Toronto Charlie Condos | 122.83m | 36s | Great Gulf | Diamond Schmitt

I'm not sure if Cotton II is the 1+1 721 SF unit for $299,990.

Pricing equals $416 PSF, but this unit faces west. Isn't that directly opposite the Hudson?

Also, I find the layout quite poor.


Was Charlie really selling for $600 PSF ??? That's definitely overpriced if so.
That's a 30% haircut ... :D
 
cdr108 said:
I'm not sure if Cotton II is the 1+1 721 SF unit for $299,990.

Pricing equals $416 PSF, but this unit faces west. Isn't that directly opposite the Hudson?

Also, I find the layout quite poor.


Was Charlie really selling for $600 PSF ??? That's definitely overpriced if so.
That's a 30% haircut ... :D
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They were selling for $600 psf, but nobody has bought at that price
 
Solaris said:
Baker Real Estate has a practice of showing units with a red dot (implying sold) but in fact the unit can be:
  • actually sold
  • on hold by purchaser
  • held back by builder for future release
  • not sold but builder wanted to make the sales % board appear 'hotter' to suggest units are 'in demand' ... fake perception

I suspect Charlie will be delaying construction well beyond June 2009 ~

Eeeks, prices slashed like that huh! .... another sign of the times?
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Baker also exaggerates the rents one can get for a unit.
I was at a Context MarketWharf presentation and they were touting the rental feasability to investors saying they could get $1500 for ~ 500 SF (no parking).

Not bloody likely unlike it was at the Ritz Carlton or something similar and completely furnished.
 
cdr108 said:
Baker also exaggerates the rents one can get for a unit.
I was at a Context MarketWharf presentation and they were touting the rental feasability to investors saying they could get $1500 for ~ 500 SF (no parking).

Not bloody likely unlike it was at the Ritz Carlton or something similar and completely furnished.
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Well, it depends. I had a 455 sq ft in Spire-33 Lombard (Context) on a high floor and I was getting $1.350 monthly plus hydro, no furnished. Believe it or not, there are some buildings in downtown that people are willing to pay premiums
 
Solaris said:
Baker Real Estate has a practice of showing units with a red dot (implying sold) but in fact the unit can be:
  • actually sold
  • on hold by purchaser
  • held back by builder for future release
  • not sold but builder wanted to make the sales % board appear 'hotter' to suggest units are 'in demand' ... fake perception

I suspect Charlie will be delaying construction well beyond June 2009 ~

Eeeks, prices slashed like that huh! .... another sign of the times?
Click to expand...


Exactly that's how they work to create the impression. The way things are going there is a probability they can delay unless GG has a lot of cash or backing.

Their latest ad at the Globe and Mail also looks toned down (relative to their earlier ads) without the glamor etc etc.

btw the 600 per sft I quoted probably includes parking. I am not sure how much one parking unit costs these days. I think Charlie has it available only if you buy a 2 bedroom unit.
 
Has anyone checked out the sale they had in the Globe & Mail?

I went by on Sunday and looked at the 1+den and 2 bedroom units. They seem to be pricing low for the North West facing units (about $420 per sq ft). Some of the other units (south facing) are roughly $485 per sq ft.

How high would you have to get in a North West facing unit to get some sun and view?

The 8th floor unit is too low (I think). They have one on the 29th floor, but you pay a huge premium.

Is this a good building to buy into? I think the area will be quite pricey once the Festival tower, M5V, and other developments are completed.
 
If I was buying a condo, I'd consider this building. I predict King/Spadina/John/Wellington area becomes the new upscale 'hood within a decade. (Film Festival stuff and all the trendy hotels will make it the new Yorkville.)

I don't think having tons of sun exposure in an all glass building is a good idea.
 
pricing is low for the 8th floor northwest facing units because you look right into another building (aka Glas) ... there's a huge premium on the 29th floor is because you would clear the Glas building and actually get some views and sunlight ... but that's a premium that I'd pay if I were you
 
Would you say there is a $60k difference between floors 8 and 29. Is it worth it for the floor increase? Will I get more than $60k back when I sell it?

If I got a unit that didn't completely clear glas but was pretty high end, would this be better?

What floor would you have to reach to get sunlight and perhaps some view? I guess I want to try to find the balance between price and view....

Also, does anyone know how sales are going for Charlie?? Will this project ever get built?

Thanks.
 
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I'd rather save the $60k and have a better view--of glas. Yes, glas is better looking than 90% of the dreariness north of it. (If glas is hot, imagine the ppl living in it!:D) (For example, I have a "stunning" view of most of Toronto, yet 99% of the time I keep my curtains shut, especially during the day when the sun is brutally hot/bright. A south-western all glass exposure would be unbearable.)

Of course, for the same money as a charlie condo, you could buy a semi around College and Dufferin....
 
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This building will be great. The model suite is quite nice. I'm really liking this building.... They were really sketchy when I asked when the building will be built. I'm thinking 2012.
 
JayBee said:
They were really sketchy when I asked when the building will be built. I'm thinking 2012.
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I dont think anyone in their right of mind would be investing and waiting six years for a building to start in 2012, with a most likely move in date sometime in 2015.
I think if this building sells well, you might see ground breaking late this year or early 2010.
 
Automation Gallery said:
I dont think anyone in their right of mind would be investing and waiting six years for a building to start in 2012, with a most likely move in date sometime in 2015.
I think if this building sells well, you might see ground breaking late this year or early 2010.
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Sorry, I meant that the building would be completed in 2012.

I'm very impressed with it though.
 
JayBee said:
Sorry, I meant that the building would be completed in 2012.

I'm very impressed with it though.
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LOL ... if the sales reps told you that it would be completed by 2012, they are TOTALLY LIEING.

This project hasn't even reached enough sales to break ground yet.
When ground does break, I would estimate 1 month per floor for construction from beginning to end ... so expect completion 3 years from construction starting.
 
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