45 E. CORDOVA ST., VANCOUVER
LIST PRICE $1.190-million
SALE PRICE $1-million
TAXES $3,934 (2013)
DAYS ON MARKET 24
LISTING AGENT Glenn Feldstein, Sotheby’s Realty
What They Got: The 1906 Koret Loft factory building was redeveloped in 2006 as 118 units of commercial and residential, with retail and offices on the ground floor.
Owner/designer Johnny Goulding completely customized his ground floor 2,196 square-foot, two-level loft – zoned for commercial and living space – by ripping up the asphalt factory flooring and creating a modern live/work space with an industrial feel.
The wide-plank original fir floors, exposed timber beams (the size of old-growth trees) and large original windows give the two-bedroom unit an old-world warmth.
The kitchen and bathrooms have been updated, but the industrial look extends to those areas, too.
The unit has three sleeping areas, three full bathrooms, hot-water radiant heating throughout, and opens to a massive courtyard, with barbecue areas, landscaping and seating. Because it is zoned commercial, there are businesses, such as an architect firm and hair salon, in the building.
The Action: “We had approximately 15 buyers through the property before we received our first offer, which was accepted,” says listing agent Glenn Feldstein. “Most buyers wanted a space that fit their business and their lifestyle, and their taste. As far as the market goes in Gastown, things are doing quite well. Properties don’t stay on the market too long.”
The Realtor’s Take: “It’s one of the largest lofts downtown,” says Mr. Feldstein.
“You find a lot of artist live/work lofts, but you don’t find commercial live/work spaces. So with this, I encountered people who were looking for a place not just to live, but to live and work or just work. So it opens to a broader spectrum of buyers.”
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