Shwa78
New Member
AC
Have the air conditioning units not been turned on yet, or is mine just broken?
Have the air conditioning units not been turned on yet, or is mine just broken?
London on the Esplanade Condos (Cityzen) - Real Estate -
- Thread starter mkho
- Start date
Masin
New Member
Broken. Call customer service. Mine was broken too and took a couple visits by the tech to fix it 
Shwa78
New Member
Broken. Call customer service. Mine was broken too and took a couple visits by the tech to fix it
I was afraid of that, seemed odd that they wouldn't have turned them on given that it's been near 30 every day this week! Thanks for letting me know. On the plus side, gives me an excuse to pound back cold beers all day!
mimika
New Member
I am looking at downtown condos and I really like the location for London on Esplanade. Anyone know if it's a good investment property? I am planning to buy a small unit to rent it out, and maybe flip in the future if prices goes up. How much is this building selling now per sq feet?
cdr108
Senior Member
don't know the actual selling $/SF but currently listed on MLS from $550-600 PSF + parking + locker.
the worst value seem to be the 450 SF jr. 1 bedrooms.
overpriced IMO for what you're getting ... north american brand appliances with coil top stoves, over-mount kitchen sinks on 3/4" granite, mediocre floorplans.
rental rates seem to be average @ $2.50 PSF, although you will get some realtors who will try to promote this as a prime location, luxury building, yadda yadda yadda and say rentals are worth $3.00 PSF.
giablo
New Member
I'm wondering about London on the Esplanade's prices right now.
What do you guys think is a good $/SF to buy in this building right now?
What do you guys think is a good $/SF to buy in this building right now?
cdr108
Senior Member
no more than $500 PSF ... those asking $600 PSF are on crack
seriously, there is a 1085 SF loft being sold asking $480,000
http://toronto.en.craigslist.ca/tor/reb/1851795315.html
Coltaine79
Active Member
don't lofts normally command a lower PSF price than regular condos though?
i.e. i paid $467 PSF for my NYCC loft at a time when regular 1 BR's were going for $520-530 PSF.
at the time, I thought I was getting it for cheaper cuz a lot of people aren't into the "wall-less" open-air design...
simuls
Senior Member
It really depends on the loft in question. As this listing is only a 1 bedroom at 1085 sq feet, it will command substantially less than what would normally be expected. That being said, if it was a 2 bed+den 1085, I would expect it to go for about $550 000 in LSE or around $500/ft incl. pkg and locker. You also lose at least 80 sq feet because of the staircase which affects price.
Sometimes hard lofts are MORE expensive - think Toy Factory in Liberty Village or the Candy Factory Lofts on Queen West because of their authenticity and lack of supply. A newly built "soft" loft will generally go for less - probably $50-75/ft - than a hard.
w.ll.am
Active Member
I'm pretty sure corner units are going for around $600 SF
There's been 3 units listed on MLS for 600k and have disappeared from listings within a month.
Most listing on MLS are still developers units I believe. One specifically is the Demo Suite. Their particular units are overpriced.
There's been 3 units listed on MLS for 600k and have disappeared from listings within a month.
Most listing on MLS are still developers units I believe. One specifically is the Demo Suite. Their particular units are overpriced.
Granny
Active Member
It seems it was not that long ago everyone was agog at prices hitting the 500 sq. ft. level. Well 500 sq. ft. came and went like a freight train.
600 sq. ft. and plus is rapidly becoming the new water level mark. Things really NEED to cool down a bit, but from what I see there still is a steady upward climb, though it does appear to be slowing a bit for now. I know I personally canceled a deal because I simply wasn't prepared to swallow the HST bill. I may regret that down the road, but right now real estate in Toronto is starting to take on the feeling of a Russian Roullette game.
simuls
Senior Member
From the peak in April, prices are already down about 5% - it could just be a summer thing as they always drop in the summer - but in the same way that this past year's bump was an anamoly brought on by ridiculously low interest rates - i see the exact same thing happening in the other direction. Just remember, gaining 20% and losing 20% aren't the same thing. We'll be back down to around the $450-500 mark in the core within a year.
cdr108
Senior Member
that's very possible as i remember some pre-construction projects from GG like Charlie and X were selling for $400 - 425 PSF when condo sales froze that one year.
simuls
Senior Member
Yeah, I almost bought at X (STUPID ME STUPID ME STUPID ME!!!) and in a space of about 8 months the price went up $120 000. From an $80 000 discount to $40 000 added. Oh man I'm kicking myself over that one!
JayBee
Senior Member
Funny you say that cuz I know someone who purchased a 800sf 2 bedroom unit there for 320K when developers couldn't give units away just over a year ago. She ended up giving the unit back within the 10 day cooling off period and now every time I talk to her she mentions how pissed she is LOL. The unit has gone up well over $400K. What can ya do?