Rapper Drake sells Toronto condo for $3.75 million
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Drake won’t be going home to his posh Yorkville condo.
The Toronto-raised rapper sold his 1 St. Thomas St. condo for $3.75 million, below the asking price of $4.2 million when it went on the market this July, confirmed local real estate website and research firm BuzzBuzzHome on Wednesday.
The price was later lowered to $3.895 million and sold on Oct. 21, a few days before his 27th birthday and hometown concert last week.
The Juno and Grammy Award winner, whose real name is Aubrey Graham, has rapped about growing up in his mom’s basement apartment in Forest Hill, about the prime location of his downtown bachelor pad, as well as other Toronto landmarks. He has a tattoo of the CN Tower and last week posted
a photo on social media of his Toronto-themed birthday cake.
It was not immediately known whether the star, who often and loudly proclaims his affection for the city, will relocate elsewhere in the GTA.
A promotional video for the brokerage firm Daniel and Johnston, a division of Royal LePage, calls the three-bedroom, 3,600-square-foot unit a “breathtaking residence in one of the city’s most prestigious addresses,” perfect for “affluent singles and couples wishing to live in Yorkville.”
The real estate agent handling the sale told the Star this summer the rapper’s high profile wouldn’t necessarily help close the deal. Most of the clients viewing the property were wealthy couples in their 50s who were seeking to downsize — and would likely want to redecorate, as the home was made to suit the tastes of a single guy.
It also shows off the panoramic views from heated balconies and a bookshelf in the shape of Canada’s geography on the wall of an elegant living room.
The broker’s website lists the annual property taxes at $28,675 and the sale price does not include monthly maintenance fees of more than $3,300.
Drake is not likely hurting for cash, despite the hit he may have taken on the condo sale.
According to Forbes magazine, the former Degrassi star raked in $20.5 million in 2012, placing him sixth among 25 of hip hop’s highest earners, behind Dr. Dre, Sean “Diddy” Combs, Jay-Z, Kanye West and Lil Wayne.
In Focus: Richard Crouse