There are mansions in Toronto, and then there are Forest Hill mansions. The latter can be jaw-droppingly luxurious residences that put even the sprawling estates on the Bridle Path to shame. Living like royalty in the heart of the city has one very big price tag.

That's why it can be difficult to close a sale on this upper echelon of housing in Toronto. This property at 46 Forest Hill Rd. has been listed numerous times since 2015, but was only finally snapped up recently to the tune of $15 million.

The initial asking price was $18.8 million in 2015, but it has been re-listed a number of times. An article in the Globe and Mail from around the time the house hit the market gives some interesting background information about the owners and various renovation efforts.

With so many features, it's hard to pick standouts, but for me the sheer size of the bedrooms is noteworthy. Each one could pass as a master in a smaller home. The full bar area adorned with a grand piano looks like a fine place to drink, while the bathing area in the en suite is nicer than most spas.

The bad news is that the house doesn't come with the remarkable art collection seen in the real estate listing photos. But the good news for the recent buyer is that they can plop a few million down on new pieces for the home with the money that was saved on the asking price.

I need to start buying lottery tickets.

The Essentials

• Address: 46 Forest Hill Rd.
• Type: Detached house
• Bedrooms: 6 +1
• Bathrooms: 10
• Lot size: 90 x 185 feet
• Realtor: Eileen Farrow, Chestnut Park
• Hit the market at: $16,800,000
• Sold for: $15 million

Why it sold for what it did

This is a recently renovated 10,000 square foot house in the middle of Forest Hill. While the original listing price proved too high, it was always going to hit the $15 million mark.

Was it worth it?

Once the price gets above $10 million, it starts to become silly trying to answer this question. Suffice to say that someone just bought one of the nicest houses in Toronto for $15 million. Put that way, it certainly sounds like it makes sense.