Links to More Newmarket Condos:
4. 10 Ashton Rd (Ashton Place)
5. 155 Main St North (Heritage North)
Condo Summary - 543 Timothy Loft (Historic Loft)
Architectural and Historical Context
Housed the woodworking division of the Office Specialty Manufacturing Company, once the largest producer of wood and steel office furniture and equipment in Canada.
Updated: January 20, 2024
Address: 543 Timothy Street Newmarket ON L3Y 1R1
Building Name: Historic Loft (designated as a Heritage site)
Updated: January 20, 2024
Address: 543 Timothy Street Newmarket ON L3Y 1R1
Building Name: Historic Loft (designated as a Heritage site)
Neighbourhood: Central Newmarket
Condo Corp: YRCC1047
Build date: 1905; Converted: 2005
Builder: MG Lewis Ltd.
Date Registered: Nov 14, 2005
Units: 56
Storeys: 3
Property Mgt: Wilson Blanchard, 416-642-2807
Fees: All utilities included (except phone. cable, internet) - rare to have Hydro included.
Pets: Pets are allowed but have rules. Restricted as to number and weight and cannot disturb other owners by barking.
Health Amenities: Exercise
Social Amenities: Party, Theatre, Rooftop Terrace with BBQs and Table/Umbrellas
Security Amenities: Phone Entry
Other Amenities: Visitor Parking, Landscaped, Nearby Historic Main Street & Fairy Lake, Tom Taylor Trail, Riverwalk Commons with wading pool/ice rink..
Heating: Radiant Floor (a rare feature) Note: hydro is included in condo fees - very rare.
Cooling: Ductless units
Balcony: No
Ensuite Laundry: Yes
MLS Rentals: 2 - 2018: 1B $,1700 - 1,850 + cable TV, phone, internet (all main utilities included)
Fees/SF (2021): $0.83/SF (limited data)
Med Fees Trend: insufficient data
Fees Include Hydro (value $80-$100/month) Underground and/or Surface parking and locker, heat, water, sewage and common expenses, and building insurance.
Fees Exclude Personal utilities (landline/cell phone, internet, cable TV) and unit insurance with locker coverage.
Note: Many units (1 & 2 bed) have both underground and surface parking.
Typical 2-Bed 2-Wash - 1,054 SF
Kitchen - open-concept
Primary Bed - 158 SF
COST OF LIVING
Home Costs per Month
Fees: $875 ($0.83/SF)
Hydro: Included in condo fees
Taxes: $265
Insure: $30
TOTAL: $1,170 + Mortgage + Phone, Internet, Cable TV and any rentals
Monthly Shelter Cost/Square Foot: $1.11/SF/Mth
Caution: Buyers must always verify the relevant info above using expert advice from their lawyers and realtors.
i.e.; Declaration, By-laws, Rules, Budget, and Condo and Unit Status Certificate.
Pros and Cons - 543 Timothy Street
Pros
- Trendy & Chic - 15 ft ceilings, Douglas fir beamed and exposed, stressed brick
- Great location - close to historic Main Street and Fairy Lake/Riverwalk Commons
- Beautiful historic architecture.
- Only 3 floors - 56 units (22 on the 2nd & 3rd floors and 12 on the lower level with amenities.
- Most 2-bed units come with one underground and one surface parking.
- Most 1-bed units come with the surface only.
- Note: There are no 3-bed units
- Huge windows
- Radiant floor heating.
- Rooftop terrace with BBQs and tables with umbrella - lovely view.
- Very few units are rented out each year via MLS, e.g.; 1 per 2 years. Estimate 3-4 privately rented/yr
Cons
- All-inclusive condo fees at $0.83 per SF (Hydro is included)
- Hydro is worth about $0.10/SF in saved condo fees and is usually not included in condo fees in condos
- Even after deducting the hydro from the fees, the fees are among the highest in Newmarket.
- Go Train tracks nearby on the west side but this side has the best views.
- Open concept - very.
- Interior walls (8-ft) do NOT extend to ceiling (15-ft) (privacy/noise)
- Floors/Ceilings wood vs. concrete (interior noise higher level than standard condo)
- Noise can occur from the floor above and adjacent units. Not a big issue as owners respect their neighbours.
Premium Features (for select suites) - See Report
- West exposure (better views).
- Corners
- Top (3rd) floor (view and no floor above noise)
