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

[Youranthony1]

Nice looking unit! Why didn't you ask Concert to add an island?

 

[400WellingtonGuy]

Nice looking unit! Why didn't you ask Concert to add an island?

I will do it myself. I don't think they were really into adding islands. Plus, I needed to see the finished space to dimensionally do it correctly.

 

[400WellingtonGuy]

Kramer,
You look like you are on the seventh floor directly below me. Yours looks very nice!

 

[400WellingtonGuy]

FYI for anyone who took the Rogers 6 month offer,
Pay very close attention to the equipment and services you received. I was having problems with both internet and cable, after having a tech come over I found out:
The first cable box I got was an old model, you should have a small, glossy black cisco nextbox
The internet modem I got was also incorrect and after visiting the rogers store to exchange that, I found out I was actually put on a 'lite' internet package instead of the 'extreme'
I'm still trying to contact the rep that gave the offer as apparently she is the only one who can fix it even though the note on my account says that's what I should have. So if you're internet seems unusually slow, might be why.

On an unrelated note, has anyone tried to mount anything on the wall? Is it me or is there metal behind the drywall? Can't seem to get through anything without a heavy duty drill

Be careful about not finding the simplicity of a metal stud. If you are not finding concrete but metal and it seems to be much tougher than you think, it could be a drain, water or gas line. At a previous condo, a fellow drilled into something he thought was tough for a while - the building was cleared for several hours as he hit the main natural gas line which was installed a little too close to the drywall without a metal plate to protect it.

 

[dushis7]

Lots of units up for rent now...curious to know what they'll go for.

 

[Leirum]

I thought that the owner had to actually occupy the unit for a period of time before they could start to rent it. I sure hope the rentals are not a high % in the building. My experience has been that renters do not care for the property as well as the owner/occupied units. So far there are 8 units listed for rent.

 

[chriskayTO]

If an owner had to occupy a unit before renting it, Toronto's entire condo market would collapse. Not sure the stats (if they even exist) but a lot of properties, especially downtown, are purchased purely as investments with owners who never intend to occupy. They rent them out as soon as they are allowed to, which is at interim occupancy.

 

[harry_fine]

Where do I see these eight units listed? I'm hoping it's not a high percentage.

 

[400WellingtonGuy]

I believe there are 165 units. Even though Concert's marketing says they were selling to folks who would live in them, that is not realistic. My guess is that there will be a minimum of 30% of these units will be rented, and that's a low number for downtown.

 

[Downtown Dweller]

Try this Harry: http://toronto.en.craigslist.ca/sea...ting=&minAsk=&maxAsk=&bedrooms=&housing_type=

Where do I see these eight units listed? I'm hoping it's not a high percentage.

 

[Downtown Dweller]

Agreed. The price point of these units doesn't scream income property.

Also, I'm surprised I haven't seen any properties listed on MLS yet though I did see an agent in the lobby about to show a prospective buyer a unit when I was lingering around prior to my PDI.

I believe there are 165 units. Even though Concert's marketing says they were selling to folks who would live in them, that is not realistic. My guess is that there will be a minimum of 30% of these units will be rented, and that's a low number for downtown.

 

[Leirum]

Saw them on Craigslist. Key in 55 Front St E and eight show up. I saw a couple on MLS rentals too. Did not see any up for sale as yet. Range is from 1.9K to 3.8k

 

[400WellingtonGuy]

Based on Craiglist, it is a bit disheartening to see some of the good units (like the small 1 bed <600 sqft with the huge terrace on the east side) sold to an investor rather than a live-in owner. There was only one of those available in the whole place.

 

[Leirum]

When I was purchasing the unit, Concert sales rep said this building was unique in that it had only 10% investor purchases......let's hope there is not too much more than the 10 or so we are seeing for rent now.

 

[400WellingtonGuy]

When I was purchasing the unit, Concert sales rep said this building was unique in that it had only 10% investor purchases......let's hope there is not too much more than the 10 or so we are seeing for rent now.

How could they possibly know unless a syndicate bought the units. I know at Market Wharf, that did happen. In fact, for Phase 1, the condo board president runs the overseas syndicate's 30 or 40 rental units for just Phase 1. They voted themselves onto the Board, likely to control costs. Suspect that Phase 2 will be the same as I think they have more than 60 or 70 in the tower. This is reality.

I don't think the Berczy will have that sort of experience, so consider us lucky.