Heritage building loft snapped up in a day

Written by Sydnia Yu | Published in The Globe and Mail
In the Press
July 28, 2014

Published Thursday, Jul. 24 2014, 11:54 AM EDT




PREVIOUS SELLING PRICES $506,000 (2010); $261,000 (1992); $144,000 (1986)

TAXES $3,483 (2013)


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

The Action: Few opportunities arise to move into a boutique loft conversion on the edge of Cabbagetown by Riverdale Park, so this multistorey loft was sold within 24 hours.

What They Got: Three decades ago, the cavity of an over-century-old heritage building once home to the Ontario Medical College for Women was reconfigured for 10 private residences, including this second-floor suite with original exposed brick walls, posts and beams.

In recent years, about $100,000 was spent on upgrading the hardwood floors throughout the 1,500-square-foot space, two modern bathrooms and a stylish kitchen with stainless steel appliances, and a deck.

Private quarters encompass two bedrooms and an office off the entrance on the main floor, which has a sky-lit staircase to a catwalk with one wing to a fireside living room and another to the dining and cooking area.

The unit also comes with laundry facilities, a locker and parking in one of the garages along the back of the building, plus monthly fees of $375.

The Agent’s Take: “This is one of those buildings with 10 units, it’s self-managed and very intimate, so the turnover is next to non-existent,” agent Christopher Bibby said. “This is probably one of the most unique properties I’ve sold.”

Its design was one of its more unusual attributes. “The way the space was divided and cut up, it was incredible. It really felt like a house, not a loft, but it still had those authentic loft features, including wood post-and-beam construction, wood ceilings and exposed brick,” Mr. Bibby said.

“[As well,] a lot of people liked the terrace with natural gas and, being enclosed with brick, it was quite private as opposed to glass.”


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