One-bedroom sale sets record for landmark Toronto building
Published Thursday, Feb. 11, 2016
637 LAKE SHORE BLVD W., No. 106
ASKING PRICE $649,900
SELLING PRICE $634,900
TAXES $3,479 (2015)
DAYS ON THE MARKET 10
LISTING AGENT Christopher Bibby, Sutton Group-Associates Realty Inc.
The action: Mid-January was not an ideal time to try to lure buyers to this one-bedroom-plus-den unit at Tip Top Lofts near the Billy Bishop airport. But with little turnover for suites, especially for smaller ones such as this one, 18 visitors ventured over in the cold and one negotiated a price of $634,900, which set a building record for similarly-sized units.
What they got: Originally built as a menswear clothing warehouse in 1929, the Art Déco Tip Top building was refurbished and expanded in 2006 as a loft residence with 256 units. This roughly 1,100-square-foot unit has 16-foot ceilings, exposed ductwork and warehouse windows facing southwest.
The seller upgraded the interior with new lights, wide plank engineered hardwood floors and doors for the bedroom and bathroom also revamped with a Caesarstone vanity, plus a custom bookcase with a sliding ladder in the entertaining area, and stainless steel appliances and custom concrete waterfall island in the L-shaped kitchen.
The unit also has laundry machines, a locker and parking, as well as monthly fees of $661 to cover water and heating, concierge, fitness and party facilities.
The agent’s take: “It’s such a landmark building in the city,” agent Christopher Bibby says. “And there are no [other] lofts on the lakeshore.”
Though the unit’s size and shape were typical, its visual appeal – both added and natural – was outstanding. “It was such a beautiful space,” Mr. Bibby notes.
“[Though] there wasn’t any exterior space because it’s a ground level unit, but the nice thing about facing west at Tip Top is it overlooks Coronation Park … Martin Goodman Trail and a large tree outside the window, so it was a very tranquil setting.”
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