JUST SOLD! – 90 Sumach Street Loft 403 – Trefann Court

2 Days on the market, over 2000 square feet, 2 bedrooms, 2 washrooms, and 2 parking spaces!

90 Sumach Street, once home to the Canadian Broadcasting Corporation as a warehouse and design centre was originally used for their archives, studios, rehearsal spaces and workshops. From the brick exterior to the warehouse style windows to the vintage film light in the front lobby, everything about 90 Sumach pays tribute to its history.

Loft 403 is absolutely stunning! Upon entry you are immediately impressed by expansive open concept space. With 2059 square feet of living space plus a balcony, this loft is one of the largest in the building.

True to the definition of a hard loft, this residence features concrete floors, exposed ducts, fluted concrete columns and 14 foot ceilings.

Loft 403 includes extensive premium upgrades and finishes. The kitchen was completely renovated in 2011 with a beautiful mosaic tiled back splash, new cabinets, marble counters and a new sink and faucet. The appliances are second to none and include a 36” Wolfe Range, a Vent A hood vent, a built-in Sub Zero Refrigerator, and a built-in Miele dishwasher. The plumbing and electrical in the kitchen was upgraded at this time as well.

The kitchen overlooks the open concept dining and living rooms making the entire space perfect for entertaining. The floor to ceiling windows offer south views and an abundance of natural light all day long. There is also a walk out to the large balcony which was installed in 2011.

The master bedroom is absolutely stunning with high ceilings, a large walk-in closet and a spa-like master ensuite.

The second bedroom is perfect for a spare room, a home office or even an art studio. Additional upgrades were done in 2014 which include a ton of built in storage.

Both washrooms were upgraded in 2014 with new faucets and toilets and a new shower was installed in the main bathroom. There is also a convenient laundry closet with a stacked Bosch washer and Bosch dryer.

This loft also includes not one but two parking spaces!

The building offers a newly refurbished amenities room, visitor parking, and a fenced dog run. There is also a spectacular rooftop terrace with barbecues where you can take in the incredible west-facing views of the Toronto skyline. Located just steps from Queen Street East, you can enjoy easy access to the TTC as well as tons of great restaurants, shops and bars in the neighbourhood.

Toronto Real Estate Board ordered to open up online sales data

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The Toronto Real Estate Board must let its member brokers release more home sales data to the public via the internet, the federal Competition Tribunal ordered Friday, in a move that could resonate across Canadian real estate markets.

The tribunal’s order, which follows an April ruling that TREB was stifling competition by restricting access to data on its proprietary Multiple Listing Service, says TREB must let its members offer searchable online databases called “virtual office websites.”

Those databases allow access to important information held in MLS, including data like sales prices, broker commissions, and withdrawn listings, as well as archived data.

“We’ve always taken the position where the more information that consumers have, the better decisions they can make,” said John Pasalis, president of the Toronto real estate brokerage Realosophy and a witness in favour of opening up the data.

“We’re going to look at making it more widely available on our website now,” said Pasalis.

Some Toronto-area real estate agents are champing at the bit to take advantage of the Competition Tribunal’s order as quickly as possible. Ara Mamourian, owner of Spring Realty, wrote in his blog that releasing the previously restricted information via his company’s search tool will save time and hassle for brokers and buyers alike.

Even brokers outside of Toronto have their eye on the Competition Tribunal’s order, and expect it to impact their local markets.

“Most likely because TREB is the biggest board, I think it’s going to trickle down right to the smallest board out there,” said Mayur Arora, a realtor with Oneflatfee.ca and a member of the Greater Vancouver Real Estate Board.

Limits on home sales data

Still, the Competition Tribunal’s ruling does set some limits on exactly which MLS data can be released online.

Consumers who want to access the data will have to have a password-protected account with the broker providing it, and individual home sellers can request that TREB exclude their home sale information from the online databases. TREB can also keep certain private information about a home seller confidential, including mortgage and security information.

The Tribunal also said “TREB may limit members’ use to being directly related to the business of providing residential real estate brokerage services.”

The order represents a victory for the federal Competition Bureau. In its original application to get the data released, the bureau said the data will allow real estate agents “to offer consumers the convenience of data-driven insights into home sales prices and trends via the web and to improve the efficiency and quality of their services.”

TREB has 60 days from June 3 to implement the changes, and was also ordered to pay the Competition Commissioner’s legal costs of more than $1.8 million. In a statement, TREB CEO John DiMichele said TREB has filed a notice of appeal, but is reviewing the order with its lawyers before commenting publicly.

An ongoing legal saga

The tribunal’s ruling is the latest development in a case that goes back years. In 2011, the Competition Bureau sued TREB, Canada’s largest real estate board, for restricting the ways in which its member agents could release data from the Multiple Listing System.

The Competition Bureau said TREB’s practices were anti-competitive, and kept customers from accessing information that would help them buy a house. At the time, TREB said it was “legally and morally required to respect” the private information involved in real estate sales. The Competition Tribunal dismissed that case, but hearings began again in 2015 following a successful appeal by the Competition Bureau.
SOURCE: CBC NEWS

STAGED & SOLD IN 2 DAYS! 36 Lisgar Street #1817 – Little Portugal

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Superbly Designed Urban Residence Located In The Vibrant West Queen West Neighbourhood! Split Bedroom Floor Plan With Gorgeous Contemporary Kitchen Incl Granite Counters And Stainless Appliances. Open Concept Dining And Living Rooms With Walk Out To Large West Facing Balcony. Engineered Laminate Wood Flooring Throughout, Floor To Ceiling Windows, 2 Full Washrooms, Ensuite Laundry, Parking And A Locker! Fantastic Shopping, Dining And Tons Of Great Nightlife! For more info, please visit www.LiveOnTheEdge.ca

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