X2 Condos (Great Gulf Homes/Lifetime Developments) - Real Estate -

X2 Finishes and features will be very similar to Charlie Condos. Many upgrades that were extra for X will be standard at X2, correct.

Average PPSF is more like $510 for the entire building FYI. Don't be deceived by the $467 PPSF on the price sheet.

Compare that to just about any decent condo project downtown and you see that X2 is priced very well, will likely sell out all the small units in a very short period of time, and investors who get in at the early stages will no doubt be very happy 3-5 years down the road.
 
So this hads turned into an undignified mess of a broker's launch. Great Gulf apparently wined and dined a niche segment in pre-sales events, drummed up some specific interest combined with attractive pricing, and the result is a mob scene. There are currently fights over which of the two lines came first, and reports that some people have been lined up for ten days.

This kind of scene is enough make thoughtful buyers step back and perhaps stay away forever.

As s developer, I would hate that kind of publicity because after the initial blip in early sales, which might account for 25 percent, others brokers and buyers might hesitate...
 
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this was all over the news this morning (CityTV) - there was a 3 day line-up, a 10 day lineup, and a lineup that started last night. The ones that got honoured were the lineup that started last night. They just handed out the numbers. The 10 day lineup is across the street is protesting with "UNFAIR" signs and won't leave.
 
this was all over the news this morning (CityTV) - there was a 3 day line-up, a 10 day lineup, and a lineup that started last night. The ones that got honoured were the lineup that started last night. They just handed out the numbers. The 10 day lineup is across the street is protesting with "UNFAIR" signs and won't leave.

wow.... would never have imagined a repeat of 1BE for X2.
 
Agents duel over condo sale lines

http://www.thestar.com/news/gta/article/730576--agents-duel-over-condo-sale-lines?bn=1
November 25, 2009
Jesse McLean
Edit , as headline is now "Shouts, threats as agents vie for new condos"


Competing lines of real estate agents waiting to buy new luxury condos turned ugly on Bloor St. this morning with jabbing, shouts, threats and accusations of queue-jumping

Some of the agents, who lined both sides of Bloor at Bedford Ave., had been waiting for more than a week to buy units in the X2 development at Jarvis and Charles Sts. Others arrived last night.

By this morning, there were three separate lines of potential buyers, each claiming the right to have first crack at the condos.

Around 8 a.m., a representative for builder Great Gulf Homes threw two of the three warring lineups into a fury by declaring their long waits and place-holding invalid.

Chanting "X2 is unfair," shouting and holding up freshly-made signs with the words "fair" or "unfair" on them, the agents who had waited the longest protested the decision.

Across the street, agents who had arrived just last night were rejoicing.

Sonny Shang said he was the first to line up on Nov. 15. He was outraged that other people who "just showed up at 11 last night" were going to get the first chance to buy the units. "We're very upset. This is very unfair," he said. "They knew about our list and ignored it."

Art Toulami with Top Canadian Realty Inc., gave a thumbs up to cameras after he received a No. 6 on the priority list after a night of waiting across the street from Shang's group.

"It was a fair game we played. They are the ones who decided to go to the other side."

"It's our job with a hot market nowadays," broker Amir Geran said before dawn as he stood in the north-side lineup, the one that ended up getting priority. "You have to line up for condos like this."

The agents are vying for the chance to snap up condos in the 40-plus storey building.

The 30 north side real estate agents started arriving Tuesday night around 11, according to accounts from both sides, usurping the priority once held by another 40 agents who turned up 10 days ago and stretched along the south side of Bloor St. As dawn broke over Bloor, the two outside lines started to realize there was another group of realtors inside the Intercontinental Hotel on the north side, who had been there since Nov. 22, with instructions that "first come, first served" sales would begin in the second-floor Willard Room.

Bell Lan from Homelife Landmark Realty Inc. was part of the original group of agents who have been staking out their claim since Nov. 15. They had started outside the Intercontinental, creating a rotation system, Lan said, but police moved them Sunday afternoon to the other side of Bloor. Last night, the newcomers turned up in their original spots on the north side.

