43 HANNA AVE., NO. 126, TORONTO
ASKING PRICE
$585,000
SELLING PRICE
$575,000
PREVIOUS SELLING PRICE
Not available
TAXES
$3,962 (2012)
DAYS ON THE MARKET
Four
LISTING AGENT
Christopher Bibby, Sutton Group-Associates Realty Inc.
The Action: In the Toy Factory Lofts in Liberty Village, this one-bedroom-plus-den loft was listed unsuccessfully for months.So the seller recruited Christopher Bibby – an expert at selling lofts and downtown condominiums – who minimized and reorganized the furnishings and raised its price tag to reflect its fashionable and functional makeover. Within days, there were about 20 showings and a serious buyer who negotiated a deal that offered more money than the original list price.
What They Got: A historic brick building once serving as a factory for Irwin Toy is now a premium destination filled primarily with authentic lofts, such as this roughly 1,200-square-foot version with exposed brick walls and 13-foot wood ceilings.
This ground-floor space was the project's model suite, so the sellers enjoyed its tailor-made furnishings and finishes, from built-in Miele and Viking appliances in the Scavolini kitchen to dark hardwood floors and glass and wood-panelled walls in the living and dining area.
Semi-enclosed spaces include a den and a master suite with a walk-in closet and the smaller of two marble-clad bathrooms.
Ensuite laundry facilities, a locker and parking are factored into the price of the unit, which is tied to monthly fees of $387 for water and heating, concierge and amenities, such as a gym, party room and terrace with barbecue stations.
The Agent's Take: "If you want to live in a hard loft in Liberty Village, this is the only option because it's all condos and soft lofts [there]," Mr. Bibby said. "To get into the building you're looking at over half a million dollars, whereas the other buildings, the average is in the mid-$300,000s or high $300,000s."
But some buyers were willing to pay the price for a one-of-a-kind loft like this.
"This is probably the most renovated and unique plan I've seen at the Toy Factory Lofts," Mr. Bibby said.
"As an incentive, the builder [originally] left the suite 'as is,' … all the lighting, custom-made furniture and the kitchen was custom, not the traditional Scavolini kitchen that all the other units had."