One of Toronto's Best Kept Secrets
Friday Jul 15th, 2016
ONE OF TORONTO'S BEST KEPT SECRETS
The Residences of 112 St. Clair Avenue West
Address: 112 St. Clair Avenue West
Neighbourhood: St. Clair Corridor
Most Recent Price per Square Foot: $858 PSF
The Property: 112 St. Clair is a premier, boutique condominium in mid-town Toronto, located between Avenue Road and Yonge Street on the north side of St. Clair. Comprising of only 20 luxurious residences, 112 St. Clair is 100% owner occupied - a rare find in Toronto's condo world and a truly unique aspect of this exclusive building. Each individual suite is highly customized to ensure that no two suites are the same. All suites have 10' coffered ceilings, crown mouldings, large baseboards and generously appointed with marble, granite and hardwood floor. The interior features two sided gas fireplaces and premium gas burners. The large terraces are piped for water and gas to accommodate the BBQ kings. The planters that define the outer edge of the terraces are irrigated so that flowers and plantings require minimal maintenance. 112 St. Clair is truly urban living at its finest accentuated by east and west views along St. Clair and a south view of the Bloor Street corridor and downtown Toronto skylines.
The History: The building was originally built to house the offices of the Toronto Mutual Insurance Company. The property was acquired in 2004 by a corporation led by the Grossman and Vranich families. The families assembled an elite team to convert the building into a prestigious condominium, including Page + Steele architects and Elias Veisman construction and project management. These professionals rank at the top for condominium developments having collaborated on some of Toronto's highest profile, multi family residential projects including the Windsor Arms, the Cheddington, MuseumHouse, and One Post Road. The property was completed in 2007.
The Location: Located on the north side of St. Clair Avenue West, 112 St. Clair's immediate neighbourhood includes the shops and restaurants of Yonge and St. Clair, the parks and trees of Deer Park and luxury developments such as The Avenue (155 St. Clair Ave. W.). In addition, Bloor Street, Yorkville, the shops of Summerhill and Forest Hill Village are only minutes away. Walk to the St. Clair subway station in under 5 minutes. East and west street car stops are located outside the front door. The building maintains a Walk Score of 92.
The Value: With the most recent sale at $858 per square foot, it's easy to see the value that this building offers especially when compared to neighbouring buildings. The value may not last for long however, as the average price per square foot has increased almost 16% above it's 12-month average. The building is starting to realize its' potential and the market is beginning to recognize it.
For more information, please contact:
MATT SMITH*, MBA
Forest Hill Real Estate Inc., Yorkville Branch