670 Richmond St. W., No. 101, Toronto
Asking price: $969,900
Selling price: $985,000
Previous selling prices: $530,000 (2007); $299,000 (2000); $259,000 (1998)
Taxes: $4,259 (2018)
Days on the market: Four
Listing agents: Paul Johnston and Matt Manuel, Right at Home Realty Inc.
A dozen buyers took a spin around this two-storey loft in June. The unit is in a boutique building where ownership opportunities are rare, so shoppers had to be quick on their feet. After just four days on the market, one visitor’s $985,000 bid sealed the deal.
“They come up pretty infrequently,” agent Paul Johnston said. "We sold one of the larger units in the building maybe two years ago. We wanted to price this loft where the value was and we exceeded that a little bit.”
What they got
The former home of Decca Records is now a community of a dozen lofts, including this 1,100-square-foot unit with 10-foot ceilings and south-facing windows.
The cooking and dining areas are open-concept, as well as an adjacent entertaining space with a fireplace and stairs to a raised den.
Enclosed are two bedrooms with bathrooms. The one at the bottom of the spiral staircase also has a private terrace.
Laundry facilities and parking complete the loft. Monthly maintenance fees of $765 includes water costs.
The agent's take
“It’s in a small building, has a large footprint and it’s rentable, so it was exactly what [the buyer] had in mind,” Mr. Johnston said.
“[Plus] they are large suites with rare, wood-burning fireplaces.”
Many buyers found the loft had the feel of a freehold home. “There are four lofts similar to this, which is to say they have direct street access and the main floor is a bit elevated. So the nice thing is you’re close to the street, but up off it for more privacy.” Mr. Johnston said.
“It’s also on Richmond, west of Bathurst … so it’s a great deal quieter and more pedestrian-friendly.”