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Patience pays off for sellers of Roncesvalles Village loft

Patience pays off for sellers of Roncesvalles Village loft

globeandmail

As seen in The Globe & Mail’s “Done Deal”

1 Columbus Ave, No. 102, Toronto

Asking Price $1,895,000

Selling Price $2.1-million

Taxes $5,561 (2018)

Days on the Market Seven

Listing Agent Robin Pope, Pope Real Estate Ltd.

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The Action: This three-storey loft was listed for $2.5-million and $2.2-million last spring and fall. It was examined by about 50 shoppers, but none made offers, so it was benched for the winter. In April, when it reemerged with an asking price of $1.895-million, a buyer’s $2.1-million bid was accepted before the offer date.

“The first time it was listed, [the price] was based on a recent sale in the building that had gone into multiple offers,” agent Robin Pope said.

“[This spring, our loft] sold for $2.1-million, so my clients were ecstatic because it was what they wanted six months ago. It just took us longer to get where we wanted by being patient and using a different strategy to get that price.”

What They Got: In the 1990s, the former Rawlings baseball glove factory was converted into 10 raw living spaces of varying sizes and configurations.

This 2,270-square foot loft started off with wood ceilings and warehouse style windows facing north and south.

Bedrooms and bathrooms were created on all three floors. The middle level also incorporates an open living area with a fireplace, a dining space and a galley-like kitchen with stainless steel and concrete counters.

Surface parking is included. Monthly fees of $1,197 cover water.

The Agent’s Take: “The smallest apartment in this building is 1,200 square feet and …this one happens to be the second largest unit,” said Mr. Pope.

“It felt more like a townhouse or house for two reasons: because you have three levels and exposures in two directions.”

The finishes are also unusual, from the kitchen’s sculptural feature wall to polished concrete underfoot. “People really liked the floors, they were a high gloss epoxy floor,” Mr. Pope said.

“They also liked all the exposed brick and post and beams, and those are not commonly found features, even in lofts.”

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Originally published in the Globe & Mail on

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