Three offers for stylish Toronto loft

Thursday, Mar. 05 2015
55 FRONT ST. E., NO. 308, TORONTO

ASKING PRICE $999,900

SELLING PRICE $1,050,000

TAXES $6,305 (2014)

DAYS ON THE MARKET Nine

LISTING AGENT Christopher Bibby, Sutton Group-Associates Realty Inc.

The Action: This two-storey loft in a new boutique building near the Sony Centre for the Performing Arts stood out amid a sea of conventional single-storey units, so it had a steady stream of first and second showings, provoking three buyers into making competing offers.

What They Got: A few years ago, Concert Properties integrated a heritage building into a new mixed-use, boutique building with future commercial space facing Front and Church streets, luxury suites and authentic lofts above, such as this two-bedroom-plus-den unit with original warehouse-style windows.

This 1,730-square-foot space has its entrance off a landing with stairs down to a laundry room and two bedrooms, including one with a walk-in closet and the largest of three bathrooms, as well as stairs up to a den, living and dining area and kitchen with stainless steel appliances and hardwood floors.

Ownership also comes with a locker and parking, plus $892 monthly fees for water, concierge, gym, party room and rooftop deck.

The Agent’s Take: “There’s nothing really like it out there [because] it’s a conversion that’s in a brand new build, and it’s so centrally located,” agent Christopher Bibby states.

“The finishes were of a high calibre and it showed very well. The owners did a very good job of the design.”

While the sellers are credited for the modern décor, the builder created the unique layout. “There weren’t direct, competing units [with] this one being the only unit on two floors,” says Mr. Bibby, who had interest from empty-nesters and professionals working in the Financial District.

“Being on a lower floor and split over two levels, it felt like a townhouse more than a condo.”