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These Toronto Hard Lofts Had the Highest Price Growth in 2017

These Toronto Hard Lofts Had the Highest Price Growth in 2017

While we typically focus on the Toronto condo market, we're excited to be celebrating lofts in Toronto, which have always held a special place in our heart. Our associated website, MrLoft.ca , has just launched a brand new version, proving its the best place to browse cool loft listings and search for lofts for sale in Toronto. The team at MrLoft.ca are experts on lofts just like we are experts on condos.

What is a loft?

Well, according to Google, a loft is a woman’s clothing retailer. But . . .

In a real estate sense, a loft is best described as a large, open, bright living space, usually with extra high ceilings and few interior dividing walls. There are two main types of lofts that we deal with: hard lofts and soft lofts.

Hard loft:

A hard loft is your classic loft apartment, often designed within an older, repurposed, renovated commercial or industrial building like a factory or warehouse. Also known as conversion lofts, these spaces tend to have original, exposed infrastructure like brickwork and wood beams, and a unique historical charm.

Soft loft:

A soft loft is a newer apartment that is designed to give residents that “loft” feeling of openness, space, and brightness, but without the old, renovated building part. You’ll still tend to see exposed infrastructure in soft lofts, but it tends to be modern concrete ceilings, support pillars, and exposed ductwork.

Hard Lofts with the highest price growth in 2017

Soft lofts are often found mixed in among regular condo units in many modern buildings. Because we deal with condos on the regular, we thought we’d make this blog post about hard lofts in Toronto, since we don’t get to see them as much.

Looking back at how Toronto hard lofts performed in the wild year of 2017, we compiled data on yearly price growth for all hard loft buildings in the city. These are the top 5 hard loft buildings with the highest yearly price increases.

#1 Garment Factory Lofts

2017 price growth: 40.21%

Garment Factory Lofts, 233 Carlaw Ave, Toronto

Garment Factory Lofts, 233 Carlaw Ave, Toronto

The Garment Factory Lofts on Carlaw Avenue in South Riverdale is 8 storeys with 150 total units.

Notable amenities include a gym, party room, parking garage with visitor parking, and a concierge.

For the last several years, average PSF at the Garment Factory Lofts has hovered around $600/sqft. In 2017, there was a dramatic new standard set for the building with average PSF rising to $872 based on sold price data from thirteen sales. That increase represents a 40.2% spike since 2016.

Maintenance fees at the Garment Factory Lofts are steady around $0.54/sqft, which is below the 2017 average for Toronto condos.

#2 Broadview Lofts

2017 price growth: 31.32%

Broadview Lofts, 68 Broadview, Toronto

Broadview Lofts, 68 Broadview, Toronto

The Broadview Lofts are located on Broadview Avenue just south of Queen Street. The building was registered in 2007 at six-storeys with 154 total units.

Notable Amenities include concierge, common rooftop deck, parking garage, party room.

Average PSF for Broadview Lofts has been in the $500/sqft range since 2012. Prices dipped minorly in 2015 and then began to rise quickly to $853/sqft in 2017, based on data from 10 recent sales.

Average Maintenance fees at Broadview Lofts are well below the average for Toronto in 2017. One reason for the low maintenance fees could be the lack of a gym, which is an amenity that can often drive up maintenance costs.

#3 Robert Watson Lofts

2017 price growth: 29.92%

Robert Watson Lofts, 369 Sorauren Ave, Toronto

Robert Watson Lofts, 369 Sorauren Ave, Toronto

The Robert Watson Lofts are located on Sorauren Avenue just east of Toronto’s charming Roncesvalles Avenue neighbourhood. The previous candy-manufacturing plant is 6-storeys with 153 total units.

Notable amenities include a gym, party room, parking garage with visitor parking, and a common rooftop deck.

The Robert Watson Lofts is the 2 highest PSF out of 84 condo buildings in the West End. The building's average PSF has fluctuated in the $700/sqft range since 2015, and then shot up drastically in 2017 to $936. Most recent sales in the building put the average PSF at $1,111 for 2018, but that may not hold for the year. Our Spring 2018 Toronto Condo Market Update showed that on average the West End was less expensive than the East End on a PSF basis. In that context, Robert Watson Lofts has a unique premium that likely comes from the quality of its conversion and authentic appeal.

Maintenance fees at the Robert Watson Lofts are around $0.62/sqft, which is close to the market average for 2017.

#4 The Printing Factory

2017 price growth: 26.42%

Printing Factory Lofts, Carlaw Avenue, Toronto

Printing Factory Lofts, Carlaw Avenue, Toronto

The Printing Factory is located on Carlaw Avenue just north of Queen Street. Slightly larger than the previous hard lofts we’ve showcased in this ranking, The Printing Factory is eight-storeys with 256 total units.

Notable amenities include a concierge, party room, parking garage with visitor parking.

The average PSF at The Printing Factory was settled around $550 from 2011 to 2015, then jumped into the $600/sqft range. In 2017, average PSF rose to $770/sqft based on 18 sales. While the building itself experienced above-average value growth in 2017, the Printing Factory remains just below average value for the South Riverdale neighbourhood.

Average maintenance fees are steady around $0.52/sqft. Without a gym or a large common area, maintenance fees can remain quite low.

#5 Toy Factory Lofts

2017 price growth: 23.93%

Toy Factory Lofts, 43 Hanna Ave, Toronto

Toy Factory Lofts, 43 Hanna Ave, Toronto

The Toy Factory Lofts is one of our favourite loft buildings in Toronto. While it may have experienced the lowest value growth of these top 5, all of these lofts experienced huge value growth for a single year.

Located on Hannah Avenue in Liberty Village, the Toy Factory Lofts is eight storeys with 213 units total.

Notable amenities include gym, party room, guest suites, common rooftop deck, concierge, parking garage, sauna, and business centre.

The average PSF has been on a steady increase from $546/sqft in 2013, but it leapt to $845 in 2017, based on data from 18 sales.

The maintenance fees at Toy Factory Lofts are some of the lowest in the city, and particularly noteworthy for a building of this caliber. Sitting around $0.40/sqft, while supporting a host of desirable amenities, the Toy Factory Lofts maintenance fees are a prime example of a building with a well-managed reserve fund.