House of the Week: $2 million for a Junction loft with a design pedigree (and secret rooms)
(Image: Justice Darragh/Fossil and Bone Studios)
Address: 2989 Dundas Street West
Neighbourhood: Junction Area
Agent: Laura Maria Fernandez and David John Tonon, Royal LePage, Johnston and Daniel Division, Brokerage
Price: $1,998,000
The Place: Industrial designer Marco Pecota’s west-end loft takes up the second and third floors of a Dundas West building. (His showroom, Pekota , currently occupies the main-floor commercial space.)
Bragging Rights: Where to begin? Pecota’s eye for layout and décor separates this place from Toronto’s endless supply of rectangular, glassy modern housing stock. But if a design pedigree isn’t enough, let’s go with the actual airplane wing that floats between the master bedroom and living room, or the “secret office” that hides behind a pair of sliding doors at the back of a closet on the second floor. Potential buyers can see more of Pecota’s work at The Passenger, a nearby restaurant where he handled the interior design.
Big Selling Point: There are many here—the spiral staircase leading to a reading loft, the 600 square feet of deck—but for our money, the secret Moroccan-type room off the reading loft is the winner. It’s the perfect place to cozy up with a book, or a perfect playroom for little ones.
Possible Deal Breaker: Fans of white-walled minimalism will probably not see the appeal, but potential buyers with similarly eccentric sensibilities will find something (or some things) to pull out the chequebook for.
By the Numbers:
• $1,998,000
• 600-square-foot deck
• 3 storeys
• 2 bedrooms
• 2 washrooms
• 2 parking spaces
• 1 airplane wing
• 1 “secret office”
303599 The loft occupies the upper two floors of this building. Pecota's showroom is in the ground-floor commercial space. (Image: Justice Darragh/Fossil and Bone Studios) https://torontolife.com/wp-content/uploads/2015/01/toronto-house-of-the-week-2989-dundas-west-1-200x200.jpg https://torontolife.com/wp-content/uploads/2015/01/toronto-house-of-the-week-2989-dundas-west-1.jpg https://torontolife.com/wp-content/uploads/2015/01/toronto-house-of-the-week-2989-dundas-west-1.jpg 1200 800 [] https://torontolife.com/real-estate/house-of-the-week-2989-dundas-street-west/slide/toronto-house-of-the-week-2989-dundas-west-1/ toronto-house-of-the-week-2989-dundas-west-1 0 0
(Image: Justice Darragh/Fossil and Bone Studios)
303600 The loft's main floor consists of an open-concept living space and a bedroom. (Image: Justice Darragh/Fossil and Bone Studios) https://torontolife.com/wp-content/uploads/2015/01/toronto-house-of-the-week-2989-dundas-west-2-200x200.jpg https://torontolife.com/wp-content/uploads/2015/01/toronto-house-of-the-week-2989-dundas-west-2.jpg https://torontolife.com/wp-content/uploads/2015/01/toronto-house-of-the-week-2989-dundas-west-2.jpg 1200 800 {"copyright":"Justice Darragh"} https://torontolife.com/real-estate/house-of-the-week-2989-dundas-street-west/slide/toronto-house-of-the-week-2989-dundas-west-2/ toronto-house-of-the-week-2989-dundas-west-2 0 0
(Image: Justice Darragh/Fossil and Bone Studios)
303601 The doors in the background lead to a deck. (Image: Justice Darragh/Fossil and Bone Studios) https://torontolife.com/wp-content/uploads/2015/01/toronto-house-of-the-week-2989-dundas-west-3-200x200.jpg https://torontolife.com/wp-content/uploads/2015/01/toronto-house-of-the-week-2989-dundas-west-3.jpg https://torontolife.com/wp-content/uploads/2015/01/toronto-house-of-the-week-2989-dundas-west-3.jpg 1200 800 {"copyright":"Justice Darragh"} https://torontolife.com/real-estate/house-of-the-week-2989-dundas-street-west/slide/toronto-house-of-the-week-2989-dundas-west-3/ toronto-house-of-the-week-2989-dundas-west-3 0 0
(Image: Justice Darragh/Fossil and Bone Studios)
303602 This room is listed on the floor plan as a "secret office." The door is hidden at the back of a closet. (Image: Justice Darragh/Fossil and Bone Studios) https://torontolife.com/wp-content/uploads/2015/01/toronto-house-of-the-week-2989-dundas-west-4-200x200.jpg https://torontolife.com/wp-content/uploads/2015/01/toronto-house-of-the-week-2989-dundas-west-4.jpg https://torontolife.com/wp-content/uploads/2015/01/toronto-house-of-the-week-2989-dundas-west-4.jpg 1200 800 [] https://torontolife.com/real-estate/house-of-the-week-2989-dundas-street-west/slide/toronto-house-of-the-week-2989-dundas-west-4/ toronto-house-of-the-week-2989-dundas-west-4 0 0
(Image: Justice Darragh/Fossil and Bone Studios)
