Soaring wood-beam ceilings, crazy-low fees: The listing agent breaks it down.
Address: 43 Hanna Ave., Unit 220
Asking price: $599,900 (It sold for asking)
Maintenance fees: $0.34 per square foot
Space: 1,022 square feet
Bedrooms: One, plus den
Days on the market: Two (Only two? “When hard lofts go on the market, it’s a bloody feeding frenzy,” says the selling agent, Andrew Harrild of MrLoft.ca.)
Liberty Village takes its personality from the handsome old warehouses that first gave life to this former industrial area. In the past two decades, the neighbourhood has been colonized by artists and, later, media companies. It now has most essential urban conveniences, including an LCBO, a 24-hour Metro, and a Goodlife. It’s close to downtown, and far enough west on the King streetcar line that you can usually squeeze onto the 504 during morning rush hour—and maybe even get a coveted seat.
This former toy factory was transformed into (what else?) the Toy Factory Lofts in 2008. There are 214 units, some new, and others the area’s only refurbished hard lofts. Part of the building was originally left untouched; now, it’s being converted into fancy $2-million hard lofts ready for move-in later this year. Maintenance fees are super low: Though there are a concierge, a gym, and a rooftop patio with barbecues and a hot tub, the fees are just 34 cents a square foot, well below the city average. “It’s a huge savings,” says Harrild. “On a unit this size, you’d expect to pay $500 to $600 in fees. It also serves a buyer well come resale, since fees typically only go in one direction.” Another bonus: On cold mornings, the building’s inhabitants can get to Balzac’s Coffee without going outside.
Authentic loft features include 12-foot wood-beam ceilings, exposed-brick walls, and refinished original hardwood floors. There are also custom built-in cabinets in the bedroom and den, a tiled backsplash in the kitchen, and a large washroom, which Harrild says could be reconfigured into a smaller full washroom with an adjoining powder room. “It has a western exposure, facing the courtyard,” he says. “So it’s bright, and also quiet and private.” Underground parking and a locker are included.