Berczy Condos, The (Concert Properties) - Real Estate -

[Downtown Dweller]

I've been quoted an estimated $0.45/ft

 

[Leirum]

Great shots.....you must be very happy to finally see your unit. The picture that looks like a paneled hallway with glass lights.....where is this? I can't figure it out.

 

[Leirum]

Sorry, I posted and did not direct to Carturo. I was asking about the picture that looks like a paneled wall with lights sconces. Which room is this?

I had my PDI this morning. I went great, very nice finishes...really impressed. I just had 2 or 3 minor deficiencies, very good work. The only thing I personally did not like was the painting colour, It is not white it is more like yellow cream. On the second picture from 3dmund you will notice the difference between the ceiling colour and the walls, but that is not a big deal, we can paint it ourselves if you don like the colour.

Question for the other people who did the PDI, did you notice that the pot lights did not have glass cover? I put it on my form but then someone said that they would need to confirm as those lights might be like that, I really do not know.

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[400WellingtonGuy]

I suspect that was part of the foyer/lobby.

 

[Leirum]

I spoke to a worker on the site yesterday, Sept 28, and he said there have been 20 PDIs so far and all owners are very pleased. Probably all were the 2nd and 3rd floors. They have finished all units up to the sixth floor, he said. He asked which unit we had and said our flooring was just finished this week....we are on the 10th.

 

[Nabiki]

Thanks for the pictures and the information guys. Your new homes look great! I hope the front entrance door paint colour isn't as greenish in real life...

We have our PDI tomorrow morning so will share with you all. We are one of the North-East corner suites.

Also, I thought we had 24-hour concierge but read that it has changed to executive conceirge hours. I guess I missed that memo!

 

[Leirum]

Frankly, I hope our new board of directors will recommend we do have 24 hour concierge. While it would be more costly, I feel it would be worthwhile for security purposes. Otherwise, I'm sure it would be virtually impossible to keep unwanted people from entering the building from the Front street entrance or even from the garage on Church street.

Please keep those PDI pictures coming. Thanks everyone.

 

[SPToronto]

Also, I thought we had 24-hour concierge but read that it has changed to executive conceirge hours. I guess I missed that memo!

I looked at the condo documents and first year budget last night. It was always budgeted for 8 hours per day. I would think that was an easy way to keep the initial budget/costs down.

 

[SPToronto]

Questions for those who have had their PDI:

Has anyone seen the parking garage and storage lockers? If so, how is the access and are the sizes what you expected? Are the storage lockers full height or limited height?

Also, in terms of getting samples of the floor/tile for colour matching, has anyone asked to take away some scraps?

 

[400WellingtonGuy]

I looked at the condo documents and first year budget last night. It was always budgeted for 8 hours per day. I would think that was an easy way to keep the initial budget/costs down.

Everyone should be prepared to see a significant increase in their common fees after the first year because at 0.46/sqft, is just not realistic and usually the biggest issue is the contribution from the Corporation to the reserve fund study. After that is done at the end of the first year, that usually automatically requires a 10-20% increase from what the developer says it needed to be (they usually underestimate this on purpose).

As well, if you look at the budget, there are some overestimated values. For example, the executive concierge at $19.70 an hour is higher than it needs to be, the day superintendent at $55,000 should be in the 40ks, the Contract cleaning at $107,453 and $20/hr is way too high!, and the property managers at $78,784 is too high (could easily be in the 50ks, especially with a day superintendent).

Imagine at after 5pm, there is no security/concierge at night. There are guest suites to maintain and no one is around to deal with folks making too much noise, illegally moving, abusing the common elements etc. I suspect that the budget will need to re-prioritized to get the money into the spots it needs to, like more security.

The unknown at this time is that there is a stipulation in the new budget from late 2010 that the budget will increase by 6% automatically if the condo is registered after March 31, 2013. So that alone, will put fees to just over $0.48/sqft. if they pull the trigger on that clause. We should see that on closing when they ask for the common fee cheques in advance.

 

[nylon]

Anyone know how to schedule 'appraisals' for mortgage purposes? Can this be done at the same time as the PDI?

 

[400WellingtonGuy]

Anyone know how to schedule 'appraisals' for mortgage purposes? Can this be done at the same time as the PDI?

Great question, I am in the same boat. Why don't use ask Customer Service if they mind that an appraiser is allowed to accompany you on the PDI for this purpose? The reasoning is that there is no occupancy period here making a visit by an appraiser impossible, so they need to be flexible.

 

[nylon]

That's right since there is no 'interim occupancy' and we are moving to 'final closing', if anyone has a mortgage, an appraisal must be done prior to the closing date. The appraiser will need access to the unit.

I just called the property manager and she doesn't seem to have a clue. They said they were going to get in touch with Concert and get back to me.

 

[gmeo]

Here are some pics and sneak peek of common areas.

In the pics you will see:
-Enterphone system (need more security. the units don't have security keypads in them.)
-Front lobby
-Concierge desk
-Outside deck/lounge area
-Party room
-Corridor to elevators
-Elevators
-Mail room
-Workout room
-Yoga room
-Men's change room
-Sauna
-Hot tub
-Change room and lockers
-Lobby chandelier

 

[Leirum]

Thanks for the pics. Another day checked off the calendar.