Controversial Noble Street Loft Building Hits Market for $9M
After years of tenant complaints about construction and maintenance tactics, the 18-unit hard loft building is now for sale.
The controversial loft building at 34 Noble Street South is officially on the market at $8.8 million, marking the end of a chapter marred by tenant complaints and allegations of aggressive renovation tactics.
Back in 2022, residents accused the building's ownership company, NJS Capital, of subjecting tenants to prolonged, relentless construction noise and neglected maintenance—tactics the residents alleged were designed to push them out. One longtime tenant told CityNews about "sustained and unreasonable durations of loud construction," while complaints about addressing issues became harder to lodge after the building's superintendent was removed. The controversy deepened when a professional recording studio was reportedly installed in a basement unit beneath occupied apartments.
NJS Capital denied attempting to force tenants out, citing obtained permits and the building's commercial-residential zoning. Now that the renovations are largely complete, the market will test whether the controversy matters to investors.
The answer so far: probably not much. Twelve of the 18 units have been fully renovated to a high standard, and recent lease data shows the building is pulling strong rents—one basement unit recently leased for $3,595 per month despite broader softness in Toronto's rental market. That's a sign upper-floor apartments are commanding even more. Hard lofts in Toronto remain rare collectibles: the exposed brick, timber post-and-beam construction, and oversized windows of a century-old industrial space simply can't be faked with modern finishes. Whether you're celebrating or criticizing the building's history, the math is clear—authentic loft character holds value in this market.