PSR Brokerage
300 Manitoba St. S., No. 309, Toronto
Asking price: $799,000 (Mid May, 2024)
Previous asking price: $850,000 (Early May, 2024)
Selling price: $790,000 (June, 2024)
Previous selling prices: $746,000 (January, 2021); $645,000 (November, 2017); $467,000 (September, 2016); $385,000 (January, 2014); $305,000 (June, 2009); $286,000 (June, 2008); $268,000 (March, 2007); $255,000 (May, 2004); $227,000 (January, 2002); $178,972 (November, 1998)
Taxes: $2,650 (2023)
Property days on market: 34
Listing agent: Mikayla Rugala, PSR Bokerage
The action
This corner unit has 17-foot ceilings, windows facing east and south, and a fireplace in the living room.PSR Brokerage
This unit in a loft conversion project off the Gardiner Expressway near Mimico Creek, has two bedrooms and a den. Posted with an asking price of $899,888 in October, 2023, by April it had been gradually reduced to $849,000. With still no buyers in sight, a new agent was brought on who immediately ordered a makeover.
“A lot of features, finishes, and palettes didn’t complement one another,” said agent Mikayla Rugala.
“We changed the [kitchen] backsplash to white to open and brighten up the space, and we installed modern chandeliers and lights to give it an updated feel.”
Still, offers were slow to surface, and in the meantime a comparable unit sold around $760,000. That prompted a price change from $850,000 to $799,000. Ultimately, it was another resident in the building who made a compelling offer of $790,000.
“After a week and a half of little traction, I told [the seller]: It’s time to list at my initial price point of $799,000,” said Ms. Rugala.
“Once we did that, we got over 10 showings and two offers.
“We’re back to a more regulated market,” Ms. Rugala said. “Things aren’t selling in one week.”
What they got
The building was a former warehouse for L.J. McGuinness Distillers that was converted into two-storey lofts.PSR Brokerage
In the late 1990s, this former warehouse for L.J. McGuinness Distillers was converted into two-storey lofts. This corner unit has 17-foot ceilings, windows facing east and south, and a fireplace in the living room.
The same views are visible from the kitchen, bedrooms on each level, and a den at the top of the stairs.
The unit includes two bathrooms, as well as two storage lockers and two parking spots. Monthly fees of $1,196 cover water, concierge and amenities, like a squash court and rooftop garden.
The agent’s take
“[These lofts] stand out more than any other loft building with two-storey style units in the Mimico area,” said Ms. Rugala.
“Those layouts don’t offer the floor-to-ceiling windows because their mezzanine cuts it in half essentially.”