Rev Studio
90 Sumach St., No. 304-305, Toronto
Asking price: $4,499,800 (September, 2024)
Previous asking price: $4.5-million (April, 2024)
Selling price: $3.8-million (December, 2024)
Taxes: $11,973 (2023)
Property days on market: 247
Buyer’s agent: Mikayla Rugala, PSR
The action
The designers at Ancerl Studio fused two lofts into one to create more than 3,220 square feet of living space.Rev Studio
Agent Mikayla Rugala scoured the city last year to find her client a space that would meet a very demanding shopping lift: a loft with high-end finishes and more than 3,000 square feet of space. She found three contenders, among them, this three-bedroom loft in a former CBC prop house, which hit all the right notes – except price. The buyer balked at paying the asked-for $4.5-million and negotiations flatlined. But a few weeks later the sellers reinitiated discussions with the buyer to orchestrate a $3.8-million deal.
“Our initial offer was at $3.7-million, and they countered back closer to the list price, so I kept sending long, in-depth e-mails with [sales] statistics, my own research, and explanation for everything,” said Ms. Rugala.
“The risk is always there that we might lose the unit, but I didn’t think it would sell overnight. Even as the deal died, I thought we had the upper hand.”
What they got
The loft has two entrances, three bedrooms, three bathrooms and two south-facing balconies.Rev Studio
The designers at Ancerl Studio fused two lofts into one to create more than 3,220 square feet of living space. It has two entrances, three bedrooms, three bathrooms and two south-facing balconies.
Fourteen-foot ceilings, fluted columns, and polished concrete floors give an industrial aesthetic, along with brick walls and steel sliding doors to enclose areas like the primary bedroom. There is a dressing room and a raised bathroom with a free-standing tub and a three-sided shower stall.
A large kitchen opens onto a dining area and living room with a sleek fireplace. There is also a small den.
The unit includes a storage locker and two parking spots. Monthly fees of $2,340 cover utilities and use of a rooftop terrace.
The agent’s take
There is a dressing room and a raised bathroom with a free-standing tub and a three-sided shower stall.Rev Studio
“It’s a sweet unit,” said Ms. Rugala. “They did a great job with the design.”
“In most hard loft conversions, you’re not getting a balcony, unless it’s an upper penthouse floor with a walkout, but even that is not very common.”