Controversial Toronto loft building with 18 units just went up for sale at $9M

The controversial Toronto loft building at 34 Noble St. — the same one where tenants previously accused ownership of using relentless construction noise and maintenance issues to push residents out — is now up for sale.

Back in 2022, tenants spoke to CityNews alleging that the building's ownership company, NJS Capital, subjected residents to prolonged renovations, neglected maintenance issues, and tactics aimed at encouraging tenant turnover.

One longtime tenant alleged residents endured "sustained and unreasonable durations of loud construction" after renovations began and claimed complaints became harder to address after the building superintendent was removed.

The living room in one of the units. 

Another major source of frustration came after a professional recording studio was reportedly installed in a basement unit beneath occupied apartments.

At the time, NJS Capital denied attempting to push tenants out, stating that permits had been obtained for the renovations and noting the building was zoned commercial-residential.

Now the renovations are largely complete, and the building has hit the market with an asking price of $8,800,000.

And despite the backlash, the listing makes one thing very clear: authentic hard lofts are still wildly profitable in Toronto.

Originally a former industrial building, the property contains 18 rental units with all the aesthetic buzzwords Toronto renters lose their minds over. 

According to the listing, 12 of the 18 suites have already been fully renovated "to a high standard," while another two units have been partially upgraded.

The entrance of one of the units. 

And, apparently, those renovations are paying off.

The most recently leased unit reportedly rented for $3,595 per month in 2025 despite broader softness in Toronto's rental market.

And that was just one of the basement units, meaning upper-floor apartments are likely pulling in even more — which helps explain why investors continue treating authentic loft buildings like rare collectible assets.

Honestly, hard lofts in Toronto have basically become the real estate equivalent of vintage denim: limited supply, impossible to properly recreate, and increasingly expensive every year.

The listing itself heavily emphasizes the building's authenticity, describing its "exposed brick, timber post-and-beam construction, and oversized windows" as a major long-term advantage over newer developments.

The main stairwell. 

And, generally speaking, they're not wrong. 

Hard lofts in Toronto are exceptional at holding and increasing their value, often outperforming traditional condos due to scarcity, unique character, and high demand in the resale market. 

In other words, no amount of grey laminate flooring and Edison bulbs can fake 100-year-old industrial character.

Which is why, controversy aside, 34 Noble St. is still worth millions.