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Queen West penthouse loft draws competing offers

September 29, 2016 @ 3:13 pm

Posted in: Done Deals, Globe and Mail, Queen West,

SYDNIA YU | The Globe and Mail | Published Thursday, Sep. 29, 2016

183 DOVERCOURT RD., PH4, TORONTO

ASKING PRICE $949,900

SELLING PRICE $977,000

TAXES $4,073 (2016)

DAYS ON THE MARKET Three

LISTING AGENT Christopher Bibby, Re/Max Hallmark Realty Ltd.

The Action: At Argyle Lofts, many owners are long-term residents, so when this two-bedroom corner penthouse with a massive terrace came to market it was immediately flagged by nearly four-dozen buyers, who requested private showings. Though the list price was ambitious at over $1,000 a square foot, two competing offers put an end to the short but hectic marketing campaign in mid-September.

What They Got: About a decade ago, a nearly century-old bread factory was modified to house hard lofts and topped up with new two-storey penthouses. Falling into the latter category is this 913-square-foot unit with south- and west-facing windows and an 800-square-foot, multitiered cedar terrace with custom lighting.

Inside is a main-floor bedroom, kitchen, dining area and open living room with hardwood floors, 18-foot ceilings and a floating staircase up to a master with a walk-in closet and one of two full bathrooms.

Laundry machines and parking come with the unit, which owes $587 monthly for water and heating costs, among other things.

The Agent’s Take: “All the other terraces would only be facing in one direction, whereas this one – being a corner unit – it had south and west exposure and it was a wraparound terrace,” agent Christopher Bibby says.

“[The seller] had a living area outside, a dining area, a reading area and an area just for sunbathing, there were so many different options, the outside was almost as big as the inside.”

Befitting of the extraordinary outdoor space was a striking interior for entertaining. “It terms of the inside space, it was completely renovated, so there was a new kitchen and bathroom,” Mr. Bibby notes.

“The space itself was still fairly unique because of the view … overlooking all freehold properties. There’s never potential for an obstructed view.”