Sale of Surplus Spadina Property
at 549 Arlington Avenue,
(Ward 28 - York Eglinton)
The Corporate Services Committee recommends the adoption of the following report (September 22, 1998) from
the Commissioner of Corporate Services:
Purpose:
To authorize the disposal of the property municipally known as 549 Arlington Avenue.
Funding Sources, Financial Implications and Impact Statement:
Revenue of $166,500.00, less closing costs and the usual adjustments, subject to the revenue sharing agreement with the
Province pursuant to the former Metropolitan Corporate Administration Committee Report No. 25, Clause No. 1,
approved on December 4, 1996.
Recommendations:
It is recommended, subject to Provincial concurrence that:
(1)the Commissioner of Corporate Services be authorized to accept the highest offer in the amount of $166,500.00 as
detailed herein;
(2)Council, pursuant to Clause No. 14 of Report No. 27 of the former Metropolitan Management Committee adopted on
September 28, 1994, waive the minimum required deposit of 10 per cent. of the purchase price;
(3)authority be granted to direct a portion of the sale proceeds on closing to fund the outstanding balance of Costing Unit
No. CP300J56106;
(4)the City Solicitor be authorized and directed to take the appropriate action, in conjunction with Province of Ontario
Officials and/or agents, to complete the transaction on behalf of the Corporation and he be further authorized to amend the
closing date to such earlier or later date as he considers reasonable; and
(5)the appropriate City officials be authorized and directed to take the necessary action to give effect thereto.
Council Reference/Background/History:
The Province of Ontario is the owner of 549 Arlington Avenue, subject to a ninety-nine year lease in favour of the City of
Toronto. By its adoption of Clause No. 1 of Report No. 3 of The Corporate Administration Committee on February 12
and 13, 1997, Metropolitan Council declared the property surplus pursuant to By-law No. 56-95 and authorized its
disposal. The procedures with respect to By-law No. 56-95 have been complied with, a utility canvass has been completed
and no requirements have been identified.
Comments and/or Discussion and/or Justification:
Pursuant to the February 12 and 13, 1997 authority, the property was listed with Wakefield Realty Corporation on August
25, 1998 at an asking price of $154,900.00 and offered through the Multiple Listing Service of the Toronto Real Estate
Board. The following offers were received:
PurchaserDepositPurchase Price/Terms
Mike Ramalho$8,325.00 (certified cheque)$166,500.00/non-conditional
Sherrie Vito and Nicola Vito$8,005.00 (bank draft)$160,100.00/non-conditional
Shahriar Mehjoo and Nahid Shagiei$7,505.00 (bank draft)$150,100.00/non-conditional
Linda Campoli$6,745.00 (bank draft)$134,900.00/non-conditional
The highest offer is recommended for acceptance:
Property Address:549 Arlington Avenue.
Legal Description:Part of Lot 63, Plan 1527, designated as Parts 18 and 11 on Plan 64R-15549.
Approximate Lot Size:7.59 metres (24.93 feet) fronting onto Arlington Avenue,
35.95 metres (117.97 feet) depth.
Easement:Subject to an easement in favour of the City of Toronto for subway/sewer and other related municipal
purposes identified within Part 11 on Plan 64R-15549.
Location:East side of Arlington Avenue, west of Strathearn Road, south of Eglinton Avenue West.
Improvements:Detached, 2 bedroom, brick bungalow.
Occupancy Status:Vacant.
Recommended Sale Price:$166,500.00.
Deposit:$8,325.00.
Purchaser:Mike Ramalho.
Closing Date:November 25, 1998.
Terms:Cash on closing, subject to the usual adjustments.
Listing Broker:Wakefield Realty Corporation.
Selling Broker:Homelife Regional Realty Ltd.
Commission:Four (4) per cent, plus G.S.T., payable on closing of the transaction.
By the adoption of Clause No. 5 of Report No. 9 of The Corporate Services Committee, Council at the meeting held on
July 8, 9, and 10, 1998 directed that comparable sales data be provided in future reports of property sales. Appendix "A"
identifies three comparable properties located in the vicinity that have recently sold. While comparable sales information
can be included as part of the staff report, this property was listed for sale on the TREB multiple listing service and the
forces of the market place have determined the true market value.
Conclusion:
Completion of this transaction detailed above is considered fair and reasonable and reflective of market value.
Contact Name:
Mr. R. Mayr, AACI, Director, Real Estate Services, (416)396-4930, Fax No.: (416)396-4241, E-Mail Address:
mayr@city.scarborough.on.ca
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Appendix "A"
549Arlington Avenue - Comparable Sales
The following three addresses represent recent comparable sales of properties that are quite similar to the residence which
forms the subject matter of this report. These three properties consist of 5room brick bungalows with 2 bedrooms.
Approximate
AddressLot SizeSale PriceDate of Sale
565 Arlington Ave.28 x 94$161,000.00July 29, 1998
569 Arlington Ave.33 x 100$166,800.00July 29, 1998
355 Winnett Ave.30 x 128$182,100.00May 28, 1998