Toronto MYC Merton Yonge Condominiums | ?m | 24s | Cresford | a—A

BMyers said:
You said the new pricing was overpriced, not the old pricing. You could say the old pricing was overpriced because they reduced it - that is logical. You can't say the new pricing is overpriced based on the fact that they reduced it from a higher price, that is not logical.

You didn't address any of my questions? Do you have any knowledge of pricing and/or sales in this area other than what you see on the public MLS site?
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Do you work for the developer?

Are you in real estate?
 
Rumour was that sales were slow. Merton condos have fairly good resale values, there's not a lot of product and a constant demand. MYC wasn't priced anywhere near the resale prices of the existing 10 year old condos and therefore couldn't capture any of the Merton market. Why would someone spend $100,000 more for smaller unit that won't be built for another 5 years?

The sales centre was unceremoniously removed this weekend, no big push for sales or last-chance blow-out. Cresford may have abandoned ship.
 
Kaiserhead77 said:
Rumour was that sales were slow. Merton condos have fairly good resale values, there's not a lot of product and a constant demand. MYC wasn't priced anywhere near the resale prices of the existing 10 year old condos and therefore couldn't capture any of the Merton market. Why would someone spend $100,000 more for smaller unit that won't be built for another 5 years?

The sales centre was unceremoniously removed this weekend, no big push for sales or last-chance blow-out. Cresford may have abandoned ship.
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BMyers ... any updates on this project since you sound like have some insider info ... ??!!??
 
This sales centre was always ment to be a temporary fixture. Its departure doesn't shed any new light.
 
For the asking price, the sales office wasn't exactly all that professional looking. It looked very temporary, not something which was supposed to be up for months and months. In fact, it reminded me of the tents at Fashion Week...and Fashion Week is only five days.
 
Sorry,

Cresford is no longer a client of my company.
 
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I think you're missing a "no", BMyers. I still think MYC was overpriced, even after they slashed prices. Would you agree with me now?
 
According to MYC's voicemail message:

"we are located at 1815 Yonge Street, the office is currently open by appointment only..."

I don't know what to think of this project ... it seems closed (sales office removed), but the telephone & website still works
 
Official word is that the sales office is closed temporarily as the developer considers different marketing strategies for this project including building a full-on sales centre with a model suite. As most people here know, the MYC sales centre was more like a tent with a scale model of the building and a few posters up to look at and not much more.
 
alafleur said:
... the MYC sales centre was more like a tent with a scale model of the building and a few posters up to look at and not much more.
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Ironically, that would have worked 2 years ago during the peak of RE boom and sales would have reached 70% in 1 month ... LOL, those were the days. :eek:
 
cdr108 said:
Ironically, that would have worked 2 years ago during the peak of RE boom and sales would have reached 70% in 1 month ... LOL, those were the days. :eek:
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Ehh, in those days a chimp in a hat, distributing flyers, would've sold condos...
 
Without offense to Cresford (or anyone who has / had them as a client), their whole strategy in recent years has been the pits, on several fronts. There has been more than one issue around past projects of theirs.

IMO, they need to decide which market they are aiming this condo at. The "Young and Eligible" crowd of 20-somethings, or the more staid North Toronto empty-nesters or childless professionals? Then, they need to spend a few bucks on a decent sales office, as already mentioned here. Glad to know that I was not the only one who was unimpressed with this office.

The building itself seems well designed and attractive. The architect (Clewes) put thought into it. They haven't given it the support it deserves.
 
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