you think of it that way, 50 Park Lane Circ. might actually be a bargain.