$5 million condo hunt.

[beaconer]

If I was looking and won the LotoMax last week, I would buying in the Yorkville area without a doubt. A $5M purchase anywhere else is just plain silly for a condo.

I'd agree with this, although I'm really not the type to live in this area..
(With that kind of money, I'd probably by a 'modest' home in the beaches.)

Buying a big fish in a small pond unit is a tough investment, partly because you are paying magnitudes more on your fees than the rest of the building, but also its a tough resale.

i.e. Vince Carter's decked out waterfront condo went unsold for the longest time, untill a Blue Jays pitcher (I think it was Burnett) came up and picked it up a few years later.

$5 million dollar units in Yorkville are a dime a dozen.

Birds of a feather...

 

[safeashouses]

$5 million dollar units in Yorkville are a dime a dozen.

Birds of a feather...

This is such agent/marketing crap guys. I bet there aren't 5 units in all of Toronto that are arms's length (ie not the Trump developer selling the unit to himself) that actually sold and closed for $5,000,000.

Perhaps 130 Bloor however it's my understanding the developers themselves have taken the larger units there as well.

 

[beaconer]

First off, I'm not an agent.

Second off, do your research..

Yorkville Condos over $5,000,000

This is such agent/marketing crap guys. I bet there aren't 5 units in all of Toronto that are arms's length (ie not the Trump developer selling the unit to himself) that actually sold and closed for $5,000,000.

Perhaps 130 Bloor however it's my understanding the developers themselves have taken the larger units there as well.

 

[safeashouses]

First off, I'm not an agent.

Second off, do your research..

Yorkville Condos over $5,000,000

These are FOR SALE. Show me SOLD & CLOSED.

I'm not calling you an agent. I'm suggesting all these mythical $10,000,000 condo sales are just typical marketing tricks designed to convey a sense of super luxury and strangth. The reality is far different as you'll soon find if you dig through the actual sales.

 

[dt_toronto_geek]

As much as I would love to be up high, it would be hard to pass up something like this: http://www.realtor.ca/propertyDetails.aspx?propertyId=8830136
.

Or these Jarvis Street gems -

http://www.realtor.ca/propertyDetails.aspx?propertyId=8789279

 

[scarberiankhatru]

These are FOR SALE. Show me SOLD & CLOSED.

There's also only 7 for sale...which is why I mentioned the appeal of a list/poll earlier. Why limit a dream condo purchase to $5M? $4M isn't already fantasy? Perhaps Ace won the lottery and has exactly $4.9M to spend

I'm not sure how great the penthouses at the Met or Murano are, but I do like the location. If the West Don Lands turns out well and the DRL is built, that'd be a good spot. If there were more good options, I'd perhaps say St. clair just west of Yonge, overlooking the cemetery. Perhaps one of the office towers (Imperial Oil or the one next to it) could be converted into condos to create an option.

 

[ACE]

.

 

[beaconer]

5 million dollar transactions are rare for both condos and houses. I would suspect closings on $5 mil houses are a just a few a year as well.

But the market, as small, specialized and ridiculous as it is, exists.

$10 mil, that a different beast altogether..

 

[safeashouses]

5 million dollar transactions are rare for both condos and houses. I would suspect closings on $5 mil houses are a just a few a year as well.

But the market, as small, specialized and ridiculous as it is, exists.

$10 mil, that a different beast altogether..

Houses? Sure.

Condos? Doubt there have been 5, ever. Please prove me wrong, I'd be very curious to know.

 

[beaconer]

Well,

First off we know we have Ace..

 

[safeashouses]

Yes, our Ace in the hole makes 1

 

[kdub333]

Under $5 million

Well, if i had to slum it and go BELOW $5 million, my top three picks would be:
1. M5V condos
Any one of the penthouse units with an inner patio that is open to the rooftop. They used to be listed on the website but have been removed.
2. 500 Wellington West
Any unit with a somewhat clear view
3. Langston Hall 12th or PH level
That is, if it ever gets built

...yeah, I'd also check out the Shangri-la.

 

[TrickyRicky]

I mean no disrespect but this thread does seem a lot like a marketing vehicle.

With regard to unit price if you are concerned at all about your investment or resale potential a fairly standard rule of thumb is never buy the best house on the block. In the condo context I think this would mean be cautious about buying a high price unit in a building with a high degree of unit price variability. If all the units are expensive that's fine, but if it is chalk full of cheaper or a lot of small units I would think you would be likely to experience resale problems in the future, if that happens to be a concern.

 

[ACE]

.

 

[cdr108]

my Q is why no houses and only condos?

for $5 million, one could get 2 nice houses in lower Rosedale.