We all know that Toronto's real estate market is painfully exorbitant, but one new condo listing is giving even the wealthiest, most-eager-for-a-bidding-war prospective buyers a run for their money — although not intentionally.
The one-bedroom, one-bathroom unit on a lower-level of a townhouse at 208 Niagara Street is decent size for one person (somewhere betwen 600 and 699 square feet), has a recently-renovated bathroom and even a fairly-sized outdoor terrace to enjoy the summer on.
Unfortunately, it hit the market on Friday with a listing price that made it unaffordable to, well, basically everyone (with the exception of Jeff Bezos).
Apparently, the agent at CBRE Limited who created the listing made the mistake (or joke) of adding an extra few zeros to the price, putting it at a staggering $670,000,000.
The error was corrected on June 25, as indicated a price change notice that knocked off $669,330,000, leaving the unit on the market for the far more reasonable — albeit arguably still a bit too expensive —$670,000.
The new price will surely garner significantly more authentic interest than the owners must have seen in the past few days with such a ridiculous initial price.
Let's just hope that there will never be a day where Toronto's notoriously hot market will never get so hectic that a few hundred million for a residential property is considered normal.
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