22 h. ago
A completely abandoned Toronto home is still somehow selling for $8 million
The average price of a house sold on the Bridle Path in Toronto is over $16 million.It's a neighbourhood of excess wealth, ostentatious mega-mansions and the 0.1 per cent of society. But in and amongst all those over-the-top houses, you'll find 48 The Bridle Path, a 103- by 260-foot piece of land with a vine covered bungalow that has sat abandoned since 2017, if not longer. Construction happening across the street. Normally when plots of land become available in the Bridle Path, it's just a matter of time before a cavalcade of construction workers arrive to build the next mansion. However, that's not what happened at all at 48 The Bridle Path.In 2017, the property sold for $6,100,000 after just a week on the market. But less than a year later, it was back up for sale for $7,995,000. It took two years and four tries before it finally sold for $6,500,000 in 2019. Then 48 The Bridle Path just sat there for years.Ove...
Economics