Welcome to Penthouse 09 at The Verve

Located on Homewood Avenue just west of Cabbagetown, this modern Tridel built condominium was established 2008 as a community.  A full service building with a lobby that is accessed by a discrete glass entrance set back from the street, the drama starts there with a curved staircase featuring a fabulous wood sculpted wall leading to the buildings amenities which include a media room, party room, billiard room, private fitness centre, sauna and set proudly on top of the podium level of the building, an outdoor pool area with a water wall and cabana’s like no other.

Forty floors up, life at the top starts at the entrance to Penthouse 09 with breath taking unobstructed views of the city – south to the downtown core and lake, and west over to Queens park and mid town. 

The suite offers almost 1690 sq. ft of renovated interior space including an open concept living and dining room with a new and beautifully appointed deluxe white kitchen complete with quartz countertops and stainless steel appliances, pendant lights over the island and lots of storage.  The flat ceilings have crown moldings and recessed lights and dimmer switches were installed everywhere.  Fully electronic blinds help to provide sunscreen and privacy.  9-foot high ceilings add to the sense of drama and enhance the million dollar views.

The combined living and dining rooms are perfect for entertaining. From the electric fireplace and the built in Sonos sound system, to the west facing terrace each area is open and enhances the sense of lofty spaciousness.  Set behind double glass doors is the Den – easily converted to an additional bedroom with a uniquely designed Murphy bed system.

The luxurious master bedroom boasts its own private west facing balcony, a large separate sitting room, remote black out blinds, walk in closet and a 5 piece ensuite equipped with Jacuzzi tub for two, stunning glass enclosed shower stall and double sinks set in a granite counter top. 

A second bedroom set off the main hall features a south view of the city, its own walk in closet and a 3 piece ensuite bath, and is down the hall from an enviable laundry room which is set off the entrance foyer.

With enough wall space to showcase a large art collection, if it is space and privacy that you seek, you have truly found it here.  A conveniently located locker and parking with bike racks complete this package.

Inclusions: Stainless Steel LG Refrigerator, Kitchen Aid Microwave, Kitchen Aid Induction oven, Kitchen Aid Dishwasher, LG front load Washer & Dryer, All Electric light fixtures, Ceiling fan, Built-in Resource Furniture rotating Murphy Bed, Sony 65” 4K OLED TV with wall mounting, All built-in California Closet, ceiling speakers, Lutron Electric Blinds. Bike Rack, Parking and Locker

Taxes: $5664.00 2019 

Maintenance Fee: $1048.00 Includes Water, Common Elements, Parking and Building Insurance

Offered for sale at:  $1,699,000

The Virtual Tour

The 3D Tour

The Floor Plan

The Photo Gallery

Click on the city view for the Photo Gallery

Verve Buildings & Amenities Video

REAL ESTATE MARKET REPORT MARCH 2020: TORONTO REGION

Until the Ontario Provincial Government declared a state of emergency, the Toronto and area residential resale market was on course to produce one of the strongest, most robust markets on record, including the establishment of a record-breaking monthly average sale price. All that changed around the middle of the month as people began following provincial health authorities directives: stay home, maintain social distancing, no large gatherings, and of course, wash your hands frequently. When many of Ontario’s businesses were ordered closed, the real estate market didn’t stop, but stalled dramatically.

Even with the collapse of the resale market in the second half of the month, March’s results were still substantially stronger than March 2019. This March 8,012 residential properties were reported sold by Toronto and area realtors, a 12.3 percent increase compared to the 7,132 sales reported last year. Similarly, the average sale price for March came in at $902,680, almost matching April 2017’s record of $920,000. By comparison last March the average sale price came in at $788,133, 14.5 percent less than March 2020. What makes these numbers even more remarkable, is that all the properties that were reported sold took only 13 days (on average) to go from listing to sale. 

What is so disappointing, particularly for buyers, is that March appeared to be the first month in sometime when more much needed listings would come to market. Even with the abrupt hault in the market after March 15th, 14,424 properties came to market, a 3 percent increase compared to the 14,004 that came to market last year. In the second half of the month listings were being cancelled, suspended or moved from the multiple listing service to exclusive listings. By the end of the month, buyers were reluctant to visit properties as open houses became outlawed and real estate brokerages established rigid showing protocols. In order to protect the health and safety of its clients, agents, staff and the greater community, Chestnut Park put into place rigid showing restrictions, only allowing the showing of properties in emergency or exceptional circumstances.

But at the end of the day, March can be differentiated as the pre-COVID-19 and the post-COVID-19 markets. Effectively the date that demarcates these two markets is March 15. Here is what happened in those two markets. 

1. During the first 15 days of March 4,643 properties were reported sold. This represented an eye-popping 58 percent increase compared to the number of sales recorded for the same period last March. 
2. In the last half of the month 3,369 property sales were reported. This is a decrease of 15.9 percent compared to the same period last year. No doubt this is the most dramatic market change in the history of the Toronto and area resale market. 
3. The average sale price for the entire month of March came in at $902,680. During the second half of the month the average sale price for all properties reported sold was only $862,563. During the first half of the month the average sale price was well over $1,000,000. 
4. Even with the almost instantaneous change in market conditions after March 15, the average sale price for the city of Toronto still came in at $987,787, and that number included the reported sale of 1,402 condominium apartments which represented more than 50 percent of all reported sales in Toronto.

PREPARED BY: 

CHESTNUT PARK REAL ESTATE LIMITED, BROKERAGE | CHESTNUTPARK.COM