Seller of Swansea penthouse sets baked-in price buffer

DONE DEAL Seller of Swansea penthouse sets baked-in price buffer SYDNIA YU TORONTO SPECIAL TO THE GLOBE AND MAIL PUBLISHED 21 MINUTES AGO Open this photo in gallery: The 1,709-square-foot unit is one of six in the building with a private terrace. RE/MAX HALLMARK BIBBY GROUP REALTY COMMENTS SHARE SAVE FOR LATER 22 Southport St. No. 1033, Toronto Asking price: $1,099,000 (July, 2026) Selling price: $1,057,500 (August, 2026) Taxes: $3,547 (2026) Days on the market: 32 Listing agent: Christopher Bibby, Re/Max Hallmark Bibby Group Realty The action Open this photo in gallery: The building is close to Toronto's Sunnyside Beach. RE/MAX HALLMARK BIBBY GROUP REALTY Most of the units in this 37-year-old building, less than a kilometre from Sunnyside Beach on Lake Ontario, do not have private outdoor space. The exceptions are half a dozen penthouses, like this one, which have terraces. The last one sold more than 20 years ago, so this two-bedroom suite with a 525-square-foot terrace was something of a find. It had 16 visitors over four weeks this summer. “In this building, there are only six units with terraces, and the last time a terrace unit had come out publicly was 23 years ago,” said agent Christopher Bibby. “These are the only units with exterior space in the building. You’re either getting a terrace or nothing.” The first offer to come in was significantly below the asking price, which, given the current condo market in Toronto, was no surprise to Mr. Bibby. His client shaved $41,500 off his ask, forging a deal at $1,057,500. “The data shows, in this market, buyers want to negotiate and feel they pushed us off the price,” Mr. Bibby said. “We baked in a negotiation buffer and achieved our goal. This ended up being a record sale in the complex in a period that’s supposed to be slow.” What they got Open this photo in gallery: The unit has hardwood flooring and floor-to-ceiling windows, along with a storage locker and a parking spot. RE/MAX HALLMARK BIBBY GROUP REALTY This 1,709-square-foot unit has hardwood flooring and floor-to-ceiling windows in each room, including the eat-in kitchen and the bedrooms. The terrace, facing east and south, is accessed from the living and dining area. There are two full bathrooms, including an updated, primary ensuite bathroom. The unit has one storage locker and one parking spot. Monthly fees of $1,895 cover utilities and cable, as well as concierge and use of amenities, such as a party room, a gym and an…