“Peter Gilgan is the new owner of Toronto’s most expensive condo” via “Toronto Life”
The 55th-floor penthouse at the Four Seasons Residences, in Yorkville, has a colourful past. The property’s first owner was a corporation that turned out to belong to Robert Oesterlund, a Finnish businessman who made his fortune running internet businesses that were repeatedly investigated by U.S. authorities for alleged deceptive marketing practices. After Oesterlund closed on the penthouse for about $23 million (before HST) in 2014, it became a bargaining chip in his divorce from his wife, Sarah Pursglove, who reportedly won full ownership of the property last year as part of a confidential divorce settlement.
Pursglove put the penthouse on the market for a staggering $36 million—about $4,000 per square foot—an unprecedented price for a resale condo in Toronto. It’s possible to buy and entire Bridle Path mansion for much less money. And yet, the Four Seasons penthouse found a buyer in a matter of months. On December 15, a corporation called Three Kingdoms Property Holdings Inc. closed on the property for $31 million—a relative bargain, at $5 million under the asking price.