261 KING ST. E., NO. 606, TORONTO
ASKING PRICE $875,000
SELLING PRICE $847,500
PREVIOUS SELLING PRICES $745,000 (2010); $683,000 (2006); $375,569 (2003)
TAXES $5,254 (2013)
DAYS ON THE MARKET 16
LISTING AGENTS Christopher Bibby and Christopher Harrop, Sutton Group-Associates Realty Inc.
The Action: The owner of this vacant one-bedroom-plus-den suite at Abbey Lane Lofts spent $9,000 on staging – far more than the average seller invests – hoping to accelerate the sale process, especially without another loft to detract buyers’ attention mid-March. The money and effort paid off with several showings daily and an offer by the second week.
What They Got: This six-storey building contains nearly 30 one- and two-level lofts, such as this 1,560-square-foot suite with an open entertaining area outfitted with vaulted, sky-lit ceilings, a new gas fireplace and a walkout to a terrace with gas and water lines and a retractable awning.
Hardwood floors flow throughout, from a remodelled main-floor kitchen to an upper den and master bedroom with access to the larger of two updated bathrooms.
The unit comes with appliances for cooking and cleaning, parking and monthly fees of $626.
The Agent’s Take: “It’s a very unique loft with a lot of great features, including the fact it’s a double wide unit, so it has south-facing windows that brings in a lot of natural light,” agent Christopher Harrop said.
“It’s the second largest unit in the building and went for the highest price recorded for sale in the building.”
This loft’s style also spoke to buyers. “The building is 10 years old, so the current owners gave it a facelift and redid the kitchen, washrooms and built-ins throughout,” agent Christopher Bibby said.
“The most unique features of this condo are the skylights in the living room and 390-square-foot terrace as it’s very uncommon to have this much exterior space downtown, especially in a loft building.”
Editor's Note: Done Deals contain information gathered from real estate agents, home buyers, home sellers and sale prices that are publicly available from government sources. While we try to publish Done Deals as soon as possible after the transaction has occurred, long closings can cause delays.