Madison Avenue Lofts
The conversion of a former Toronto Hydro building on MacPherson Avenue between Madison and Huron was completed in early 2009. The building's location offers an interesting blend of rough and gentle views. To the south lie railroad tracks, to the east a block of transformers and electric wires. Yet, from the upper floors with the south exposure one can see the trees of the Annex, and to the north the gardens of Casa Loma and the castle on the hill.
Although sitting on a quiet street and away from the traffic, the building is only a short walk to Spadina subway stop.
The most attractive feature of these lofts are high ceilings. Living areas have ceilings as high as 14 feet. All the flooring finishes are laminate, carpet and marble tile, giving the interiors a softer character. Windows reach from floor up to 12 feet, and the doors are 8-feet high.
Sales in Madison Avenue Lofts
Thirty two loft units have been sold so far in the building. One of these was sold early in 2009, before the condo was registered. A two bedroom, two bath loft on the fourth floor was listed originally with an asking price of $469,000, reduced to $419,000, and sold for $400,000.
The remaining thirty one were sold after the building was registered in October 2009. Five bachelor units were sold, with prices ranging from for $250,000 for a third floor east-facing 570 sq.ft. loft with no parking to $270,000 for a second floor east-facing unit with an owned parking spot; Five one-bedroom lofts sold from $285,150 for a third floor east facing unit with parking to $350,000 for a ground level north-west facing 755 sq.ft. space; twelve 'one plus den' units sold between $358,000 and $419,800, with an average of $377,467; ten two-bedroom lofts sold between $400,000 (that was the unit sold before registration) and $523,000 for a south-facing fifth floor loft with a terrace, at an average of $443,150.
Only two units sold above $500,000. One was located on the second floor with a south view, and was fairly spacious (1155 sq.ft.). The other was a fifth floor loft, also looking south but a bit smaller with just over 1000 sq.ft.
A number of larger units are now available for sale, eight of these have two bedrooms and a den, five come with two full bathrooms and a powder room. Listing prices for these large lofts range from $529,000 for a west-facing 1075 sq.ft. third floor unit to $920,000 for a two-level west-facing 1500 sq.ft. penthouse with two large terraces.
Statistics on loft sales in Madison Avenue Lofts:
Please contact us if you are interested in this building.