"We didn't agree with the police arrangements," Lan said amid a group of fellow agents bundled into winter coats and sitting in lawn chairs with umbrellas. "There are no rules, no policy. If it's not fair, we don't want to buy anymore."

Kevin Killackey, a Remax agent on the north side, said, "There was no actual procedure set up. Those people over there figured they'd start their own system and go across the street."

Last night, he said, "people were jabbing each other. Police had to break it up."

Inside the hotel, Bing Wang from Sutton Realty Inc. was part of the group he said were promised priority and registration for the VIP sale in the Willard Room.

"We really wanted to be the first ones here," he said. Agents have been calling, faxing and emailing the builder to stay in touch since Nov. 22. What about the other lines? "If you leave, nobody knows you were here."

Wang produced what he called evidence of the inside lineups claim to have been first by showing a video of a deserted Bloor St. time-stamped Nov. 23, when he said he and others checked into the Intercontinental to await the sale.
 
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This is quite comical. How will GG deal with it when One Bloor launches?

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Real estate investors battle over Bloor St. condo

Updated: Wed Nov. 25 2009 9:35:53 AM
ctvtoronto.ca


A battle is brewing among real estate investors over a new condo being built in downtown Toronto.

Three separate groups lined up outside the Intercontinental Hotel on Bloor Street, waiting for the sales center to open. Each were hoping to secure their place in line to buy into the new project being built at Jarvis and Bloor Streets.

However, a dispute broke out between the groups over which line would be honoured. Each group said they received different instructions from the developer.

Dozens of people who began lining up outside the Intercontinental Hotel at 6 a.m. Wednesday said they were told that the developers would not honour any lines that began forming before then.

One line across the street from the hotel formed days ago as did a third line on the second floor of the hotel. Both say they were told not to lineup outside the hotel because they were blocking the sidewalk.

A representative for the developer came out at around 8 a.m. and much to the dismay of many, began issuing numbers to the people who had lined up outside the hotel this morning.

"Unfair! Unfair!" shouted dozens of people across the street, holding up signs in protest.

The representative did not speak to reporters at the scene about the apparent disagreement.
 
this crazyness is 1 Bloor all over again ... ironically this site is ALSO represented by Baker Real Estate :rolleyes:

I have a feeling the hype is purposely created by Baker, something tells me they will purposely do that same thing to One Bloor when it is relaunched, coincidentally it is ALSO being developed by Great Gulf :(
 
I do not think there is any hype created by anyone. Its just greed: agents lining up so they can buy and flip the units later. This will all be very interesting once interest rates rise a little.
 
this was all over the news this morning (CityTV) - there was a 3 day line-up, a 10 day lineup, and a lineup that started last night. The ones that got honoured were the lineup that started last night. They just handed out the numbers. The 10 day lineup is across the street is protesting with "UNFAIR" signs and won't leave.


The 10 day lineup started last week, individuals had to check in at the line twice a day and those who were late at each check in were kicked off the list.

In the beginning the brokerage (Baker Real Estate) selling the units told everyone that they weren't going by the list. Then yesterday, they spoke to the organizer of the list and told him that that they were going by the list.

And now.....you know what happen to those on that list.

My girlfriend was part of the 10 day lineup as well, she was #30 in that line. But she was smart enough not to put all her eggs in one basket and lined up in the hotel yesterday at 11:00 PM.

She is now #9 :)
 
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Does this frenzy take away much of the bargaining power from potential buyers? How can you negotiate effectively if there are 40 agents behind you willing to purchase on terms more favorable to the builder?
 
this crazyness is 1 Bloor all over again ... ironically this site is ALSO represented by Baker Real Estate :rolleyes:

I have a feeling the hype is purposely created by Baker, something tells me they will purposely do that same thing to One Bloor when it is relaunched, coincidentally it is ALSO being developed by Great Gulf :(

I agree. This could all be a marketing gimmick by Baker RE to cause a buzz and get media coverage.
 
I think it would. It would even make some feel rushed. There is a 10 day rescission period but who knows if you can even renegotiate during this period.
 
Its unfair, but it is very interesting how the people from second line reacted, as they tried to cheat the people from the first line and they got chited themselves.
 

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