Bisha Hotel and Residences (Lifetime Developments, INK Entertainment) - Real Estate -

Discussion in 'Real Estate - Individual Project Threads' started by carturo15, Aug 20, 2010.

  1. carturo15

    carturo15 Active Member

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    Bisha, $296900 for a 389 sq ft bachelor. $364900 for 537 sq ft. $406.900 for 583 sq ft. $544900 for 792 sq ft. $665900 for 944. with 20% down, 4% interest and 25 year amortization, the carrying costs for the bachelor are $1750 and $2400 for the 583 sq ft unit. This is just crazy, well maybe we will have here some realtors saying "wow, prices are amazing". I would like to know who is buying these condos, they have to be all overseas investors, I do not see any local buying here at this price point.
     
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  2. JayBee

    JayBee Senior Member

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    LOL, if those are the prices, I don't see this thing getting off the ground. I'd much rather buy at 1 Bloor.
     
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  3. urbandreamer

    urbandreamer recession proof

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    I hope it succeeds. Forget 1 Bloor--that area is no longer the hip modern money area. When all these condos get built over the next 10-20 years in the old entertainment district, the area is going to change. RC etc means HR-style service is coming....
     
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  4. cdr108

    cdr108 Senior Member

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    those prices are crazy ... $700 PSF
    funny you should say some realtor will say "wow, prices are amazing" ... Condo George did just that at another thread.
     
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  5. BobBob

    BobBob Senior Member

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    I'm always a bit surprised about people's surprise at high PSF asking prices at various projects which aim to be seen as high-end. Are you similarly stunned about prices demanded for designer garments or luxury cars? Clearly, this project is targeted at a different market than projects being sold at, say, $500 PSF. Whether they will succeed is still unknown, but I wouldn't be very surprised if they did, nor would I be quick to assume that those buying into the project don't know what they are doing...
     
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  6. carturo15

    carturo15 Active Member

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    I have never seen a really high-end project with 389 sq ft bachelors and exposed concrete ceilings, so I am not sure what you are calling it "a different market". if you check the features list, the finishes are the same to the finishes offered at Victory Condos.
     
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  7. urbandreamer

    urbandreamer recession proof

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    Of all the luxury hotels I've seen marketed in the past 10 years in Toronto, Bisha looks like the best. Think of it as Toronto's version of Vancouver's Opus. Actually, think of the area as a funner version of Vancouver's Yaletown. (Former warehouse district turned to bars and then into high end condo land, only on a larger scale in Toronto.)

    Maybe a price check here is coming though....
     
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  8. BobBob

    BobBob Senior Member

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    I never claimed that Bisha will succeed nor that it is a high-quality project. Frankly, I don't know the much about it and I'm not interested to learn.

    It is clear, however, that they are targeting, and therefore HOPING to penetrate, a particular market: that of relatively well-off youngish people with socialite aspirations and questionable taste. Price is one way to differentiate your project from those with fewer pretensions.
     
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  9. Condo George

    Condo George Active Member

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    I did ? Funny just because I attend the Platinum broker event doesnt mean I will sell the project once I receive all the info distributed at that event. By the way, who is "some realtor"?
     
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  10. lochlyn

    lochlyn New Member

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    could you post the price list here? i am not sure i need to contact an agent before I see the full pricing...

    Beside, could anyone explain why the resale has been so cheap comparing with new condo sale? even though they all in exactly same neighbor, and resale condo barely one year old...
     
    Last edited: Aug 22, 2010
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  11. simuls

    simuls Senior Member

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    Resale will always correct its prices in a poor market (now) faster than pre-construction. Prices are dropping almost across the board with higher end properties dropping the fastest. Look for pre-constuction to offer incentives first (and all of a sudden be open to price negotiations - they will not, however, advertise this) within 2-3 months and for it to be ubiquitous in the new condo market by March.

    On the topic of Bisha, however, $700/ft isn't exceptional when crap Pinnacle on Adelaide with 8 ft ceilings is selling at $600/ft and mediocre finished Bell Lightbox is at $800+. With the launch soon of the Cinema tower, 2 more Daniels towers at Richmond/Duncan, plus about 15 others, this area is going to be condo crazy soon enough. Although I'm sure a lot will be put off with the current absence of buyers. Went to numerous showrooms this weekend and it's a veritable ghost town in all of them. I think you'll see a return to $500/ft pricing in many of these projects or they'll die.
     
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  12. interchange42

    interchange42 Administrator Staff Member

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    Lifetime has a serious new promo on for subscribers to Bisha's tweets:

    Twitter EXCLUSIVE 4 followers ONLY: $7,500 gift card to Casalife on next 5 STUDIO purchases. Visit our sales office & mention#BishaTwitter!
    Twitter EXCLUSIVE 4 followers ONLY: $10,000 gift card to Casalife on next 5 ONE-BED purchases. Visit sales office & mention#BishaTwitter!

    Not subscribed to @Bisha’s twitter yet? Register at www.twitter.com/bisha
     
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  13. onebloorvip

    onebloorvip New Member

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    Any new promotions for Bisha???
     
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  14. kaji

    kaji New Member

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  15. cdr108

    cdr108 Senior Member

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    wow, i feel for you.

    sadly, that is typical of alot of new construction.
    i had 100+ deficiencies for my Vu condo built by Aspen Ridge
     
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