This lavish Toronto mansion’s price was slashed by $3.5 million in just a year

A sprawling mansion in Toronto’s affluent Bayview and York Mills area is up for sale for a hefty sum of $18,500,000, but that’s still a heck of a lot cheaper than the home’s previous listing price from just over one year ago.

You see, back in fall of 2021, this same five-bedroom, ten-bathroom estate at 101 Old Colony Road was for sale at a sticker price of $22 million. Today, that same mansion will come at a comparative bargain, now priced a full $3.5 million cheaper.

The spacious 15,000-square-foot home — described in the listing as a “palatial estate” — features limestone exteriors and an elegant interior aesthetic with minimalist finishes throughout.

Primary spaces boast heated stone slab floors, contributing to the clean and contemporary interior design tying everything together.

This look carries into the kitchen, a minimal space with white finishes and touches of bronze and wood adding warmth to the mix.

You can unwind in the home’s piano bar, and maybe hire a lounge act to perform for special occasions. Because you can probably afford it if you’re shopping around for houses like this.

A two-storey Cathedral Gallery connects the property’s two above-ground levels.

One of the standout spaces is a 2,000-square-foot Master Retreat with an indoor fireplace that opens up onto an outdoor terrace.

The home offers five bedrooms, including a primary bedroom with a 25-by-15-foot boutique walk-in closet.

It also includes an 11-piece ensuite bathroom with glass-walled facilities.

The lucky buyer of this property will be able to entertain guests in style, whether through the aforementioned piano bar or an Entertainer’s Lounge space with an impressive home theatre.

A “Four Seasons-inspired” spa includes a gorgeous glass-walled sauna, looking like something pulled straight out of a luxe Scandinavian resort.

Whoever the ultimate buyer of this home is, they’ll have plenty of ways to flaunt their wealth, including a wine cellar and even staff quarters. 

If the outdoors are more your speed, the home offers what the listing describes as an L.A.-inspired cabana, a pool and manicured gardens.

Other perks include a seven-car garage (slow down there Jerry Seinfeld) as well as a heated motor court to save you much shovelling, and high-tech features including an elevator, home automation system, and even security cameras and a backup generator.

You can see more photos of the luxurious home by checking out the listing.