House of the Week: $3.6 million for a live-work building in the Fashion District

| April 3, 2013

Address: 548 Richmond Street West
Neighbourhood: Waterfront Communities-The Island Agent: Robin Tully, Royal LePage/J & D Division, Brokerage; Marc Paillé and Michell Pérez, Royal LePage Signature Realty Price: $3,600,000

The Place: A minimalist building in the Fashion District containing both a large commercial space and a two-bedroom residence.

Bragging Rights: The juxtaposition between the stark exterior and the warm, wood-toned interior won a residential design award from the Ontario Association of Architects in 1997.

Big Selling Point: The commercial space has an impressive street entrance and enough space (and parking) to accommodate multiple employees—basically, it blows away the average home office.

Possible Deal Breaker: Living at the office—literally—doesn’t appeal to everyone, which may explain why this live-work space has been on the market since early last summer.

By The Numbers: • $3,600,000 • $13,121.54 in property taxes (2012) • 2,258-square-foot living space • 1,764-square-foot office • 550 square feet of outdoor space

• 4-car underground garage • 3 bathrooms • 2 bedrooms • 1 private elevator • 1 wood-burning fireplace