One of the last 'hold-out' properties in this midtown Toronto neighbourhood sells $1M over asking
![broadway avenue home Outside the home on Broadway Avenue. (Mitch Fain from The Print Market )](/content/dam/ctvnews/en/images/2023/9/29/broadway-avenue-home-1-6583428-1696014256763.jpg)
An orphaned burgundy brick house sitting in the shadow of a midtown Toronto tower – one of the area’s last hold-out properties – sold for more than one million over asking this month.
The house at 93 Broadway Avenue was in the hands of the same family for almost 50 years and even as neighbours’ houses were struck down like dominos, the property at the southeast corner of Redpath stayed put.
The now 86-year-old owner was initially approached by developers about a decade ago as the midtown hub began to bustle with high-rise construction.
But at the time, neighbours were offered more per square foot, and as a “principled person,” the owner turned it down, André Kutyan, a real estate broker at Harvey Kalles Real Estate Ltd., said about his client.
“They just decided to build around her,” Kutyan said. The two-storey house became surrounded by a 29-storey residential building. “I can’t imagine the vibrations and the dust, and the sound, and all the nonsense she dealt with during construction.”
Pedestrians walking down the street in front of the brick home on Broadway Avenue. (Mitch Fain from The Print Market)
Earlier this month, the time finally came to put the house on the market, with the upkeep and space becoming too much for the owner, Kutyan said.
On Sept. 6, it was listed for $1.49 million and two weeks later, it sold for $2.65 million with eight offers on the table.
The listing boasted the house as “a hold-out property beaming with endless possibilities,” adding that current zoning for the 32-by-90-foot lot with a garage already allows for a detached house, semi-detached home, townhouse, duplex, triplex, fourplex and an apartment building.
Another option listed was turning the property into off-site parkland, since developers are required to spend 10 per cent of their land value on park space. With a zoning by-law amendment, Kutyan said the property could also swap over to commercial use for a professional office, retail or restaurant space.
In the end, an individual person with plans to renovate the property bought it.
“I don’t know exactly what they are planning to do with it … but it’s their property when it closes and they can do whatever they want with it,” Kutyan said.
CTVNews.ca Top Stories
![](https://www.ctvnews.ca/polopoly_fs/1.6952666.1720184870!/httpImage/image.jpg_gen/derivatives/landscape_800/image.jpg)
14-year-old crashes parents' car, leaves it in flames in a ditch on Hwy. 401 in Mississauga, Ont.: OPP
Ontario Provincial Police say charges are pending after a 14-year-old crashed their parents' car on Highway 401 in Mississauga and left the car in flames in a ditch.
Canada's global reputation suffering under Trudeau, Garneau asserts in autobiography
Former foreign affairs minister Marc Garneau says Canada has lost its standing in the world under the tenure of Prime Minister Justin Trudeau, whom he criticizes as an ill-prepared leader who prioritizes politics and makes big pronouncements without any follow-through.
'I got no remorse': Greg Fertuck, convicted of murdering missing spouse, sentenced to life in prison
Greg Fertuck will spend life behind bars with no chance of parole until he is 90 years old, a judge ruled on Thursday at Saskatoon's Court of King's Bench.
Son asks court to sell B.C. home he co-owns with his mother, despite her objections
A B.C. judge has ordered the sale of a Surrey home despite the objections of the woman who lives there, who owns it jointly with her son.
BREAKING Canada’s unemployment rate rose to 6.4 per cent in June as jobs market stalls
The Canadian economy lost 1,400 jobs in June as the unemployment rate climbed to its highest level in more than two years, Statistics Canada said Friday.
How does Canada's lowest hourly minimum wage stack up to the rest of the country?
Hourly minimum wages increased in several Canadian provinces this spring with more on the horizon, which economists say will likely impact workers and businesses differently.
NEW Hurricane Beryl makes landfall near Tulum, Mexico as a Category 2 storm
Hurricane Beryl made landfall on Mexico's coast near the resort of Tulum as a Category 2 storm early Friday, whipping trees and knocking out power as it came ashore after leaving a trail of destruction across the eastern Caribbean.
'Ford's dry summer begins': All LCBO stores closed as workers go on strike
All LCBO stores are closed on Friday as thousands of workers hit the picket lines after their union and employer failed to reach an agreement.
Possible shark sighting temporarily closes popular Maritime beach
A suspected shark sighting caused a popular Nova Scotia beach to close temporarily Thursday.