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Rare large soft loft in Annex sells after two bully offers

Done Deal, 380 Macpherson Ave., No. 304, Toronto

380 MACPHERSON AVE., No. 304, TORONTO

ASKING PRICE $995,000

SELLING PRICE $1,165,000

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PREVIOUS SELLING PRICE $557,143 (2009)

TAXES $4,575 (2016)

DAYS ON THE MARKET One

LISTING AGENT Marni Lokash, Harvey Kalles Real Estate Ltd.

The Action: During the same week in February, agent Marni Lokash was promoting the virtues of two units at Madison Avenue Lofts. While one sold on the scheduled offer date, this two-bedroom plus den corner loft drew a pair of bully offers. After the agent notified all other interested parties of the bully offers, a third offer materialized and the sellers made their selection.

There was quite a bit of crossover in showings between the two units, despite being different price ranges," Ms. Lokash recalls. "There are only a few units in the building that are similar to this, so when they come up for sale, they are at a premium."

What They Got: The building is a former hydro facility converted into hard lofts and also expanded to make new loft-style suites. This roughly 1,500-square-foot unit falls in the latter category, but still features 12 1/2-foot ceilings, exposed ductwork and multi-pane windows.

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The living and dining area is completely open with laminate floors, kitchen island and stainless steel appliances.

Enclosed areas include an office and two bedrooms with balconies and walk-in closets. There are also two bathrooms and laundry facilities.

A locker and parking complete the package. Monthly fees of $912 pay for water, heating, concierge, gym, party room and rooftop garden.

The Agent's Take: "The appeal is that there are a limited amount of condo buildings in the area. This one offers fantastic loft-like spaces,"Ms. Lokash says.

She notes this unit's particular asset was "being a large corner unit with huge window space, natural light and a south view of the city."

Video: Done Deals: This unique two-bedroom corner-unit condo sold over asking in just one day
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