Sale of the Week: the $424,000 condo that proves downtown doesn’t have a monopoly on cool lofts
The Property: This loft, on the second storey of a converted industrial building, has 13-foot ceilings with exposed ductwork, plus two bedrooms and a private terrace on the building’s roof, not accessible from within the unit.
The History: The building, which dates to 1932, was once a textile factory. Developers converted it into condos in 2003. The suite’s previous owners, a young professional couple, decided to sell so they could trade up to a detached home.
The Fate: This industrial neighbourhood northwest of Eglinton and Allen will likely keep attracting new development. The nearby Eglinton light-rail line, currently under construction, is a powerful lure for investors.
The Sale: The agent wanted to attract the same type of young professionals that buy downtown condos, and that’s exactly who bought the unit. The first-time buyers got more square footage than they would have been able to afford in the core. The unit was on the market for two weeks.
By the Numbers:
• 1,177.5 square feet
• $604.55 in maintenance fees
• 398.8 square foot rooftop patio
• 99 per cent of list price
• 82-year-old building
• 14 days on the market
• 13-foot ceilings
• 2 bedrooms
• 2 washrooms
• 2 storage lockers
• 1 parking space
• 1 offer