khris
Senior Member
Bah... no strikeout bb code on this forum! Unless the code is different.
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ganjavih
Senior Member
I'm a bit surprised by the hype too. Although having a piece of property in a supertall handsome looking building right at the intersection of the city's two major subway lines does seem very attractive.
3Dementia
Senior Member
JayMcKay: check out this report from CTV and the "single fin" render they've used! This is not a joke... I provided a link to the story.
Hilarious........ I guess they grabbed your pic off this site!
^ JayMcKay's renders^
CTV STORY:
http://toronto.ctv.ca/servlet/an/local/CTVNews/20071113/Condo_mania_071113/20071113?hub=TorontoHome
CTV RENDER:
Hilarious........ I guess they grabbed your pic off this site!
^ JayMcKay's renders^
CTV STORY:
http://toronto.ctv.ca/servlet/an/local/CTVNews/20071113/Condo_mania_071113/20071113?hub=TorontoHome
CTV RENDER:
Hypnotoad
Senior Member
That is too bad that you didn't a chance to get the unit in the building you wanted. However, I never feel bad for brokers.
spaced
Active Member
You've got to be kidding me. HAHAHAHA!! OMFG. That is way too weird. It looks like some bonehead at CTV is way to lazy with Google image search.
Thanks 3D.
Artist rendering indeed.
3Dementia
Senior Member
^ too bad. It does look better.
yyzer
Senior Member
Condo chaos strikes
Prices, tempers on rise as units go on sale
Peter Kuitenbrouwer
National Post
Wednesday, November 14, 2007
The climax came at 11 a.m. As security guards and police in yellow jackets struggled to contain a seething, frenzied herd of real estate agents on Bloor Street, a worker leaned an aluminum ladder and climbed to the billboard above the street. Underneath the words, "The Best Corner in the World," he began peeling off a sign that read, "from $300,000 to $2-million," to reveal the new price: "from $500,000s to over $8-million."
If there was doubt before, yesterday's events confirmed this: people are speculating in the Toronto real estate market.
On the street yesterday, a riot almost broke out, provoked by two agents who, at 6 a.m., cut in front of more than 100 people who had camped out here for more than a week, for the chance to buy into an 80-storey condo tower that Bazis International wants to put at 1 Bloor St. E., corner of Yonge Street.
"I'm an agent," said Nadine Robbins. "These people who have been waiting in line are students and homeless people. The cop said to us, 'You're agents, you get to the front of the line.' "
Others shouted, "You should be in the back in the first place!"
As the crowd surged, Adam Szalai and two other "place-holders" commandeered a nearby Purolator office for an emergency meeting with a police sergeant and security guards working for the developer.
Mr. Szalai's group had for a week maintained a list of those waiting in line.
Mr. Szalai recounted later: "The sergeant said, 'Look, the builder is not going to respect your list. But I'll back you up because I think it's the best system.' "
Once the deal was done, Hersh Litvack of Re/Max (for whom Mr. Szalai was working) and Anna Cass of Royal LePage stood in front of the television cameras, to take credit for the victory of order over chaos. Mr. Hersh brought a box of Hershey chocolate bars, printed with his smiling face on the wrapper, and handed them out to the staff inside the sales centre.
At noon the developer opened the door and, as the crowd of agents in pinstripe suits and leopard-fur scarves surged around her, Monica Geiman, a sprite of a placeholder, called out names from the list, allowing agents into the sales centre. The two queue-jumpers slunk back into their spots.
A few minutes later, Ajay Jain, an agent with Century 21, emerged with a price list. He was impressed.
"The prices have gone up significantly," he said. "The largest unit has gone up by $1-million and the smallest has gone up by $60,000."
A fellow agent, referring to those who bought units before yesterday, said, "All the friends and family just doubled their money."
The sheet lists the "Dream 1805," (1,425 square feet in two bedrooms plus library, plus a balcony and a 'Lanai' (a kind of sun room) at $2,149,000.
I asked Mr. Jain why so many people want to live at Yonge and Bloor.
"They don' t," he said. "They want to buy to invest, because they think somebody else will pay them a lot more for this condo once it's built."
The sales sheet said occupancy in the tower is on Nov. 28, 2011. Mr. Jain noted that most end users don't have a 20% deposit -- a minimum $100,000 -- to tie up for four years, but investors do.
"On the board they're saying half a mil. So if you get it at this price [$415,900, the lowest price on the sheet] you're going to make a lot of money."
Mr. Jain called back last night in a rage to say that only the first 35 agents in a line of 100 agents were able to purchase a unit yesterday.
Yesterday, after the crowds melted away, Mr. Szalai stood on Bloor Street, surrounded by television camera trucks and flatbed trucks of Robert B. Somerville, who, just to add to the drama, are digging up Bloor Street to put in electricity conduits.
Two young women, Joey Tsang and Jessica Lam, both agents with Tradeworld, came up and enveloped Mr. Szalai in a bear hug.
"We were so scared, you guys rescued us," Ms. Tsang said.
Prices, tempers on rise as units go on sale
Peter Kuitenbrouwer
National Post
Wednesday, November 14, 2007
The climax came at 11 a.m. As security guards and police in yellow jackets struggled to contain a seething, frenzied herd of real estate agents on Bloor Street, a worker leaned an aluminum ladder and climbed to the billboard above the street. Underneath the words, "The Best Corner in the World," he began peeling off a sign that read, "from $300,000 to $2-million," to reveal the new price: "from $500,000s to over $8-million."
If there was doubt before, yesterday's events confirmed this: people are speculating in the Toronto real estate market.
