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.

READ FULL ARTICLE

Loading Facebook Comments ...
No Comments

Post A Comment

Sign up for automatic property updates.

Join thousands of Torontonians who receive our automatic updates. Stop manually spending your time searching, we will send the properties that meet your criteria directly to your inbox.