Toronto 50 Scollard | 147.62m | 41s | Lanterra | Foster + Partners

196379


"We have been friends with Lanterra Developments for many years, and because of our ongoing relationship, we have exclusive incentives. The first 30 Buyers will receive special promotional discounts and have first selection of suites before it is open to the broker community. All the suites come with 1 Free designated valet parking spot (a $150,000 value). You will also receive 5% interest on your exclusively extended deposit structure. Our cash back incentives vary from $53,000.00 up to $709,000.00 (depending on how large the suite is). All these are exclusive incentives, not available through other brokers and not offered by the developer to the public."

Really pushing these units.
 
Market has gone soft for lux units due to stricter lending criteria and foreign buyers tax. This being said,there was a globe article about Hong Kong buyers bringing money over due to the ongoing instability over there.... so the sales may improve. The price point of this building is not geared towards investors looking to rent out units like 155 Yorkville
 
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Got an email today that the project is 50% sold. They also have a sign added to the site that states the same.

We are sure you have heard by now, 50 SCOLLARD is now over 50% sold and we will be starting construction later this fall. We will be celebrating at our extraordinary construction celebration event at Sofia Restaurant & Bar (99 Yorkville Avenue) on TUESDAY, NOVEMBER 26 at which time, we will be officially closing our magnificent sales centre and moving our sales team to the retail unit immediately adjacent, 1329 Bay Street, at the very corner of Davenport and Bay. A save the date note will be sent later this week. We really hope you will join us for a special Lanterra evening you will long remember.
 
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This must be really high-end condos costing a lot because it's taken much longer than most condos to reach 50% sale mark
 
kweku said:
This must be really high-end condos costing a lot because it's taken much longer than most condos to reach 50% sale mark
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They Increased the unit count to effectively decrease the overall unit size which is easier to sell to investors. This is the reason when you go buy a pre-construction unit during the initial launch the small units get scooped up, it's easy to rent and easy to flip.
 
Personally, I would have a hard time buying anything in that range right now with so many products that are cheaper.
But FOR SURE would never buy from Lanterra.
I'm surprised people would even consider a Luxury product from Lanterra while they've been TERRIBLE at the building the regular range condos, let alone lux
They're known to be a bad developer with flooding, elevator and noise issues in their buildings like Ice Condos. I have actually rescinded an offer after I've read the meeting minutes at Ice
 
karledice said:
Personally, I would have a hard time buying anything in that range right now with so many products that are cheaper.
But FOR SURE would never buy from Lanterra.
I'm surprised people would even consider a Luxury product from Lanterra while they've been TERRIBLE at the building the regular range condos, let alone lux
They're known to be a bad developer with flooding, elevator and noise issues in their buildings like Ice Condos. I have actually rescinded an offer after I've read the meeting minutes at Ice
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Yup. Could not pay me to buy from them.....again. Hopefully they have improved over the years but man, at one point I had them on the level of Concord Adex, maybe even lower.
 
differential said:
$1500-$1600/sqft which is insane.
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It was originally launched at $2,000 to $2,500/sq.ft. before they revised some of the floor plans to add more smaller units and dropped the pricing to make it more marketable.
KING Toronto (Westbank/BIG) is selling from $1,600 to $2,100/sq.ft. with the penthouses at around $2,300+/sq.ft. It is not in Yorkville, was launched 4 months after 50 Scollard, and is almost sold out — and they have 6 times more units. KING Toronto has a much more progressive and daring design and the builder has a much better track record for building high design and high quality with exclusive features — Vancouver House, also designed by BIG/Westbank is jaw-dropping stunning.
 
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