On the street yesterday, a riot almost broke out, provoked by two agents who, at 6 a.m., cut in front of more than 100 people who had camped out here for more than a week, for the chance to buy into an 80-storey condo tower that Bazis International wants to put at 1 Bloor St. E., corner of Yonge Street.
"I'm an agent," said Nadine Robbins. "These people who have been waiting in line are students and homeless people. The cop said to us, 'You're agents, you get to the front of the line.' "
Others shouted, "You should be in the back in the first place!"
As the crowd surged, Adam Szalai and two other "place-holders" commandeered a nearby Purolator office for an emergency meeting with a police sergeant and security guards working for the developer.
Mr. Szalai's group had for a week maintained a list of those waiting in line.
Mr. Szalai recounted later: "The sergeant said, 'Look, the builder is not going to respect your list. But I'll back you up because I think it's the best system.' "
Once the deal was done, Hersh Litvack of Re/Max (for whom Mr. Szalai was working) and Anna Cass of Royal LePage stood in front of the television cameras, to take credit for the victory of order over chaos. Mr. Hersh brought a box of Hershey chocolate bars, printed with his smiling face on the wrapper, and handed them out to the staff inside the sales centre.
At noon the developer opened the door and, as the crowd of agents in pinstripe suits and leopard-fur scarves surged around her, Monica Geiman, a sprite of a placeholder, called out names from the list, allowing agents into the sales centre. The two queue-jumpers slunk back into their spots.
A few minutes later, Ajay Jain, an agent with Century 21, emerged with a price list. He was impressed.
"The prices have gone up significantly," he said. "The largest unit has gone up by $1-million and the smallest has gone up by $60,000."
A fellow agent, referring to those who bought units before yesterday, said, "All the friends and family just doubled their money."
The sheet lists the "Dream 1805," (1,425 square feet in two bedrooms plus library, plus a balcony and a 'Lanai' (a kind of sun room) at $2,149,000.
I asked Mr. Jain why so many people want to live at Yonge and Bloor.
"They don' t," he said. "They want to buy to invest, because they think somebody else will pay them a lot more for this condo once it's built."
The sales sheet said occupancy in the tower is on Nov. 28, 2011. Mr. Jain noted that most end users don't have a 20% deposit -- a minimum $100,000 -- to tie up for four years, but investors do.
"On the board they're saying half a mil. So if you get it at this price [$415,900, the lowest price on the sheet] you're going to make a lot of money."
Mr. Jain called back last night in a rage to say that only the first 35 agents in a line of 100 agents were able to purchase a unit yesterday.
Yesterday, after the crowds melted away, Mr. Szalai stood on Bloor Street, surrounded by television camera trucks and flatbed trucks of Robert B. Somerville, who, just to add to the drama, are digging up Bloor Street to put in electricity conduits.
Two young women, Joey Tsang and Jessica Lam, both agents with Tradeworld, came up and enveloped Mr. Szalai in a bear hug.
"We were so scared, you guys rescued us," Ms. Tsang said.
They made zero. The question is how much the units will be worth when the building is completed. Then we'll know if they made anything. Its starting to sound like the boom of the 1980's which turned into the major bust of the early 90's.
urbandreamer
recession proof
I love to see the herd get slaughtered! Never invest when you're emotional--oh wait, most people do just that....
Anyone with rumours of per cent sold please inform the board; thx.
Anyone with rumours of per cent sold please inform the board; thx.
Jarrek
Active Member
It's starting to look like that eh? If the Bank of Canada raises rates, the whole market could suffer a depression, though it's obviously more than that factor alone that would cause a market downturn.
asiancolossus
Active Member
I think it likely will be a lot higher than the base price but lower than the speculative price. I can see there still being a lot of interest in this building past the hype phase, purely based on location. IMO this location is better than the other luxury condos being built (maybe not facilities and quality, but time will tell of course) that are selling for 1200 to 1500 a square foot now. If the market turns, it will not only affect 1 Bloor but all those other developments too. So its not 1 Bloor specific. The hype for this building will not be a factor in that case. As of right now, I think that if these other luxury condos are worth 1200 to 1500 a square foot, 1 Bloor definitely should be worth just as much. Whether there are enough investors/speculators who agree, time will tell.
BobBob
Senior Member
Sounds like cool heads may yet prevail.
caltrane74
Senior Member
Canada's economy is smokin' hot right now. The bank of Canada would have to raise interest rates by 500 basis points to cause a serious depression style economic downturn in Canada. And that is probably not their objective anywayz....
If they raise interest rates even marginally at this point, they risk sending the loonie into the skys the limit territory....
Observer Walt
Senior Member
Looking at the loonie, and the recent downward trend in rates in the States, a rate decrease is much more likely than an increase.
That said, I am hearing that the banks are tightening up on lending criteria a bit, including fewer people getting "below posted" rates, which may be a sort of rate increase in disguise. How long that might last, I'm not sure.
That said, I am hearing that the banks are tightening up on lending criteria a bit, including fewer people getting "below posted" rates, which may be a sort of rate increase in disguise. How long that might last, I'm not sure.
Dane
Active Member
According to Today's new "Dreamhomes and Condos" magazine... The outdoor Terrace on the rooftop of the Podium will be gracefully adorned with THESE badboys:
The HorseLamp by Moooi (actual size of a real horse, and available at Klaus on King Street East)
I kid you not! if i could scan in a photo of the render I would.... I think this rooftop Terrace just got a whole lot more fun!
The HorseLamp by Moooi (actual size of a real horse, and available at Klaus on King Street East)
I kid you not! if i could scan in a photo of the render I would.... I think this rooftop Terrace just got a whole lot more fun!
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