This custom 2,627-square-foot unit with a 600-square-foot terrace off the second-floor den is in a converted Sears warehouse near Ryerson University
The interior details range from exposed ductwork, multipaned windows and a custom steel staircase to classic Brazilian walnut hardwood floors.In September, this two-storey penthouse made its market debut at $2.3-million, but in the following months, the price was twice reduced and the property relisted. Those moves sparked the interest of buyers with bigger budgets than the average shopper looking for units in the Merchandise Building, which contains mostly smaller condos. A deal for $1.
“Above the $2-million price point, [properties] tend to sit for a little longer,” agent Fuji Duong said. “When we took the listing, we told the seller this would take three to six months … because the buyer pool is so small and we were coming up to November and December when things are slower.”The unit is in a former Sears warehouse near the downtown Toronto campus of Ryerson University.Just east of Ryerson University, a former Sears warehouse was converted into lofts, such as this custom 2,627-square-foot unit with a 600-square-foot terrace off the second-floor den.
The unit also comes with a built-in sound system and two-car parking. Monthly fees of $1,750 cover heating and water costs, along with concierge, gym, pool and party room.“This was Crestford’s first developments in the area, so they were more flexible in terms of their build options and let people buy two units and combine them. Like, upstairs and downstairs units were combined [to create this loft],” Mr. Duong said.
“[Plus] the outdoor space was great because it was a bigger space, and it wasn’t super high and super windy.”to help you stay on top of news on the housing market, mortgages, the latest closings and more. Sign up today.
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