The property where the late Barry and Honey Sherman’s North York mansion used to stand has sold for $4.25 million. (adsbygoogle = window.adsbygoogle || []).push({});> As first reported by The Star, the property, which is located at Fifty Old Colony Road, was sold as a building lot after the Sherman family tore the home down last year.READ: Barry And Honey Sherman’s North York Home Set To Be Demolished Documents filed with the provincial land registry show the Sherman home was sold in late August; however, as the Star reported, an agreement was made between the Sherman estate trustees and the buyer — who is an unnamed 28-year-old woman — to “suppress” the true sale price. As per the Star, a nominal value of $2 was recorded on the transfer document, which can be done if both parties agree to it and if the buyer pays the land transfer tax upfront before the deal closes. As was the case in this sale, with both parties agreeing to suppress the purchase price. However, the Star said it was able to obtain the sale price of $4.25 million after calling the province’s land transfer tax section, which keeps all sale prices on record.The Sherman home at 50 Old Colony Road prior to being demolished/Zolo In the spring of 2019, the North York City Council approved a request to have the Sherman home demolished, after a demolition permit for 50 Old Colony Road was submitted by a family representative on February 11, 2019
