Condo sales picking up at converted whisky barrel warehouse (con't)

“It was slow to pick up because the prices were high so we reduced the price,” said the realtor, who fully took over marketing the 69 two-storey lofts about four years ago.

Club Lofts first came on the market when the recession was still in full flight, which originally hampered sales.

Mancina said another drag on sales was the sheer size of units, upwards of 3000 sq. ft.

Previously the owners – the principals being Spyridon Govas, president of A & G Metro Roofing, and Ric Albano, along with several silent partners – were largely selling the property themselves.

Then 4V Group Realty took over.

And now, with the area's real estate market heating up, there are more interested buyers and the pace of sales has picked up.

The building’s construction is somewhat fascinating.

It saw the conversion of the massively solid concrete warehouse, which can support 350 lbs. per square foot; most high rises are rated at 60 lbs.

“The building is the most structurally sound and safest residential building in the city, and arguably in Southwestern Ontario,” Club Lofts website touts.

Mancina said 76 per cent of the units have been sold, leaving between 16 and 18 units – there are two offers – for sale.

Suites range from 1600 to 2800 sq. ft. with spectacular ceiling heights as high as 17 ft., lending naturally to the loft design, and eight feet ceilings under the lofts.

The units are one and two bedrooms.

Parking is underground or in front of the Wyandotte St. E. address.

Prices range from $255,000 to $499,000.

Mancina said some suites are finished and others unfinished without interior decorations, vanities, etc., which have become more attractive to recent buyers.

“It would appear they were buying finished when we opened up because we had the first and second floors completely done,” Mancina said.

“Right now most of the people are buying unfinished.”

Mancina said there are a few people from as far away as Toronto purchasing but most buyers are local and range from young professionals to empty nesters.

It seems buyers want to be part of the bustling Walkerville scene with easy walks to restaurants, cafes and boutiques, as well as the leafy high end residential neighbourhood immediately south encompassing venerable Willistead Park.

“Absolutely, I would say 30-40 per cent of the people, they are buying in that building because they want to move into Walkerville,” Mancina said. 

Club Lofts – with unit names harking back to the Hiram Walker era such as White Oak, Barrel Blend and Sherry Cask – also feature a rooftop garden and a glass-walled party room.

Each residential unit has mammoth two-storey picture windows.

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