36 WATER ST., UNIT 310
ASKING PRICE $1.119 million
SELLING PRICE $1.126 million
PREVIOUS SALE PRICE $800,000 (2010)
DAYS ON MARKET 1
MAINTENANCE FEE $750
LISTING AGENT Paul Albrighton, Re/max Crest Realty Westside
The Action: The listing agent received two offers on the 1,607-square-foot loft the day it was listed. He had several other interested parties. The buyer was a local person attracted to the 16-foot, 3-inch height of the living room ceiling, the spacious two bedrooms, two office spaces, gallery area, two full bathrooms, glass sliding walls and high-end appliances. The unit has a raised living room with reclaimed heritage windows and skylights, as well as geothermal air conditioning and a rooftop patio. "Gastown has become more popular for upscale condos and lofts like this one," says the listing agent, Paul Albrighton.
What They Got: This two-level loft in trendy Gastown is in one of the "most unique architectural buildings downtown," according to Mr. Albrighton, who specializes in lofts. The 46-unit Terminus building was originally built as a hotel in 1910 and converted to contemporary lofts in 2009 – one of developer Robert Fung's Gastown conversions. The façade was restored and the building redeveloped, with two additional floors.
The Agent's Take: "Pricing in Gastown is up significantly, 20 to 30 per cent in the last 15 months," says Mr. Albrighton. "While the overall market in Vancouver has cooled down, there are still enough buyers willing to pay a premium for unique properties and especially lofts."
He says there are no two-level lofts under construction in Gastown, so the property is considered a rarity.