Buyer makes a sweet deal at Vinegar Lofts

Written by Sydnia Yu | Published in The Globe and Mail
In the Press
November 12, 2014

Published Friday, Oct. 31 2014




PREVIOUS SELLING PRICE $422,500 (2010); $301,425 (2009)

TAXES $2,694 (2013)


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

The Action: This summer, a one-bedroom-plus-den suite in the Vinegar Lofts sold in a bidding war, so this identical suite on the third floor above it had immediate interest from the buyers who lost out a few weeks earlier. A deal was negotiated for the full asking price.

What They Got: A century-old warehouse was refurnished and topped up with new floors to house 38 hard and soft lofts, including this authentic loft with original exposed brick walls, wood post and beams and 13-foot ceilings.

Concrete floors were poured in the den and principal room with the stainless steel appliances along one wall and open eating and entertaining areas along the sliding doors to an uncovered south-facing terrace with a gas outlet.

Enclosed spaces include a master suite and a four-piece bathroom. The unit comes with laundry machines, a locker and parking, plus monthly fees of $471.

The Agent’s Take: “It’s difficult to find a good loft space in the city right now, but to have a loft space that has exterior space is very uncommon,” says agent Christopher Bibby, who explained the advantages of this unit over the one below.

“[Plus] the Humane Society is on the south side, and our unit cleared that, so we had a better view, a lot more natural light and different features and upgrades.”

The mix of old and new also adds to the building’s cache. “You have the best of all worlds in one building,” Mr. Bibby says.

“Dealing with loft conversions, there’s typically not a lot of ongoing inventory in the city, so any agent will tell you the minute a hard loft conversion comes up it goes right away.”

Editor’s note: In the Press|Done Deals contain information gathered from real estate agents, home buyers, home sellers and sale prices that are publicly available from government sources. While we try to publish In the Press|Done Deals as soon as possible after the transaction has occurred, long closings can cause delays.

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