Church loft discounted during private sale

34 CLAREMONT ST., NO. 103, TORONTO

ASKING PRICE: $598,000

SELLING PRICE: $610,000

PREVIOUS SELLING PRICES: $389,000 (2011); $335,000 (2008); $237,500 (2003); $126,339 (1997)

TAXES: $2,286 (2017)

DAYS ON THE MARKET: Six

LISTING AGENT: Andrew Ipekian, Keller Williams Referred Urban Realty

The Action: Near Trinity Bellwoods Park, this hard loft was privately listed for about $560,000 for two months this winter. But it failed to make headway, so agent Andrew Ipekian suggested an increase in price and marketing outreach. Within an hour of its release in February, a buyer made an over-asking offer of $610,000 to stop the seller from seeking more bids.

"There wasn't anything else available in the building, so this was the only opportunity," said Mr. Ipekian, who notes the last comparable unit sold six months prior.

"Not to mention the price point at about $600,000 – although it's still a lot of money – is rather economical for most people."

What They Got: This 580-square-foot unit is one of about a dozen condominiums in a converted former church hall. It has a private deck and south-facing backyard.

The outdoor space is accessible from an open living and dining area with a wood-burning fireplace and is also visible from the bedroom and galley kitchen. Laundry facilities are included. Monthly fees, with water, are $433.

The Agent's Take: "The Queen West neighbourhood is so sought after, people are willing to live in a smaller space to have that perfect location," Mr. Ipekian said.

"It's a small space with low condo fees, parking and locker included, combined with a loft feeling with ten-foot ceilings, hardwood floors throughout and your own backyard patio. It was basically like a house on the ground floor."