303603 And here's the main-floor washroom. (Image: Justice Darragh/Fossil and Bone Studios) https://torontolife.com/wp-content/uploads/2015/01/toronto-house-of-the-week-2989-dundas-west-5-200x200.jpg https://torontolife.com/wp-content/uploads/2015/01/toronto-house-of-the-week-2989-dundas-west-5.jpg https://torontolife.com/wp-content/uploads/2015/01/toronto-house-of-the-week-2989-dundas-west-5.jpg 1200 800 {"copyright":"Justice Darragh"} https://torontolife.com/real-estate/house-of-the-week-2989-dundas-street-west/slide/toronto-house-of-the-week-2989-dundas-west-5/ toronto-house-of-the-week-2989-dundas-west-5 0 0
(Image: Justice Darragh/Fossil and Bone Studios)
303604 And the main-floor bedroom. (Image: Justice Darragh/Fossil and Bone Studios) https://torontolife.com/wp-content/uploads/2015/01/toronto-house-of-the-week-2989-dundas-west-6-200x200.jpg https://torontolife.com/wp-content/uploads/2015/01/toronto-house-of-the-week-2989-dundas-west-6.jpg https://torontolife.com/wp-content/uploads/2015/01/toronto-house-of-the-week-2989-dundas-west-6.jpg 1200 800 [] https://torontolife.com/real-estate/house-of-the-week-2989-dundas-street-west/slide/toronto-house-of-the-week-2989-dundas-west-6/ toronto-house-of-the-week-2989-dundas-west-6 0 0
(Image: Justice Darragh/Fossil and Bone Studios)
303605 The centrepiece of the home is this library and living room on the second floor. And yup, that's an airplane wing. How did it get into the building? How will it ever get out again? Who knows? (Image: Justice Darragh/Fossil and Bone Studios) https://torontolife.com/wp-content/uploads/2015/01/toronto-house-of-the-week-2989-dundas-west-7-200x200.jpg https://torontolife.com/wp-content/uploads/2015/01/toronto-house-of-the-week-2989-dundas-west-7.jpg https://torontolife.com/wp-content/uploads/2015/01/toronto-house-of-the-week-2989-dundas-west-7.jpg 1200 800 {"copyright":"Justice Darragh"} https://torontolife.com/real-estate/house-of-the-week-2989-dundas-street-west/slide/toronto-house-of-the-week-2989-dundas-west-7/ toronto-house-of-the-week-2989-dundas-west-7 0 0
(Image: Justice Darragh/Fossil and Bone Studios)
303606 A spiral staircase in the library leads to a loft. (Image: Justice Darragh/Fossil and Bone Studios) https://torontolife.com/wp-content/uploads/2015/01/toronto-house-of-the-week-2989-dundas-west-8-200x200.jpg https://torontolife.com/wp-content/uploads/2015/01/toronto-house-of-the-week-2989-dundas-west-8.jpg https://torontolife.com/wp-content/uploads/2015/01/toronto-house-of-the-week-2989-dundas-west-8.jpg 1200 800 {"copyright":"Justice Darragh"} https://torontolife.com/real-estate/house-of-the-week-2989-dundas-street-west/slide/toronto-house-of-the-week-2989-dundas-west-8/ toronto-house-of-the-week-2989-dundas-west-8 0 0
(Image: Justice Darragh/Fossil and Bone Studios)
303607 The loft is lined with bookshelves. (Image: Justice Darragh/Fossil and Bone Studios) https://torontolife.com/wp-content/uploads/2015/01/toronto-house-of-the-week-2989-dundas-west-9-200x200.jpg https://torontolife.com/wp-content/uploads/2015/01/toronto-house-of-the-week-2989-dundas-west-9.jpg https://torontolife.com/wp-content/uploads/2015/01/toronto-house-of-the-week-2989-dundas-west-9.jpg 1200 800 {"copyright":"Justice Darragh"} https://torontolife.com/real-estate/house-of-the-week-2989-dundas-street-west/slide/toronto-house-of-the-week-2989-dundas-west-9/ toronto-house-of-the-week-2989-dundas-west-9 0 0
(Image: Justice Darragh/Fossil and Bone Studios)
303608 A small passageway at the far end of the loft leads to this room, another "secret" space with cool floor tiles and a cozy feel. (Image: Justice Darragh/Fossil and Bone Studios) https://torontolife.com/wp-content/uploads/2015/01/toronto-house-of-the-week-2989-dundas-west-10-200x200.jpg https://torontolife.com/wp-content/uploads/2015/01/toronto-house-of-the-week-2989-dundas-west-10.jpg https://torontolife.com/wp-content/uploads/2015/01/toronto-house-of-the-week-2989-dundas-west-10.jpg 1200 800 {"copyright":"Justice Darragh"} https://torontolife.com/real-estate/house-of-the-week-2989-dundas-street-west/slide/toronto-house-of-the-week-2989-dundas-west-10/ toronto-house-of-the-week-2989-dundas-west-10 0 0
(Image: Justice Darragh/Fossil and Bone Studios)
303609 Here's the master washroom. (Image: Justice Darragh/Fossil and Bone Studios) https://torontolife.com/wp-content/uploads/2015/01/toronto-house-of-the-week-2989-dundas-west-11-200x200.jpg https://torontolife.com/wp-content/uploads/2015/01/toronto-house-of-the-week-2989-dundas-west-11.jpg https://torontolife.com/wp-content/uploads/2015/01/toronto-house-of-the-week-2989-dundas-west-11.jpg 1200 1800 {"copyright":"Justice Darragh"} https://torontolife.com/real-estate/house-of-the-week-2989-dundas-street-west/slide/toronto-house-of-the-week-2989-dundas-west-11/ toronto-house-of-the-week-2989-dundas-west-11 0 0
(Image: Justice Darragh/Fossil and Bone Studios)
