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Testing the Luxury Market of Toronto through Minimalist Masterpieces

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An entrepreneur from Toronto auctions off his very own luxury home located in Highland Cres along with his condominium within the Four Seasons Private Residences. The entrepreneur is identified as Andrei Melkoumov, a man who used to acquire multimillion development deals easily. Therefore, it is quite understandable if he does not have lots of patience for marketing his home on the usual way, which includes having it listed on MLS and then waiting for the ideal buyer.

 

Rather, the man has produced a lot of buzz by placing both of his multimillion “minimalist masterpieces”, the description given by his realtor to the properties, out for sale simultaneously through a 1-day auction.

 

First of the two properties is the superb 13,610ft2 custom built home within the area of Tony Bayview-York Mills. The second one is the 3,422ft2, 2-bed condominium, which he designed from the hard shell up within the Four Seasons Private Residences. The two properties similarly provides exceptional views of the amazing Toronto Skyline, having the property from the land on Highland Cres overlooking the beautiful Rosedale Golf Club, while the condominium looking South from the 44th floor of Yorkville luxury condo/hotel complex.

 

The auction that will be held on the 26th of June starts with cocktails in the Four Seasons Hotel and is expected to be a test for the most interested buyers for the distinct design style of Melkoumov as the status of the high end real estate market of Toronto.

 

According to the realtor of Melkoumov, it is not considered as a distress sale. Her client was simply getting a bit impatient for the progress of the sale. It is the 3rd Canadian auction in the luxury real estate auction property Concierge Auctions that is based in New York. The auction or sale of these properties owned by Melkoumov should tell a lot about the luxury real estate status in Canada.

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