Bridle Path

Someone paid $15 million for a Bridle Path mansion just to tear it down

The 19,000-square-foot mansion at 42 Park Lane Circle will be demolished, according to a recent permit that was issued by the city. The Bridle Path mansion in Ward 15, Don Valley West, was placed on the market in September of 2020 at $18 million; it reportedly sold in Feb 2021 for $15.48 million.

According to the city, the permit was issued late last month to demolish the existing two-and-a-half-story dwelling and construct a new single-family dwelling, with an associated indoor basketball court, indoor pool, and basement walkout.

The interior is plush, featuring eight bedrooms, 10 bathrooms, three kitchens, spa-like bathrooms, a guest suite with a private entrance, as well as a grand ballroom with chandeliers dripping in crystals and a living room with a wet bar. The wood-burning marble fireplaces, hand-painted ceilings, arched entryways, and French doors emit elegance.

The outdoors is nothing to scoff at, boasting two acres of peaceful gardens and a private tennis court located on a two-acre ravine lot.

The news has generates major discussions across social media, with some surprised that such a beautiful, large house is being demolished.

Such as shame, actually a very nice house with character,” one Redditor said. “This could easily have been updated. Will probably be replaced with some sort of soulless monstrosity.”

Another Redditor noted that the “Bridle Path has maybe 20~ houses/lots that are empty or essentially abandoned that are roughly the same size as this lot. I dont think Condos will ever be built in this area anytime soon!”

“I live adjacent to this area. No one sits on land like this. Every month it sits is a huge cost,” another Redditor stated. “Too much headache and risk for most developers regardless of the potential upside. There’s many lower risk and higher reward areas to make money like the nearby homes on Bayview getting rezoned as ultra luxury townhouse developments. Easier to make money selling $5M townhomes.”

The property is still standing, you can take a virtual walkthrough here.

The Bridle Path neighborhood in Toronto, home to Drake amongst others, is widely recognized as the city’s most affluent enclave.

Article exclusive to STREETS OF TORONTO