303610 And the master bedroom. (Image: Justice Darragh/Fossil and Bone Studios) https://torontolife.com/wp-content/uploads/2015/01/toronto-house-of-the-week-2989-dundas-west-12-200x200.jpg https://torontolife.com/wp-content/uploads/2015/01/toronto-house-of-the-week-2989-dundas-west-12.jpg https://torontolife.com/wp-content/uploads/2015/01/toronto-house-of-the-week-2989-dundas-west-12.jpg 1200 1800 {"copyright":"Justice Darragh"} https://torontolife.com/real-estate/house-of-the-week-2989-dundas-street-west/slide/toronto-house-of-the-week-2989-dundas-west-12/ toronto-house-of-the-week-2989-dundas-west-12 0 0
(Image: Justice Darragh/Fossil and Bone Studios)
303611 And here's that back deck. (Image: Justice Darragh/Fossil and Bone Studios) https://torontolife.com/wp-content/uploads/2015/01/toronto-house-of-the-week-2989-dundas-west-13-200x200.jpg https://torontolife.com/wp-content/uploads/2015/01/toronto-house-of-the-week-2989-dundas-west-13.jpg https://torontolife.com/wp-content/uploads/2015/01/toronto-house-of-the-week-2989-dundas-west-13.jpg 1200 800 {"copyright":"Justice Darragh"} https://torontolife.com/real-estate/house-of-the-week-2989-dundas-street-west/slide/toronto-house-of-the-week-2989-dundas-west-13/ toronto-house-of-the-week-2989-dundas-west-13 0 0
(Image: Justice Darragh/Fossil and Bone Studios)
I don’t know, you could buy a building on the Danforth or pretty much any other commercial street and convert the upstairs units into one loft for pretty much the same price. That way you’d be able to choose who occupies the first floor and collect rent. This guy decides to move his business elsewhere you could be stuck with Toronto’s “hippest” new bar downstairs.
You know what else separates it from the endless supply of glassy rectangular Toronto housing stock? About 10 kilometers. Seems like a premium price to pay in an neighborhood that’s a passing fad. If real estate is about location, location and location, I’m kind of feeling this one barely qualifies as having one of those.
It’s $2m for the building (zoned commercial with a two storey residential unit above). The article states that the owner also occupies the main floor retail portion…so clearly whoever owns the building decides if they want Toronto’s hippest new bar there.. Which also would require a zoning amendment to permit that usage.
Depends what your definition of location location location is. Is it the concrete jungle with little green space, perpetual traffic congestion or an area close to parks, good schools that has history and character where you say hi to the people you recognize on the street?
The story describes the unit as the loft that takes up the second and third floors of a Dundas West building. Nothing about ownership of the entire building. Not uncommon to have a building divided into separate ownerships.
Since you have a vested interest in the property, why don’t you take this opportunity to tell us more about it. Obviously you feel the article has missed key points..
The East/West discussion always comes up with clients. From the images the place looks pretty unique. Income from the commercial space is a great help. It might not be for everyone, but it does look cool.
I have no interest in the property.. just wanted to shed some light on what’s being sold. It’s 2989 Dundas Street West – “3 storeys”. No unit #, which would indicate it’s the whole building that is for sale. Your comment was basically that you can’t pick your neighbours or who occupies the space below you, and that for 2m you wouldn’t even be collecting rent. Not the case here. http://realtor.ca/propertyDetails.aspx?PropertyId=14552419
The biggest barrier to a property like this is the mixed commercial-residential zoning. Banks will require a commercial mortgage, which need a min of 30% down payment & usually have higher interests rates. Not to mention that the commercial portion of the building will be taxed at commercial rates (typically 3x residential tax rates) and I may be wrong on this, but the commercial portion of the building may also be subject to HST when the deal is closed (another 13% to dish out). Not to mention the new owner will be paying a premium for most admin functions required for the house, everything from appraisal to insurance, etc.
Even though it has residential components, it’s kinda misleading profiling it as a ‘House of the week’. Not hating on the property, but this type of real estate isn’t for everyone.
Points well taken. Hopefully the purchaser took these issues into account, or at least discussed them with their Agent.
Guess you haven’t visited J-town in awhile. Drop by anytime!
Love the library area and the seats at the kitchen table. Great use of the wood in the chairs!.