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Wow wow @ that studio: $2,136/sqft. 1bed $1814/sqft another 1 bed $2,098/sqft. Even if there was 5% off for VIP 'friends' pricing, this is absolute bat shit peak downtown Toronto pricing. Not even just any, Yorkville luxury building pricing.
So what I heard about THIS building is RBC gave blanket pre-approvals at the purchase price (vs having to get re-appraised at closing). Even still, it makes more financial sense to walk away and lose your deposit. 15% deposits I'm assuming?
The risk is the developer sues you for the full closing price! It's happening...
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More work on the podium top lately
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Looks much better with the glass! 😊
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This is another IN8 intern disastern. I wonder how long it'll take until all the windows start to melt like their Duke Tower windows? How long do you reckon it'd take to replace burnt out lightbulbs on this one? Duke Tower had its RGB gamer light podium die pretty quickly, which then took months to fix, then they died again.
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(06-10-2025, 11:59 AM)Momo26 Wrote: Wow wow @ that studio: $2,136/sqft. 1bed $1814/sqft another 1 bed $2,098/sqft. Even if there was 5% off for VIP 'friends' pricing, this is absolute bat shit peak downtown Toronto pricing. Not even just any, Yorkville luxury building pricing.
So what I heard about THIS building is RBC gave blanket pre-approvals at the purchase price (vs having to get re-appraised at closing). Even still, it makes more financial sense to walk away and lose your deposit. 15% deposits I'm assuming?
The risk is the developer sues you for the full closing price! It's happening...
The prices will rebound, just give it 20 years
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The only thing more shocking than the quality of this building is the fact hundreds of people have paid millions of dollars to live in this thing lmao.
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I doubt many of the buyers intended to actually live in it...
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08-09-2025, 04:44 PM
(This post was last modified: 08-09-2025, 04:45 PM by ac3r.)
Live in it, rent it to ...same result, really. None of these projects produce anything of value for the overall community.
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(08-09-2025, 04:12 PM)Joedelay Highhoe Wrote: I doubt many of the buyers intended to actually live in it...
I would have thought most buyers would be wishing they could unload.
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(08-09-2025, 04:44 PM)ac3r Wrote: Live in it, rent it to jeets...same result, really. None of these projects produce anything of value for the overall community.
Oh look, someone with housing lecturing others that the roof over their head isn't valuable.
In terms of "community value", does this lot have higher property taxes than before? I doubt that matters, since the wrong type of people (according to you) are just going to live in it.
local cambridge weirdo
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I actually thing the exterior quality isn't bad. The podium needs a bit of work, but it is so much better the DTK. Overall, this is the most prominent tower in the region now and I think it looks good in the skyline. Wish we could hide DTK somehow.
I will agree that anyone that bought in this building overpaid by hundreds of Thousands, but that doesn't affect me.
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(08-11-2025, 01:57 PM)westwardloo Wrote: I will agree that anyone that bought in this building overpaid by hundreds of Thousands, but that doesn't affect me.
As long as over-leveraged investors don't take down the economy with them (any more than our over reliance on RE has already screwed us), that is.
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Well, people will have to manage.
Literal worse case is someone absolutely cannot close and they sell to someone that can at a major loss or bankruptcy and bank sells. Units may stay empty during all that.
Better case is owners manage. They bleed 1200 to 2k a month renting it out at the going rate (about 1600 to 2300) and just take the perpetual L. There is a slight blip in the condo resale market in 2 to 5 years and they sell for 100 to 150k loss + the thousands/year they were in red monthly.
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This is and is going to happen to literally thousands, I think tens of thousands, of GTA condo units closed/closing 2023 to 2027.
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