Sale of the Week: the $400,000 Parkdale suite that shows hard lofts can hold their value
Address: 24 Noble Street, Unit 406
Neighbourhood: Parkdale
Agent: Edwin Brdlik, Toronto Lofts Realty Corp., Brokerage
The Property: This hard loft has exposed brick, wooden beams and hardwood floors throughout. Unlike many units of similar size, though, it also has a separate bedroom. Two large windows and a space-saving storage unit built into the raised den further separate it from the rest.
The History: The building, formerly a toy factory, was converted into the Noble Court Lofts in 1989. After the current seller purchased the apartment, she had the kitchen upgraded with new cabinets and shelving, and also built matching shelves for the living room. In the bathroom, she added a one-of-a-kind cement bathtub, with a matching sink.
The Fate: The agent estimates that authentic lofts make up just three per cent of Toronto’s total condo market, and they aren’t likely to become much more numerous in the future: there are only so many untouched ex-industrial buildings to go around. The constrained supply can make a unit like this one a better-than-average investment.
The Sale: The unit sold for $162,000 when it was first put on the market in 1989. The real estate crash of the mid-nineties caused its value to dip to $50,000 at one point. In 2010, the current seller got a hold of it for $323,000. After six offers in the space of a week, unit 406 sold for $406,406 (how appropriate) following a few rounds of negotiation.
By the Numbers:
• $406,406
• 550 square feet
• 108 per cent of list price
• 26 years since being converted into a condo
• 17 days on the market
• 6 offers
• 1 separate bedroom
• 1 bathroom
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- The building, a former toy factory, was converted into condos in 1989. There are around 80 units inside.
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- The living area has exposed brick and Douglas fir beams.
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- 1200
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- The unit has lots of historical appeal and a gritty look, but it's only 550 square feet and it doesn't come with a storage locker. That's why the previous owner built a raised platform, visible here to the right. There's storage underneath and a den area on top.
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- 1200
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- A closer look at the raised den.
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- 1200
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- The kitchen has wood shelves and cabinets and a modest stove.
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- Also in the kitchen: the laundry facilities. That's a combo washer and dryer.
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- And here's the bedroom.
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- 1200
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- The bathroom sink and tub are made of concrete, which the previous owner poured herself.
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 following a few rounds of negotiation.
By the Numbers:
• $406,406
• 550 square feet
• 108 per cent of list price
• 26 years since being converted into a condo
• 17 days on the market
• 6 offers
• 1 separate bedroom
• 1 bathroom
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Wow a reasonable price for a loft that is actually much nicer than some of the higher priced conversions you have listed.
This building is amazing if you like hearing your neighbours fuck.
Beautiful!
This is beautiful. Very cosy and lots of character.
You are just a puck ing hater
Am I missing something here? $406k+ for 505 sq ft?
It’s hipster enough for me. That old sewing machine made my unkempt facial hair swoon! Hopefully there are mason jars in the cupboards and craft beer in the fridge too.