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Done Deal, 781 King Street West, unit 512, Toronto
Done Deal, 781 King Street West, unit 512, Toronto

Five bidders battle for authentic Toronto loft Add to ...

781 King St W. No. 512

ASKING PRICE $359,900

SELLING PRICE $405,000

PREVIOUS SELLING PRICE $330,000 (2008); $217,900 (2000); $187,000 (1999); $164,624 (1997)

TAXES $2,300 (2011)

DAYS ON THE MARKET 10

LISTING AGENT Julie Kinnear, Royal LePage Real Estate Services Ltd.

The Action: On occasion, units in the Gotham Lofts sell for more than the asking price in a bidding war, which was the case for this authentic one-bedroom loft after five bids were registered.

What They Got: In the late 1990s, a nearly century-old harness factory was among the first in the city to be converted into a boutique loft residence. This one contains 47 one and two-storey lofts, including this fifth floor unit with original posts and beams, ten-foot wood ceilings, exposed yellow brick walls and large windows.

New features include upgraded hardwood floors, granite kitchen counters, a movable island and new stainless steel appliances, including a gas stove, in the open principal room of this 710-square-foot space.

To keep things clean and tidy, there is a custom bedroom closet, stacked laundry machines and a remodeled three-piece bathroom, plus a locker and parking.

The monthly fee of $494 pays for water and upkeep of a gym, party room and visitor parking, as well as concierge shared with 801 King Street.

The Agent’s Take: “It’s a real post and beam loft and people loved that. There are a lot of new lofts out there that aren’t really lofts, they're just condos with higher ceilings and cement,” says agent Julie Kinnear. “It’s a good use of the square footage. There are no odd angles or weirdness about it, which is a real bonus.”

While owners often lose ideal sightlines to new adjacent developments, this suite will gain one. “The view that this particular unit has will be of their courtyard, which is going to be really nice,” adds Ms. Kinnear.

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