Second offer takes unique three-storey Toronto factory loft

Written by Sydnia Yu | Published in The Globe and Mail
In the Press
May 24, 2013

Published Thursday, May. 23, 2013


ASKING PRICE $1,495,000

SELLING PRICE $1,300,000

PREVIOUS SELLING PRICES $471,000 (1998); $349,000 (1996)

TAXES $5,776 (2011)


LISTING AGENT Christopher Bibby, Sutton Group Associates Realty Inc.

The Action: On a residential street between popular restaurants and cafés on Harbord and College streets, this three-storey, ground floor unit at the Button Factory Lofts was slowly cased by about 60 buyers starting in the fall. A lowball offer was turned away, but the seller’s patience paid off with another viable bid by the end of winter.

What They Got: In the 1990s, a century-old, uniform factory was redeveloped with 13 raw loft spaces. This one occupying the building’s north, east and south corner was the largest with 2,400 square feet of interior space and 600 square feet outdoors, excluding the private front yard.

The main floor has three entry points, including a door between the carport and the kitchen and dining area and the warehouse’s original front entrance between the garden and fireside living space with 24-foot ceilings, original post and beams, hardwood floors and custom spiral staircase.

A second-floor terrace can be reached from the den and bedroom, while the rooftop deck is at the top of the stairs from a third floor master suite with one of three bathrooms.

Without recreational facilities or concierge on site, monthly fees are just $964.

The Agent’s Take: “It’s a hidden gem with only 13 units in the complex, so there’s next to no turnover,” agent Christopher Bibby said. “[This unit] is such a unique property, it is the largest in the complex and it has the most exterior space.”

Lofts rarely possess an original front door, skylights, wood-burning fireplace, spiral staircase and outdoor space, much less all those elements combined, he said.

“In a lot of conversions, you’re on a higher floor. Here, the entire unit was at grade, so it really felt more like a freehold property, but it did have lofty characteristics,” Mr. Bibby added.

“It’s not common in a loft to have 2,400-square feet spread over three floors.”

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