condo advice

Discussion in 'Real Estate General Discussions' started by Ru5tY888, May 4, 2006.

  1. Ru5tY888

    Ru5tY888 Guest

    Hey everyone,

    Just found this forum and wanted to get some input. I'm thinking of buying a downtown condo to rent out and to start saving some money. The two that I am considering now are:
    - Pinnacle Tower B, , Yonge & Harbour
    - Boutique Condos BQ2, , Nelson & Simcoe

    Any comments on the location, developers, or any other advice?

    Thanks in advance,


  2. Welcome Rusty,

    Moved to real estate section.

  3. Welcome.

    You are probably aware already that Pinnacle 2 will be ready before Boutique. Boutique just started selling in November, and completion is scheduled for Sept. 2008, although this may of course be pushed back if sales are slow. Pinnacle 2 is supposed to be ready in 07.

    Pinnacle is being developed by a company which seems to have had most of its previous experience on the west coast, although they did do the Bellagio, on Bloor near Jarvis, which as far as I know is well regarded. Boutique is being done by a partnership of several companies, including Urban Capital Property Group, Alit Developments, and Malibu Investments. All three of these have done significant projects in Toronto and are obviously fully experienced in this city.

    Both of them are immediately adjacent to downtown and it would probably be a tossup as to which location is better.

    Prices per square foot are running significantly higher at Pinnacle than at Boutique and this may be the make-it-or-break-it consideration for you. Not all potential tenants will be willing to pay a higher rental rate in proportion to your purchase price.
  4. Ru5tY888

    Ru5tY888 Guest

    Great, thanks for your input!

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