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Conrad Black will remain as tenant after selling Toronto mansion

Conrad Black poses at the University Club in Toronto on Tuesday, November 11, 2014. .
Conrad Black poses at the University Club in Toronto on Tuesday, November 11, 2014. . THE CANADIAN PRESS/Darren Calabrese

TORONTO — Conrad Black will continue living in his Toronto mansion after selling the property last week for an undisclosed price.

Adam Daifallah, a spokesman for Black, says the former media mogul plans to stay in the house as a tenant.

“The Blacks have sold their home with a lease-back, with the possibility of a buy-back,” Daifallah wrote in an email.

“No further public comment will be made.”

READ MORE: Ex-media mogul Conrad Black puts Toronto mansion on auction block

Last week, the auction house managing the sale announced that an offer had been made on the 23,000 square-foot property in Toronto’s tony Bridle Path neighbourhood.

On its website, Concierge Auctions had valued the nine-bedroom, 11-bathroom home at $21.8 million.

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Conrad Black's home at 26 Park Circle Lane in Toronto is shown in a handout photo. An auction for the Toronto home of former media baron Conrad Black has officially opened.The 23,000-square-foot mansion in the tony Bridle Path neighbourhood was listed on March 8 with an estimated value of $21.8 million.THE CANADIAN PRESS/HO - Concierge Auctions
Conrad Black’s home at 26 Park Circle Lane in Toronto. THE CANADIAN PRESS/HO - Concierge Auctions

When word of the sale surface last month, Black said he planned to move to a more “manageable home” with his wife, Barbara Amiel-Black, following the sale.

“It is a big house for two people,” he said.

READ MORE: Conrad Black’s family home is on the market for $22 million

The original home on the estate at 26 Park Lane Circle was built by Black’s father, George Montegu Black, and had been in the family for 65 years.

The Bridle Path, also known as Millionaire’s Row, is home to some of the most expensive real estate in the country.