close
close

Architectural home sold for $12 million, most expensive deal ever in Toronto suburb of Mississauga

Architectural home sold for  million, most expensive deal ever in Toronto suburb of Mississauga
Architectural home sold for  million, most expensive deal ever in Toronto suburb of Mississauga

A lakefront home with a private putting green and views of downtown Toronto in Mississauga, Ontario, has sold for $12 million, a record price for the city, according to the agents who handled the sale.

The four-bedroom home spans 7,600 square feet on Watersedge Road in the affluent Toronto suburb. It was initially listed for $14.98 million and sold in late June after just 27 days on the market.

MORE: Tom Petty’s old Malibu mansion is on the market for $19 million

Situated directly on Lake Ontario, the two-story home was designed by the sellers in 2009. It begins with a spacious, open main floor with double-height ceilings and a striking fireplace in the center, a second story with lake views from every room and a dedicated space to enjoy hobbies like golfing or entertaining.

“The way they designed it, it looks like a cruise ship: funky lines, high ceilings,” said Peter Torkan of the agency, who listed the property with his partner Paige Torkan. “As soon as you walk in, you see the lake right away.”

Advertisement – Scroll to continue


The buyer, Daniel Freedman, is the CEO of adult novelty retailer PinkCherry, said Stacy Peereboom of Re/Max, who represented him in the sale. Freedman could not immediately be reached for comment.

The house has no straight lines and is filled with curved walls, ceilings and rounded corners. There is also a circular kitchen, two circular bars, a spiral staircase and a curved pool with its own tranquil river flowing from an elevated hot tub, with a bridge to cross over it.

The house is on a cul-de-sac and its biggest selling point is the lakefront yard, Torkan said. “The backyard is to die for,” he said.

In addition to the pool, clad in blue mosaic tiles, the backyard features a covered sitting area, a golf practice area and direct views of the CN Tower and Downtown Miami.

“He has a putting green, a chipping area and also built a sand trap so you can practice your short game,” Torkan said. The Lakhanis declined to comment.

According to Torkan, the new owner may also choose to build a dock for boats and other water activities.

MORE: Actor Josh Radnor is selling his Los Angeles home for $3.85 million

The sale marks the most expensive sale in Mississauga, though perhaps not for long, as there are currently several active listings asking $20 million or more in the city. Recent changes to Toronto’s transfer tax on luxury homes may encourage more buyers to look outside the city for a home, adding to the demand for the luxury sector in places like Mississauga.

In the broader market, the median sales price in Mississauga was $1.1 million in June, relatively flat compared to last year, according to Canadian listings platform Zolo. That ranks Mississauga 16th out of 23 markets in the Toronto metropolitan area, one of the most expensive markets in the country.