Sale of the Week: the $424,000 condo that proves downtown doesn’t have a monopoly on cool lofts
Address: 1001 Roselawn Avenue, Suite 221 Neighbourhood: Briar Hill Agent: Susan Lee, Slavens and Associates Real Estate Inc., Brokerage
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:
• $424,000 • 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
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