Berczy Condos, The (Concert Properties) - Real Estate -

UrbanVigor said:
Since a lot of you may have experienced the frenzy at the sales centre, thought you'd be interested in Charles Hanes' blog...

http://www.simplycondos.blogspot.com/
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The guy is pretty upset because he was not able to get units for his clients, but what the agents do not realize is that Berczy is a totally different project in downtown. the downtown agents are used to sell high rise towers with 300, 400 and more units with tons of bachelors and junior one bedrooms. DNA3 has more than 600 units and if I am not wrong more than 400 units are under 600 sq ft, very easy for realtors to get units. on the other hand, Berczy had only 19 one bedroom units and 35 one plus den units, the rest are large 2 bed and plus. It was very difficult, almost impossible to get a one bedroom unit. most of them were sold internally. there were 200 agents in the realtor preview event, all of them with clients and of course most of them were very frustated because there was not enough inventory for such amount of realtors and clients. They were also very upset because the builder did not give them 100% priority, the builder had arranged a lot of private appointments without agents. what's wrong with that?
 
Market correction wrt The Berczy

3dmund said:
I think he meant $392 000 as I got the same unit on the third floor as well facing east! I agree with UrbanVigor that if you're planning on living there then it shouldn't matter as much whether the market will go down a bit since you will not be selling anytime in the near future. Also, there aren't that many more (if any at all) pieces of land where a condo can come up around the St. Lawrence Market and this is a prime prime location in my eyes. At $392 000 it's about 530 psf which I think is a great deal when compared to the rest of the buildings in the area.
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simuls said:
I think it's a great deal for that area. It's the places that are charging $600+/ft for non luxury that will suffer (think Maple Leaf/Ice, etc). At $530 you're pretty safe even if there's a 20% correction.
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Hi guys, I have corrected the price of the B4 unit to 392K. 292K would be a no brainer huh?? hahah..
Just playing the devils advocate here: Assuming the market corrects by 20%, thats $120 less/sq ft (assuming an average of $600psf. as per simuls) The price psf, conservatively speaking (20% is conservative IMHO), would drop to $480psf. Thats a drop of 80K! on a 400k unit. Not to play Dr Doom and Gloom here, but look at what is happening around the world, economically speaking of course.
I had an intersting convo with a friend of mine. I was defending the Berzy purchase and he was arguing how prices are going to drop to 50%!! I relented, shook my head, laughed, and scoffed at him for even suggesting a Toronto RE price drop of 50%. He then reminded me of what has been happening south of the border, with homes in the US selling for as low as 20% of its original price. I am not saying I completely agree with him, but he did open my eyes to the possibility of a price drop between 20-35 points. Plus, the "recession", as we like to call it, lasted no more than a few months, something unheard of! I believe the Govt's stimulus package (essentially printing more money) was a temp fix, and the mini recession is merely a tremor before the mag. 7 quake. Bah! I guess ppl. have been calling for a correction/bubble etc, for years now, and no one has a crystal ball. I am simply trying to see if I am the lone whistle in the wind :)
 
Hey, does anybody have a price list for the Berczy? I'm wondering what the larger units are going for.
 
Hrdnox said:
Hi guys, I have corrected the price of the B4 unit to 392K. 292K would be a no brainer huh?? hahah..
Just playing the devils advocate here: Assuming the market corrects by 20%, thats $120 less/sq ft (assuming an average of $600psf. as per simuls) The price psf, conservatively speaking (20% is conservative IMHO), would drop to $480psf. Thats a drop of 80K! on a 400k unit. Not to play Dr Doom and Gloom here, but look at what is happening around the world, economically speaking of course.
I had an intersting convo with a friend of mine. I was defending the Berzy purchase and he was arguing how prices are going to drop to 50%!! I relented, shook my head, laughed, and scoffed at him for even suggesting a Toronto RE price drop of 50%. He then reminded me of what has been happening south of the border, with homes in the US selling for as low as 20% of its original price. I am not saying I completely agree with him, but he did open my eyes to the possibility of a price drop between 20-35 points. Plus, the "recession", as we like to call it, lasted no more than a few months, something unheard of! I believe the Govt's stimulus package (essentially printing more money) was a temp fix, and the mini recession is merely a tremor before the mag. 7 quake. Bah! I guess ppl. have been calling for a correction/bubble etc, for years now, and no one has a crystal ball. I am simply trying to see if I am the lone whistle in the wind :)
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Whether there's a recession or not...I still think having a place in that area is a good investment.
 
I was told by one of the Berczy sales agents yesterday that they have released ALL suites but the lowest priced unit until the public opening (a legal move since advertised). Even penthouses have been released. They could not confirm but felt they were close to 85% sold.

Since they do not offer customization (all units are fully upgraded already, even including high-end window coverings) they are VERY confident they will be one of the first condos in the city to complete on schedule Aug. 15, 2012.

I think the value of this development will hit the roof once built since the standards are built-in euro appliances, tiled bathroom walls, smooth ceilings, etc.. The standard finishes and extras are amazing.
 
Since they do not offer customization (all units are fully upgraded already, even including high-end window coverings) they are VERY confident they will be one of the first condos in the city to complete on schedule Aug. 15, 2012.
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I am very confident that it will not be complete by Aug 15 2012. They have to take a heritage structure down brick by brick so that they can use these bricks to rebuild the facade later. They probably wont get the demolition done and get the permits for the rest of the works until the end of the year. They will start excavation in early 2011, so that means it is impossible to get that up in 20 months, so think January 2013.
 
Charles Hanes is a self-promoting idiot. In fact, he'd pair up quite nicely with Rosie DiManno.
 
D3 floor plan

Hi everyone,

Thanks for the great comments about this project.

What are your thoughts on Unit 914 Style D3 at $549,900 ($582 per square foot) with parking for $584,900.00 ($619 per square foot). See here.

Thoughts on the floor plan / orientation would be appreciated.

Also, this unit is next to the elevators - Would this be an issue?

Thanks!
 
hey new to this blog....I picked up a Suite there for investment the A3 model at $508 psf - west view on the 8th floor - lucky unit #808! Any comments on views from this height, I think it will be ok?

love the location and the standard stuff is amazing! built in everything and security top notch.....I think from what I am seeing that lower rise condo maybe London is blocking more of the south west end of building? anyone have an idea?

sales office was crazy
 
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Brycie said:
hey new to this blog....I picked up a Suite there for investment the A3 model at $508 psf - west view on the 8th floor - lucky unit #808! Any comments on views from this height, I think it will be ok?

love the location and the standard stuff is amazing! built in everything and security top notch.....I think from what I am seeing that lower rise condo maybe London is blocking more of the south west end of building? anyone have an idea?

sales office was crazy
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you will have an unobstructed view of the CN tower, very nice. I think the unit was priced very cheap for an excellent layout, beautiful view and great finishes
 
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