Summerhill lot has plans, permits to build for $4,999,999

A Toronto woman has listed a lot at 61 Roxborough Street West for $4,999,999. It comes with plans, permits and a completed basement for a smashing residence in Summerhill. As told in Toronto Life and verified by MLS details the 32-by-158-foot lot was until recently the site of an original Roxborough home purchased by Elise Latner-Assaraf, daughter of Albert Latner, real estate developer and business magnate who died in 2015. Toronto Life notes a bitter struggle for control of his estate among his heirs. Ms Latner-Assaraf is married to fashion designer Patrick Assaraf. She bought the property for $2.8 million in 2015. A year later, she applied for permits to demolish the existing structure and replace it with a new three-storey home (pictured above) with a detached garage. But since demolition her plans have been changed by circumstance that are not discussed in the story. Who will wish to bargain from a listed figure of  $5 million for the opportunity to then construct the home? Dollars and sense must apply and as always, time and the marketplace will tell the story. .

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