Toronto luxury home slashes asking price by almost $2 million

Toronto's luxury real estate market has seen some pretty dramatic price cuts lately, but few are quite as eye-catching as the one at 126 Sherwood Ave.

The custom-built home in the Yonge and Eglinton neighbourhood has earned some accolades, including a feature in Designlines Magazine.

With its impressive architectural pedigree and ultra-luxurious finishes, it's no surprise the property first hit the market last year with an ambitious asking price of $6,650,000.

The living room. 

When we wrote about it last year, the price had already dropped to $6,350,000. Now, the home is back on the market for $4,795,000.

The dining room. 

That's a whopping $1,855,000 less than its original asking price, or nearly 28 per cent off.

A view of the open-concept main floor. 

And while that might sound like a bargain (at least by Toronto luxury real estate standards), there's nothing remotely modest about the house itself.

The family room, which walks out to the backyard. 

Built in 2024 and designed by Arklab, the home, also known as The Vagli House, offers more than 4,000 square feet of meticulously customized living space, with just about every luxury finish you could possibly imagine.

The family room and kitchen. 

We're talking imported German aluminum windows, European white oak floors, custom millwork and enough Italian marble to make a Renaissance sculptor jealous.

The kitchen. 

According to realtor Maggie Lind, more than 30 slabs of hand-selected Italian marble were installed throughout the home.

The Calacatta Vagli marble island. 

The kitchen alone features 12 slabs of Calacatta Vagli marble, including a massive 15-foot bookmatched marble island that practically demands to be the centre of attention.

The powder room. 

And if you're wondering whether there's such a thing as too much marble, this house would argue otherwise.

The staircase. 

Even the architectural staircase incorporates Calacatta Vagli marble detailing.

The fireplace. 

Meanwhile, a 70-inch three-sided Urbana gas fireplace framed in travertine adds another dramatic focal point to the main floor.

One of the bedrooms. 

Upstairs, four bedrooms each feature their own custom millwork, large picture windows, and carefully curated bathrooms.

The primary bedroom. 

But the primary suite is where things get particularly extravagant.

The dressing room. 

Instead of walking straight into the bedroom, you enter through a dressing room with linen-lined cabinetry and custom bone hardware.

The primary ensuite. 

The ensuite bathroom is equally impressive, with dramatic Calacatta Viola porcelain slabs, a custom scalloped oak vanity, European fixtures and heated floors.

The basement recreation room. 

And the luxury doesn't stop there.

The built-in bar. 

The lower level features heated floors throughout, along with a recreation room, guest suite, built-in bar and a second laundry room.

The backyard. 

Outside, the backyard has been transformed into a private resort-like retreat, surrounded by mature greenery that provides some welcome separation from the neighbouring homes.

The pool. 

At its centre is a heated in-ground concrete pool, complete with a waterfall feature and the ability to operate with either chlorine or salt water. The rear of the home also features two composite decks, an oversized stone terrace and a built-in Lynx outdoor kitchen, making the space ideal for summer entertaining.

The family room with the fireplace. 

Automated exterior lighting and irrigation mean there's a little less work involved in keeping everything looking picture-perfect.

A home office. 

Even the parking situation is luxurious. It has a heated garage with an EV charger, direct access to the house, and a heated driveway with room for two additional vehicles.

The all-marble kitchen. 

Of course, even with all that marble, the private pool and the heated driveway, the home has yet to find a buyer at its previous asking prices.

The latest reduction brings the price down by more than $1.8 million from where it started, which is a pretty significant adjustment for a home that's only a couple of years old.

Herringbone white oak hardwood floors. 

But even with that dramatic discount, 126 Sherwood Ave. is still asking considerably more than most homes in the neighbourhood. For context, the average home price in the area is around $2 million, while the highest recent recorded sale is $3,880,000.

The primary bedroom. 

That means the home is still asking nearly $1 million more than the neighbourhood's highest sale, despite its substantial price reduction.

The back of the house. 

But for anyone who's been eyeing this particular slice of Toronto luxury, it's certainly a much more attractive price than it was a year ago.