Buyer doubles back to buy Toy Factory loft

PUBLISHED MONDAY, AUGUST 26, 2018

43 Hanna Ave., No. 503, Toronto

Asking price: $785,000

Selling price: $767,500

Taxes: $2,962 (2018)

Days on the market: 35

Listing agent: Christopher Bibby, Re/Max Hallmark Bibby Group Realty

The action: During a brief period late spring, the Toy Factory Lofts had several vacancies, so the marketing for this one-bedroom-plus-den loft was prolonged until the end of May.

“Our timing was off. There were three other units for sale, so we struggled a little bit because of the competition,” agent Christopher Bibby said.

“[A buyer made] an offer, but went after something else. But that sold, so they came back.”

What they got: Within the new wing of a converted toy warehouse are loft-like suites, such as this fifth-floor version with 14-foot ceilings and exposed ductwork, as well as a wall of windows and a balcony off the open living and dining area.

Dark hardwood floors and cabinetry add a sense of warmth to a modern Scavolini kitchen with stainless-steel appliances.

Rounding out the unit is a full bathroom, laundry machines, plus a locker and parking. Monthly maintenance fees of $391 covers water, heating and concierge, in addition to upkeep of the rooftop deck, fitness and party rooms.

The agent’s take: “This was one of the larger one-bedroom-plus-den layouts in the building, so the den could be used as a second bedroom based on some new bedroom standards today,” Mr. Bibby said.

“In the original portion of the building, it’s extremely hard to find a balcony [like this one has]. And this has a north view, so it did have more natural light because on the south side there is a commercial building across the street, so the views are more obstructed.”