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Real Estate

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House of the Week: $8 million for a deluxe Arts and Crafts home steps from Lake Ontario

ADDRESS: 412 Lake Front

NEIGHBOURHOOD: The Beach

AGENTS: Thomas D. Neal, Royal LePage Estate Realty and Sam Mcdadi, ReMax Performance Realty

PRICE: $8,000,000

THE PLACE: This massive house on the water boasts a 270-degree panoramic view of the lake, making its vibe more island than urban. Built in the 1920s, the Arts and Crafts-style home underwent two years and $4 million worth of renovations to turn a rundown hodgepodge of small apartments into a single-family dwelling.

BRAGGING RIGHTS: With surveillance equipment, two panic rooms and an underground tunnel to the garage, you’d have plenty of escape options in a Jodi Foster-Forest Whitaker-style standoff (or you could just offer to house your friends’ valuables).

BIG SELLING POINT: Rather than tearing down the apartments and building anew, the owner—reportedly a businessman who splits his time between Canada and the U.S.—went to great lengths to restore the Tudor and Arts and Crafts details found beneath the years of neglect. Additionally, renovating rather than rebuilding allowed the owner to keep the close proximity to the water (new codes would prevent that), leaving the beach literally at the doorstep.

POSSIBLE DEAL BREAKER: The house may be 7,100 square feet, but there isn’t much space between you and your neighbours (although the vastness of the lake should help ease the pain of the squished side yards).

BY THE NUMBERS:
• $8,000,000
• $25,000 (approximately) in property taxes
• 7,100 square feet
• 5 bathrooms
• 4 bedrooms
• 4 storeys
• 3 fireplaces
• 2 panic rooms
• 1 elevator
• 1 wine-tasting room
• 1 putting green
• 1 swimming pool
• 1 underground tunnel connecting house to garage

  • Ignatz

    I’m thinking for $8mn you can find a property with your own waterfront rather than access to a public beach. Nice place, but will take a particular sort of person to want this.

  • cathie

    “2 panic rooms”. Good heavens.

  • notme

    nice house but it is lake ontario!!!

    why have a mansion overlooking a polluted lake???

  • jen

    Beautiful home. If I had 8 million to spend on a home, I’d buy it in Malibu!

  • Foghorn O’Kalashnikov

    If I had $8mm to spend on a place in Toronto, this’d be the only neighbourhood I’d buy in. But I don’t! So ……

  • A.

    Are these people buying space on all the Toronto home features? I think I’ve seen this one 4 or 5 times now. Yawn.

  • Chan Can

    How many times have we seen this home ? heard of it ? Perfectly staged I must add. i am more curious to know the homes to the left & to the right, how much are they worth?! Am I really gonna step out of my $8mil home into polluted Lake Ontario or go swimming? I think not!

  • Symon Demers

    Nice home but rather questionable choice of using glass for the pool wall in this environment. Wonder what the replacement costs are for the mirrored fence covers.Is it worth the 8 million especially when there will be days when the lake will literally smell like eau de toilette?

  • sandra

    Nice house but for that price why not get beachfront in a prime Caribbean island.

  • Sinde

    leah-anne singh – oooh! i recognize the wharf in Salmon Arm! That’s where I grew up! Great pics as alyaws Paula you should start offering workshops not that you have the spare time or anything!

 

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