Toronto mansion drops asking price nearly $11M after sitting on market over three years

Tucked into one of Toronto’s most prestigious pockets, 103 Old Colony Rd. first hit the market in May 2023 with a jaw-dropping $28,800,000 price tag.

Since then, the property has popped on and off the market multiple times, with each relaunch coming with a lower asking price. Even with the reductions, though, it has still hovered near the top of Toronto’s most expensive listings — at least until now.

Because the home is currently asking $18,000,000, a nearly $11-million haircut that says a lot about where Toronto’s ultra-luxury market is sitting these days.

The foyer with exposed stone walls. 

And this isn’t your typical Bridle Path-adjacent mega-mansion trying to blend into a sea of stone façades.

The dining room. 

“I’m blown away by this house because it’s so unique,” realtor Barry Cohen says in a video.

The primary bedroom. 

The six-bedroom, eleven-bathroom residence was conceived as a collaborative artistic vision between architectural visionary Michael McCann and designer-builder Lisa Mandel McCann.

The living room. 

“The architectural design of the house was inspired by the property itself, with all its natural elements,” Lisa Mandel McCann told Living Luxe back in 2023.

Limestone walls and floor-to-ceiling windows add architectural interest to the stairwell. 

The result is a sculptural, nature-inspired estate, with architecture that leans heavily into organic materials, light, and landscape.

The family room. 

Spanning roughly 21,000 square feet on about an acre of land, the design intentionally connects the interiors to the surrounding trees and park-like setting. 

A home office. 

Cascading natural light, warm walnut and white oak finishes, and layers of limestone, marble, and bronze all work together to create a sense of understated drama.

The tennis court. 

Outside, the grounds feel closer to a boutique wellness retreat than a backyard. There’s a tennis and sports court, a swimming pool, cabana, and hot tub, all framed by lush landscaping and striking architectural concrete work.

An art studio. 

Inside, the amenities dial things up to full luxury-fantasy mode.

A bedroom. 

“Ensuites with Versace accents? That says it all,” says Cohen. And honestly, that’s just the beginning.

The kitchen with glowing onyx counters. 

The chef’s kitchen is paired with a discreet caterer’s kitchen designed for large-scale entertaining, while a commercial-grade wine room created with Halperin Enterprises hints at serious collector energy — with space for up to 1,000 bottles, according to Cohen.

The home theatre. 

On the lower level of the house, there’s also a spa complete with wet and dry saunas, a home theatre and entertainment hub equipped for karaoke and virtual reality, plus an indoor sports simulator.

The lower recreation room. 

Of course, it wouldn’t be a modern mega-estate without next-level tech.

The gym. 

The home features airport-level security, an expandable 8K-ready technology system, and a commercial-grade filtration system installed ten feet below grade — details that underscore its focus on longevity as much as luxury.

The wine cellar. 

“This is not just a house; it’s a lifestyle,” Cohen notes.

A balcony overlooking the surrounding nature. 

But for all its over-the-top features, a nearly 40 per cent price drop highlights just how much the ultra-luxury market has shifted — and how tough Toronto’s real estate landscape has become overall.