801 king st w and slaughter house

[lowesthangingfruit]

I just bought into above building at a price I thought was below market value. Now figuring out why with the slaughter house nearby (lesson...buyer beware). Anyone know of any other underlying reason why this building seems to sell at a "discount" to it's peers in the area ?? Never lived in area so how big of an issue is this slaughter house deal and how much stigmatization does it put on the building in terms of rental/resale value. Thank you.

 

[BobBob]

I think the price has more to do with the fact this is an 80s condo, than with the slaughterhouse. Condos from this period are generally cheaper, I've found, at least partly due to the percieved lack of "cool", with their low ceilings, awkward solariums and such.

 

[lazarus]

I lived in 801 King W for 5 years and enjoyed the building and area. I think the price may have seemed cheaper because of the age of the building. The slaughterhouse situation isnt that big of a deal. Ocassionally, in the summer, you can smell some stench from the place, but it is really nothing to lower the property value of all the buildings and homes in the area.
They are constructing a new condo on the corner of King West and Tecumseth and I am sure the price of this new place will not be lower due to the fact their is a slaughter house a few blocks away.

 

[lowesthangingfruit]

Funny how some don't think much of it while others consistently describe the "smell of ass" in the summer. I personally think those living in the area (as oppose to visitors or transients) develop a tolerance of some sort as one local puts it he only really notices it when he has been away from the area for more than a week and then returns.

Anyways, in my research, also found out some pending refurbishment of common areas in that building is gonna drain the reserve funds by 1/3 to 1/2 which can only mean one thing. I guess I know now why it sells at a "discount".