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King West condo sets record price for the building

800 KING ST. W., No. 812, TORONTO

ASKING PRICE $489,000

SELLING PRICE $551,506

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PREVIOUS SELLING PRICES $354,000 (2011); $238,000 (2005); $144,429 (2000)

TAXES $2,525 (2016)

DAYS ON THE MARKET Two

LISTING AGENTS Cameron Weir, Scott Hanton and Nela Gojevic, Keller Williams Advantage Realty

The Action: The last one-bedroom-plus-den suite sold at the Kings Lofts net just over $473,000 last November, but a few months later in 2017, this nearly identical penthouse fetched $551,506. Although an offer was made on Day 1, the sellers allowed for about 100 showings and accumulated 18 offers by the second day.

"It was definitely a unique sale because it did set a record price for the building," agent Nela Gojevic says. "There's a really big demand for quality loft-style suites in this area and there are few and far between."

What They Got: A 17-year-old building was designed solely with two-storey suites, such as this 682-square-foot penthouse with a dramatic entertaining area with exposed concrete ceilings 17-feet high, a south-facing balcony, a gas fireplace and a custom built-in bookcase with rolling stairs.

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Overlooking the principal room is a den and bedroom upstairs.

Practical conveniences include two bathrooms, kitchen and laundry facilities, a locker and parking, as well as monthly fees of $636 to cover utilities, gym and party room.

The Agent's Take: "It's quite typical of what you'd find in the building, but probably not typical of what you'd find on the market since it's two storeys," Ms. Gojevic notes. "The big appeal is that it's a boutique, low-rise building and it has the right elements of a hard loft and ceilings combined that it makes it feel loft-worthy."

Video: Done Deals: This unit with expansive views of Lake Ontario sold for more than $80,00 over asking
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