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Real Estate

18 Comments

Condomonium: $825,000 for a King East loft with walls that beg for large-scale art

ADDRESS: 261 King Street East, Unit 405

NEIGHBOURHOOD: Moss Park

AGENT: Christopher Bibby, Sutton Group–Associates Realty Inc.

PRICE: $825,000

THE PLACE: A two-bedroom soft loft in the historic King East neighbourhood. The six-storey structure was built in 2001 (which we suppose could also be considered historic, given Toronto’s recent boom of condo upstarts).

BRAGGING RIGHTS: With fewer than 30 units in the boutique building, the south-facing suites with terraces, like this one, tend to go fast.

BIG SELLING POINT: Concrete-clad walls may seem cold, but the light shining through the immense windows keeps the loft looking light and breezy (and highlights the art on the walls).

POSSIBLE DEAL BREAKER: Despite the exposed ducts and soaring windows, this isn’t a warehouse conversion. Those searching for the hard loft stamp of authenticity will have to look elsewhere.

BY THE NUMBERS:
• $825,000
• 1,800 square feet of interior space
• $699.48 in monthly maintenance fees
• 300-square-foot terrace
• 22-foot ceilings in the living space
• 11-foot ceilings in the bedroom and kitchen
• 2 levels
• 2 bedrooms
• 2 bathrooms
• 1 den

  • J*town

    That’s a lot of money to live in what seems like a concrete slab box.

  • Vlad

    If the owner of this loft got sent to prison, he would really miss his bathtub.

  • ##

    not a bad unit, but the price, to me seams out of touch. it doesn’t look like 1800sq/ft – and it is super narrow. You only have one real distinct living area and the finishes look pretty basic. Does that look like a kitchen you would find in an 800K+ condo?

    even the furniture looks pretty ikea basic…

    it is tough to judge without seeing it in person, but I would think this is more like a mid $600s or maybe low, low $700s, but I wouldn’t pay that.

  • opl

    $600K max for this place. The seller must be using the sq. footage as justification for the price.

  • Suzy

    Love the sleigh bed in the master bedroom. I dont think its 1800 Sq ft – cant be. So narrow and a tiny kitchen and the 2nd bedroom is a closet! NOT 1800 sq ft – come on realtor, get your act together!! Overall, I would pay that much for the sunlight coming in if it was 1800 sq ft, otherwise max $650K if we can figure out the correct sq footage.

  • JenC

    No doubt listed because a massive condo is going up next door at the corner of King & Sherbourne. Bye bye sun, views.

  • a comment

    This is a two bedroom unit, so could and will probably have more than one person or couple living in it. If those occupying the master bedroom go to bed early, the other occupants would have to creep quietly about their home in the dark. Poor design. There is a serious health and safety issue with the railing in the master bedroom. A curious child could go over and be injured as could a clumsy adult. All that and so much money to buy. No thanks.

  • Sophie

    Beautiful space! And im sure the pictures dont project half its beauty in person. Really wish i could afford to live in a place like this!

  • Jenna

    The location kills it! This design is very similar to the 2bdrm lofts you will find @ 75 Portland & the price would be around the same ( A friend payed $795,000 last year, kitchen & bathroom, view is MUCH nicer) and it is on King West in a safe neighbourhood. This loft is in CRACKHEAD CENTRAL & no one will buy at this price.. They will be lucky to get $650,000

  • Johnny

    Sophie, you must be the realtor or crazy! Jenna – you obviously dont know Toronto. Crackhead central @ King east ? King West in a ‘safe’ area – overinflated,overhyped and way too busy and dangerous? Do some reading and research and come back. PAYED should be PAID btw.

    I agree that 1800 sq ft seems generous and i think they have it wrong again. Its not that big.

  • Mat

    Actually, I have to agree with Jenna to some degree. This condo is almost identical to the ones at 75 Portland and I know this because I checked the Portland ones out. Either way, this concrete loft look is really starting to become tiresome, these units are just big cold hard boxes. The price point at Portland is around $650/sq ft, whereas this one works out to $460/sq ft if the 1800 sq ft is indeed correct. Either way, the Portland ones are way over-priced and so is this one. These type of lofts are not for everyone, nor do people tend to stay in them for long from what I’ve noticed. Come winter time can you say mad depression! I seriously thought about buying one at 75 Portland. The high ceilings are nice but all that concrete has a way to make you feel really imprisoned.

  • Tom

    Typical toronto life real estate bashing by people who cannot afford to live in anything other than a basement apartment lol

    I live in 601. The square footage is correct, three bedrooms, massive foyer. Pictures dont serve listing justice. Realtor needs better photograper.

  • Suzy

    No, You did not go there, Tom. Massive foyer with bad design,concrete slab and a small tiny kitchen. Come on – picture always tell the truth. Betcha 601 is even worse!
    BTW——-> I dont live in a basement or a little slab in the sky- I live in a townhouse worth 3 X your overinflated slab value.

  • Tom

    Lower level basement townhome suzy? How much do you pay a month?

  • Iggy

    Is this where they filmed the Saw movies? I cannot fathom $800k for this concrete bunker. Even the Deifenbunker sold for $150k… And maybe 1800sqf if they turn it sideways…

  • not to my taste

    To many of us this is over-priced and not terribly functional. I would never trade my Toronto house and garden for this. I do have a basement, great to have but I don’t live in it. Too cold and concrete down there; kind of like this condo.

  • betsey

    This unit is simply okay. $458 p/sqft it’s not bad if you are simply considering the size (the condo fees are good for the size as well) however it needs a top to bottom reno. All the finishes look like they are the original builder finishes and the kitchen set up needs to be completely reworked. It could be a nice unit with a good chunk of money put into it.

    For those hating on the concrete walls, a space with concrete can look warm and inviting it just depends on what other finishes are used in the space (flooring, cabinetry, etc) and how it is decorated. Don’t be so narrow minded just because you personally don’t like a particular feature.

  • Christopher Bibby

    The property sold for $795,000.

 

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