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done deal

Sotheby’s International Realty Canada

233 Carlaw Ave, No. 707, Toronto

Asking price: $499,000

Selling price: $520,000

Previous selling price: $300,000 (2014); $276,000 (2010); $153,522 (2008)

Taxes: $1,909 (2019)

Days on the market: Four

Listing agents: Sameer Ismail, Christian Vermast and Paul Maranger, Sotheby’s International Realty Canada

The action

A garment factory in Toronto's Leslieville was converted more than 10 years ago to create the Garment Factory Lofts.Sotheby’s International Realty Canada

This one-bedroom loft is a coveted size at the Garment Factory Lofts, according to agent Sameer Ismail. But to ensure its visibility among larger vacancies on other floors, it was given a makeover, complete with staged furnishings, and a $499,000 price tag in late September.

“It’s in a very competitive price point – everyone can afford it – so they don’t come up very often at all,” said Mr. Ismail, whose clients accepted a bully offer of $520,000.

“It was a great sale in the sense that it was in line with other sales that had happened in the building.”

What they got

A kitchen runs along one wall of the combined living and dining area.Sotheby’s International Realty Canada

More than 10 years ago, this former garment factory was converted into residential lofts and topped up with new loft-like suites, such as this 520-square-foot unit with 10-foot ceilings and hardwood floors.

The layout is open concept with sleeping quarters off the main hallway and a combined living and dining area with a kitchen set up along one wall and sliding balcony doors on the other.

Laundry machines and a storage locker are included with the unit. Monthly fees of $359 pay for water, a concierge, a gym and a party room.

The agent’s take

The unit has 10-foot ceilings and hardwood floors.Sotheby’s International Realty Canada

"It’s an entry-level unit, so it’s one of the smaller units in the building,” Mr. Ismail said. “It’s steps to Queen Street and close to shops and restaurants, and you have easy access to the core through transit.”

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