Ïce Condos (Lanterra Developments, Cadillac Fairview) - Real Estate -
- Thread starter CGM
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Ramako
Moderator
that's right, it's different this time
Unlike 1 Bloor, this project is being run by a well-established developer with a solid reputation.
Do you have any particular reason to believe that this is all hype?
cdr108
Senior Member
i don't have doubts this building will be built.
CF has money behind it, unless it goes the way of O-Y.
Lanterra isn't the most established developer as far as i'm concerned and their products have been mediocre at best ... look at Murano, with it's high exposure and location, has alot of reports of poor quality and workmanship.
my main point is the 75% sold in a week is very reminiscent of 1BE line-ups and the peak before the bubble bursts, especially at $700 PSF.
tkip
Active Member
Well...
The point is that 75% of the units released sold out in a week at the $700/sq so it's a little pointless to rant that this is somehow not good news. I thought that Lanterra had a good quality reputation?
The point is that 75% of the units released sold out in a week at the $700/sq so it's a little pointless to rant that this is somehow not good news. I thought that Lanterra had a good quality reputation?
DaninToronto
Active Member
A tower selling well is great. A developer not getting financing is another story. The difference here is that Lanterra has a well known name and proven track record. Bazis did not.
Condo George
Active Member
Well said, I never sold One Bloor, I do my analysis and decide whether a site is for my investor pool or not. Not all sites are a sale for my clients, just because their is a door, doesnt mean I go in
that's right, it's different this time
lol my wife had to pick me up off the floor on this one
I remember when Maple Leaf Square launched at $400 psf a few of the buyers that called me said it was too expensive..........
Its not just the campground folks, on VIP day the 10th of Nov, it was a madhouse at low $600 psf, market is speaking, even my most optimistic forecasts where blown out of the water!!! Deals were being written up on any hard surface, the reception area, coffee tables , model suite, on a wall etc etc. procrastinate all some want ....this is great news for the Toronto Condo Market
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maestro
Senior Member
Lanterra is pretty much H&R, no?
dt_toronto_geek
Superstar
If Pinnacle was smart they'd have a hundred sandwich boards leading to their sales office to sell off the remaining suites at Success, and to kick-start sales for Success 2.
ponyboy
Active Member
I can see why they seem in a hurry to sell. It's a great profit potential with people paying those psf prices. How can $600 psf be a good deal when you can likely rent said condo for less without the risk of owning a mortgage on it?
urbandreamer
recession proof
Perhaps, like the stock market, Toronto's PPSF is running towards $1000? When a stock hits $6/0/0, it has a higher chance of running to $10/0/0 than crashing before pulling back.
So let's pretend downtown Toronto runs to $1000 PSF; pull back on a crash would bring it down to $650 level.
So let's pretend downtown Toronto runs to $1000 PSF; pull back on a crash would bring it down to $650 level.
Xenosblitz
Active Member
CF is a wholely owned subsidiary of the Ontario Teachers Pension Plan. Unless the pension plan folds, which is highly unlikely, CF will remain well capitalized.
The CEO of CF said a couple months ago he was really impressed by the sale rate and the psf Ice was commanding. Since he is happy, and the funding is available, I think the profit margins on this is sufficient for it to get built, and financing won't be a major problem like 1 Bloor.
Condo George
Active Member
lochlyn
New Member
$700/sq?
I wonder if $700/sq include parking and storage or not? Also, $700/sq can at least give me a what kind of view? unobstructed? at what floor?
Thanks for providing some context...
I wonder if $700/sq include parking and storage or not? Also, $700/sq can at least give me a what kind of view? unobstructed? at what floor?
Thanks for providing some context...
kondoz
Active Member
I know this was posted a while back but I highly agree with your sentiments.
Many people on this forum really ripped apart the Residences of College Park. Yet their prices soared and continue to be quite high. However I do recognize a lot of people were more focused on the "ugly" design then the layouts.
Regardless, sometimes we dismiss the whole "location" argument. Many people will trade off quality of finishes and size for location.
Ice's location is great for those who want to be in the action. Not for everyone but enough people to substantiate $600/sq ft IMHO.
However I think > $800/sq ft might be pushing it at this point in time.
Finally I "heard", so take it for what it's worth, that Lanterra was predicted prices in this area at $1000 sqft in 5 years. Anyone else heard this??
kondoz
Active Member
Just got an email from my realtor.
A College Park condo on 36th floor with parking just sold for $436k.
It was listed at $399k.
It was 600 sq ft 1 plus den.
A College Park condo on 36th floor with parking just sold for $436k.
It was listed at $399k.
It was 600 sq ft 1 plus den.