Done Deal, 781 King St. W., No. 512, Toronto
781 KING ST. W., No. 512, TORONTO
ASKING PRICE $449,000
SELLING PRICE $535,000
PREVIOUS SELLING PRICES $405,000 (2012); $330,000 (2008); $217,900 (2000); $187,000 (1999); $180,500 (1998); $164,624 (1997)
TAXES $2,298 (2015)
DAYS ON THE MARKET Eight
LISTING AGENT Nick Horton, Blue Elephant Realty Inc.
The Action: Hard lofts such as this one-bedroom unit at Gotham Lofts often draw smaller crowds with artistic tastes, so agent Nick Horton commissioned custom sketches from Shengyu Cai, the adult colouring book illustrator of the United Colours of Kensington Market. The playful marketing material had such widespread charm, there were 65 visitors and another 60 at the open house, plus unprecedented best and final offers from 21 bidders.
What They Got: What was once a harness warehouse about a century ago is now a boutique residence for more than 50 lofts, such as this 715-square-foot unit with wood ceilings, exposed ductwork and recently refinished wood posts, beams and exposed brick walls.
The owner and architect also spent a large part of $35,000 on a new bathroom, solid wood doors, including a sliding set to the bedroom and an ethanol biofuel fireplace and built-in entertainment system in the living and dining area, plus new custom kitchen backsplashes, stainless steel appliances and laundry machines.
Additional conveniences consist of a locker, parking and monthly fees of $513 for the cost of water, 24-hour concierge, gym and party room.
The Agent's Take: "There aren't a lot of hard loft options in the neighbourhood of King West, and especially affordable hard lofts downtown," Mr. Horton says. "This building has a lot of one-bedroom units in it, so that makes it affordable to a lot of first-time buyers who want something different and don't want a traditional condominium."
Painstaking attention to repairs and unique upgrades were highly admirable. "Because [the seller] is in the design industry, it's all very tasteful," Mr. Horton says.
"He did a custom sliding barn door by a company called Rebarn … so it's a hundred-year-old barnboard from Orillia, and he redid the washroom and put in a dual hood rain shower and Ipe wood decking."