Asking price: $849,000
Sold for: $844,000
Taxes: $3,781.34 (2015)
Maintenance fee: $1,359.66
Unit size: 1,400 to 1,599 sq. ft.
Listing agents: Don McHardy and Susan Froese-McHardy, salespersons, Royal LePage Real Estate Services Ltd., Brokerage
There is no shortage of supply for new condominiums in Toronto. Everywhere you look a new glass tower is going up somewhere on the horizon.
But if you’re searching for an older condo, you’ve got to look harder. There are fewer of them and they get snapped up quite quickly.
Carolyn Love, owner of unit 1701 in 260 Heath St. W., appreciates the fact that they are a hot commodity. In fact, before she secured her ownership of unit 1701, she lost a bid on another suite in the same building.
“I was disappointed but not long afterwards my agent got a call,” she said.
The back story
Her disappointment quickly faded when she saw 1701 for the first time.
“It was perfect; in fact, it was even better because it was on the 17th floor and had better views.”
Plus it was a little bigger. Sitting at nearly 1,600 square feet, this condo enjoys many features most don’t. You walk into a long hallway that doubles as a foyer. Then there is a spacious, separate kitchen off to the left.
The end of the hallway opens up to a grand room that can split into a dining area and a living room. Off to the southern end of the unit are three bedrooms, each with ample storage, as well as two three-piece bathrooms.
The unit comes with an eastern balcony that runs the length of the living room-dining room space.
The allure of the older condos was multifaceted for Ms. Love. The size definitely had something to do with it.
“You don’t get this kind of square footage at this price in the newer buildings any more,” said agent Susan Froese-McHardy.
Ms. Froese-McHardy added that the value of the space goes beyond the price of the unit, though. It adds to the living experience.
“I love the fact that this feels like a home,” she said, pointing to features such as the foyer and the detached kitchen as elements not typically seen in condos but are musts for traditional houses.
Built about 30 years ago, the building was designed by architect Jack Diamond, Ms. Love said. And unlike the masses of new builds, this one has a distinct architectural feel to both the outside and the inside.
The outside of 260 Heath is classic red brick, with rounded balconies along its edges giving the structure a scalloped look from the street. While the outside has playful echoes of the 1960s with its curves, the inside has a much more traditional feel.
It has a crisp white design that stand in contrast to the dark parquet floors and detailed moulding throughout. This is another, albeit subtle, nod to the quality of the construction.
“It’s a nice detail that you see in an older home,” Ms. Love said. “It adds character.”
But perhaps most famously, older condo units, like those in 260 Heath, were constructed with thick, sound-blocking walls.
“I can’t hear anything anywhere in this unit,” Mr. Froese-McHardy said.
Lastly, there was one particularly attractive aspect of the older building that Ms. Love valued: its reserve fund.
“I wanted to make sure there was an established reserve fund,” she said explaining why she ultimately went with an old build over a newer condo. “It is a very well-run building … there’s an accountant on the board, someone with an insurance background and someone else with engineering experience.”
Favourite features
Both Ms. Love and Ms. Froese-McHardy list the kitchen as one of their favourite rooms.
“It’s a nice big kitchen, it’s great for cooking and entertaining,” Ms. Love said.
She says she has hosted parties of up to 30 people and sit-down dinner parties for eight to 10 guests.
One of the key features that lends itself to entertaining is a pass-through “window” that connects the kitchen to the dining room. It’s not just good for passing food to the table; it’s also key in helping keep the host included in the conversation while she cooks.
Plus, when the cooking is done, there is little need to worry about the mess immediately.
“It’s set off from the dining room so people can still entertain and keep their mess in there,” Ms. Froese-McHardy said. “Nowadays most condos are open concept and you just can’t hide anything in that.”
The other feature that both women love is the master suite walk-in closet, which is actually more of a walk-through closet as it connects the bedroom to the master bathroom.
“I love how large and bright the walk-in is before the ensuite bathroom,” Ms. Froese-McHardy said. “That closet is very Sex and the City,” joked Ms. Love, referring to the famous fictional closet of Carrie Bradshaw, played by Sarah Jessica Parker in the HBO show.
But Ms. Love says there is one spot in her home that trumps the rest, and it’s the living room with its eastern exposure.
“I love sitting there on a Sunday morning with my cup of coffee, reading the paper and enjoying the sun,” she said.
From this vantage point, she is also able to appreciate the classic unit as a whole.
“It’s a practical but also sophisticated home,” she said.