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Colourful Toronto home got a serious makeover and new $5 million price tag

Known as the Palermo Estate, 1 Friars Ln. is one of the original homes from Toronto's Thorncrest Village, built way back in the mid-1940s.And while it's one of the first homes in the area, the property has gone through several glow-ups since then.Most notably, in 2012, the then-owner brought in architect Rocco Margana for a full top-to-bottom renovation.The breakfast nook and sitting area.  In the process, he transformed the once modest four-bedroom family home into a sleek two-bedroom house with a luxury office.The dining room. But after only three years of living the dream, the owner listed it — furniture included — for just over $3 million.A floating staircase. Now, 1 Friars Ln. is back on the market for $5,390,000 and has swapped the minimalist bachelor pad vibe for something a little more colourful, cozy, and family-friendly.The primary ensuite. The home boasts 7,500 square feet of living space, four bed...


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