Emerald Park Condos (Bazis International, Plaza, Metropia) - Real Estate

I was talking to a mortgage broker when the topic of this property came up. Over the weekend she arranged a number of mortgages for this property. Her words were that it was sold out but I'm assuming she meant the property was selling well.

I checked it out as well and the largest unit they showed me was about 1073 feet and once you add the price of the unit, 1 parking space and a locker you're looking at over $600.00 per square foot. Thanks but no thanks.

As a side note the topic of 1 Bloor east came up (actually I asked). She knows someone working for the main engineering firm and she has heard nothing about the project not going ahead unless the city turned them down.
 
^... She probably meant the reserved units (for brokers and agents) were sold out... not the project.

digitalis said:
I'm not sure if the sales are open to the public or not. I would assume that they are, however when I went, it was the "Preview Sales" and the only way in was by appointment.
Click to expand...

A strategy to create hype... Most sales start off by "appointment" only.
 
Made my purchase

After many hours, I went and purchased a unit with a Terrace.
For those that are asking what percentage sold, I am told approximately just over 75% of units are sold on both tower and there haven't been a price increase.
However, since I was one of the "public" buyer, I don't know how much the pice increased. Could someone tell me?
My unit is the 2+den with 818+323 (terrace) = 1141 on 5th (4th floor). Now I paid $425900 and I am planning to move in and live there. Was this a wise choice?
Also, when you sell the units, do you usually include terrace/balcony in the square footage? I ask because they assured that I'd be only paying for the inside area (818) and not for the terrace.

Oh, here is their info package with drawings of their units http://www.bakerrealtypartners.com/emeraldpark/downloads/emeraldpark_brochure.pdf
 
Ummer said:
After many hours, I went and purchased a unit with a Terrace.
For those that are asking what percentage sold, I am told approximately just over 75% of units are sold on both tower and there haven't been a price increase.
However, since I was one of the "public" buyer, I don't know how much the pice increased. Could someone tell me?
My unit is the 2+den with 818+323 (terrace) = 1141 on 5th (4th floor). Now I paid $425900 and I am planning to move in and live there. Was this a wise choice?
Also, when you sell the units, do you usually include terrace/balcony in the square footage? I ask because they assured that I'd be only paying for the inside area (818) and not for the terrace.

Oh, here is their info package with drawings of their units http://www.bakerrealtypartners.com/emeraldpark/downloads/emeraldpark_brochure.pdf
Click to expand...

I went through several condo's and they indicated that you don't pay for maintenance on the terrace but I know you pay for it upfront. I was considering getting a terrace while going through several condo's but everyone has told me it's such a hassle since you have the cleaners go through your home to get to the windows. Also, the people that live above you might end up throwing stuff(garbage) on your terrace and you will have to clean it up. Often people probably smoke outside and toss the butts down or spit down there. That is the reason why I didn't bother with the terrace. I'm sure if you have guest then it will be nice too. The price seems reasonable considering the location and the size. I don't see 818 in the brochure is it the 812?
 
818 vs 812

chanmr said:
I went through several condo's and they indicated that you don't pay for maintenance on the terrace but I know you pay for it upfront. I was considering getting a terrace while going through several condo's but everyone has told me it's such a hassle since you have the cleaners go through your home to get to the windows. Also, the people that live above you might end up throwing stuff(garbage) on your terrace and you will have to clean it up. Often people probably smoke outside and toss the butts down or spit down there. That is the reason why I didn't bother with the terrace. I'm sure if you have guest then it will be nice too. The price seems reasonable considering the location and the size. I don't see 818 in the brochure is it the 812?
Click to expand...

The terrace unit is not in the brochure. It is exactly the same as the 812 but with a bigger den (5.6x9) and I think the 2nd room was a foot bigger too... But since there are only 6 suites of this sort per building, they might not have put it in the brochure... I do have a drawing of it that I can scan and post later on... but good point about the garbage... I hope this isn't the case...
 
You can only hope that people who can afford to pay $600/sq. foot for a condo are not the spitting/littering types. I highly doubt it will be a problem. Congrats on your purchase. We'll be practically neighbours.
 
Thanks~ however, it's not the people who actually bought the place that I'm worried about but those that'll be renting and have no vested interest. But like you say, we can only hope for the best.

BTW, I don't know if it's true or not but asking the sales people they said the friends and family sale saved you around $3000 per unit... for anyone interested...
 
Another thing about living on the 4th floor is that you will probably hear lots of street noise. People walking around, cars driving by, and the TTC. There will be lots of noise from those buses and subways. But, another good thing about living on 4th floor is that you don't have to go down many flights of stairs when there is a fire.
 
Advantage vs. Disadvantage:
Well~ my thoughts on this was this.
Advantages of 4th floor:
1. The amentities are just out side of my door (literally)
2. Close to parking (not a lot of stopping of elevator)
3. My side (west building) is on top of the office complex (not retail) so it should be more quiet.
4. Since I'm facing West into Beecroft Road, noise will be minimal
5. There is a terrace where I can host BBQ and have my small kid run (walk) around =). Also more area for stuff to store.

Disadvantage:
1. No view
2. Resale will have to target more senior or with small family and not trendy singles
3. people throwing stuff down to your terrace.
4. possible more noise... but doubt it

I don't know.. this is what I could think of... anyone want to add more?
 
Congratulations Ummer, you made a great choice, and I am sure you will enjoy living there! :)

What was the tentative completion date they gave you?
 
Thank you. Tentative completion date is Novemberm 2011. However, longer it takes to be built the better for me... just more time to save up a bit :)
 
apparently prices didn't sky-rocket on this project when it opened to public as compared with the agent pre-sale (so too bad for you investors) ... in some cases units went up only a couple thousand (< 10K), while the price stayed exactly the same for some units ... shows you the market is definitely not crazy HOT no more

Ummer ... so that you can compare with your purchase price, this was the agent preview pricing back on July 10, 2008 (typical units only)

http://www.bakerrealtypartners.com/emeraldpark/downloads/baker_agtpkg_emeraldpark.pdf
 
Ummer said:
The terrace unit is not in the brochure. It is exactly the same as the 812 but with a bigger den (5.6x9) and I think the 2nd room was a foot bigger too... But since there are only 6 suites of this sort per building, they might not have put it in the brochure... I do have a drawing of it that I can scan and post later on... but good point about the garbage... I hope this isn't the case...
Click to expand...


I don't know if you have the choice, but personally, I would make minor changes and get rid of the den, thereby enlarging the 2nd bedroom another 2 ft (ie. 13 x 8). You will also get a full 8ft width of closets ! ! !

If you're interested, PM me and I will show you what I mean.
You can then inquire with the developer and decide if it fea$ible for you.
 
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