Despite the pandemic, home sales in the Greater Toronto Area have increased by 150% from 2020 to 2021. And when it comes to affluent properties, there’s no shortage of demand, even outside of the typically prosperous neighbourhoods like Forest Hill, Rosedale, York Mills and Bridle Path.
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“There are affluent buyers everywhere,” says Adam Brind of Sotheby’s International Realty Canada. “From Oakville’s waterfront to the Beaches, and all the way out to the Scarborough Bluffs, many people are looking for privacy.”
Bridle Path: An estate like no other
The latest addition to Toronto’s luxury homes portfolio is an impressive French-Style estate nestled in the enclave of Bayview Ridge in the prestigious Bridle Path neighbourhood.
Offering an astounding lot size of approximately 156,700+ sq. ft. and immensely luxurious amenities, the home is currently listed for $24.5 million CAD and represented by Brind and Amy Richardson of Sotheby’s.
“The big ticket here is the land,” says Brind. “It’s two parcels of land that were assembled to create one, so the land alone would be upwards of $60 million. At 3.12 acres, it’s an exceptionally large piece of land to be located in the city.”
Toronto luxury residential sales over $4 million up 29% year-to-year in Q1 2022
But what truly sets 45 Bayview Ridge apart from its equally prosperous neighbours are the completely unobstructed, private southwest views of the Rosedale Golf Club.
“It has a spectacular view, which is unheard of,” says Brind. “You can go up north to find that type of view but it’s very hard to find in the city.”
Built in 2001, the estate boasts more than 15,000 sq.ft. of living space, a 4,000-bottle wine cellar, two pools, a luxe sauna, a reflecting pond with a tiered waterfall, a stone cabana, a gym, and tennis court.
The French-style chateau was designed by Canadian architect, Gordon Ridgely and has a total of eight spacious and luxurious bedrooms.
Calling Toronto “Home”
When it comes to affluent buyers in the GTA, it’s clear that more and more people are buying not just for investment but also to make the city their permanent home.
“Toronto has always been a world-class city and a safe, stable environment for buyers to bring in their money,” explains Brind. “But given what’s happening in the world, now more so than before, buyers are looking for properties to move into, rather than just as assets.
We’re seeing buyers returning from overseas or the US as well as foreigners with large budgets and a common goal of settling down in the city.”
Who is the affluent buyer
The type of affluent buyer looking for privacy and exclusivity in Toronto these days has also changed over the last few years, with more and more purchases being made by power players dominating the tech industry.
“When I first started in this business, it was mostly business owners and buyers from the financial industry. But now, we’re seeing a wide range of buyers, and more specifically from the tech industry – something that’s grown exponentially in the last 10 years,” says Brind.
“We’ve seen some huge tech companies, like Facebook, Amazon, and Shopify, and their employees, buying these types of properties,” he says. “Shopify is a perfect example. The company has grown quite significantly here in Canada and a result, employees have benefitted from it.”
There’s no place like home
When it comes to large and expansive properties, many of them often have a reputation of being austere and uninviting. With multiple enormous principal rooms, including a grand dining room and a substantial home office, as well as a 15,000 sq. ft. basement, it’s hard to imagine something so expansive as being inviting.
But the same cannot be said about 45 Bayview Ridge.
“This home feels like a home,” says Brind. “It’s very welcoming thanks to the previous owners – a family of five – who really made it feel like a home.”
And when you combine the chateau’s warm and inviting décor with its spectacular grounds, beautifully designed landscape, and unforgettable views, this property truly has it all.
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