Tag Archives: rizwan

Rizwan Malik: Mimico condo lures budget-conscious buyers

Rizwan Malik: Mimico condo lures budget-conscious buyers

2240 Lake Shore Blvd. W, No. 1103, Etobicoke

  • ASKING PRICE: $309,900
  • SELLING PRICE: $360,000
  • TAXES: $1,871 (2017)
  • DAYS ON THE MARKET: Two
  • LISTING AGENT: Rizwan Malik, Sotheby's International Realty Canada
Rizwan-Malik

The Action: The area around Humber Bay Park is saturated with condominiums, which has kept values low in the past, according to agent Rizwan Malik. But different market conditions this year prompted him to set an offer date for this one-bedroom unit at the Beyond the Sea building. Several buyers bid early, but one was unbeatable at $360,000:

Recently, due to a lack of supply in the core and elsewhere, people were driven further out of the city to explore neighbourhoods they wouldn’t normally consider. So there’s a huge upswing at Park Lawn and Lake Shore because even looking at comps for this unit, in the year leading up to this year’s sale, they were at least 15- to 20-per-cent lower than what we ended up selling the unit for.

What They Got: The three-tower complex is composed of hundreds of units, many similar to this roughly 550-square-foot suite with large windows and sliding balcony doors along the open principal room.

living-room

The kitchen is outfitted with stainless steel appliances, stone countertops and an island. There’s a single bathroom, ensuite laundry facilities, a locker and parking.

Monthly fees of $416 include water and heating, as well as use of the fitness rooms, a pool and rooftop deck.

view

The Agent’s Take:

The layout was quite square, so there was no wasted space. It has clear west exposure, overlooking the rest of Etobicoke, over to downtown Mississauga and a bit of the airport.

Originally published in The Globe and Mail on May 11, 2017.

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Rizwan Malik: Global Marketing Helps Toronto Penthouse Set Price Record

Rizwan Malik: Global Marketing Helps Toronto Penthouse Set Price Record
  • 8 CHARLOTTE ST., Ph. 2, TORONTO
  • ASKING PRICE $2,650,000
  • SELLING PRICE $2,652,500
  • TAXES $13,477 (2016)
  • DAYS ON THE MARKET Four
  • LISTING AGENT Rizwan Malik, Sotheby’s International Realty Canada

The Action:

The global marketing campaign for this three-bedroom penthouse resulted in just six showings as some buyers abroad couldn’t make it into town before an early visitor made a multimillion-dollar offer. It set a record price for the building and surrounding area late this summer.

8-charlotte-st

What They Got:

At the top corner of a three-year-old high-rise, called Charlie, this 2,032-square-foot unit is flooded with natural light from wall of windows facing all but north, as well as a terrace of more than 1,800 square feet.

Every appointment is lavish, starting in an open living and dining area with a gas fireplace, black high-gloss kitchen cabinetry to one side, white island with a waterfall edge and Wolf and Sub-Zero appliances.

Conveniences include laundry facilities and three bathrooms – including one in the master and another between two bedrooms, plus a locker and two parking spots.

Monthly fees of $1,301 covers water, heating, concierge, gym, outdoor pool, party room and rooftop deck.

rooftop-deck

The Agent’s Take:

“Typically, units at this price range will take longer to sell – anywhere from six to eight weeks – but this unit got a lot of attentional internationally,” agent Rizwan Malik says.

“It’s one of two units in the entire building with that square footage and has a terrace of that size. Typically, units sell between $800 to $1,000 a square foot, but this unit commanded over $1,300 a square foot.”

Architects confirmed an outdoor pool could be added, although the penthouse is already extraordinary. “It has 12-foot ceiling heights, a custom-designed kitchen with crocodile countertops, crocodile wallpaper and a marble and stainless-steel fireplace that mimics the fireplace in the lobby,” Mr. Malik adds.

“A free-standing bathtub was actually built inside an oversized shower and there is a wall with smoky glass, so you can actually see the person in the shower or bathtub from the master bedroom, so it’s quite dramatic and sexy.”

By Sydnia Yu, originally posted in the Globe and Mail
 

Rizwan Malik: Bully bids for Regent Park suite help set new price record

Rizwan Malik: Bully bids for Regent Park suite help set new price record
  • 225 SACKVILLE ST., No. 1709, TORONTO
  • ASKING PRICE $509,900
  • SELLING PRICE $575,000
  • PREVIOUS SELLING PRICE $384,576 (2012)
  • TAXES $2,635 (2016)
  • DAYS ON THE MARKET Three
  • LISTING AGENT Rizwan Malik, Sotheby's International Realty Canada

The Action:

Earlier this year, the Paintbox building at Sackville and Dundas Streets had several suites available for sale, including this two-bedroom corner unit. The sellers vacated the home from 9 a.m. to 9 p.m. for several days to allow for nearly 80 showings. Their reward was a flood of offers.

"The first day, we started receiving bully offers, so I had almost six bully offers on the property before the offer presentation date," agent Rizwan Malik says. "[The sale] is the highest price recorded for the building for any unit type and it's not even the largest unit."

sackville kitchen225 Sackville Street #1709

What They Got:

A few years ago, the Daniels Corp. helped kick off the redevelopment of Regent Park with this high-rise development, now home to an arts centre, restaurant and hundreds of modern units. Across the street is a large park and the new Regent Park Aquatic Centre.

The two-bedroom, two-bathroom plan is fairly standard with laminate floors, expansive windows and sliding balcony doors off open living, dining and cooking quarters.

Laundry facilities, a locker and parking round out the unit. Each month $581 pays for water, heating, concierge, fitness, games, guest and party rooms.

sackville-views225 Sackville Street #1709

The Agent's Take:

"The neighbourhood is still in transition and often has a negative stigma associated with it," Mr. Malik notes. "This unit, coupled with the way that it showed with the furnishings … and the way it was marketed, really helped set a new bar for Regent Park."

Originally published in The Globe and Mail by Sydnia Yu.