Project Essentials / dataBase – detailed project information, floor plans, renderings
Projects & Construction Thread  I  Real Estate Thread
Musée Condos 
525 Adelaide St W, Toronto
Developer: Plaza
Website: www.pureplaza.com/index.php?s=community-28

Musée (Plazacorp) - Real Estate -

Discussion in 'Real Estate - Individual Project Threads' started by dragontea, Mar 25, 2013.

  1. dragontea

    dragontea New Member

    Joined:
    Feb 11, 2010
    Messages:
    19
    Likes Received:
    10
    Just starting to sell. Average $510/sq ft. Some units in the mid to high $400/sq ft range. Parking extra @ $29k.
     
    #1

  2. neuhaus

    neuhaus Senior Member

    Joined:
    May 18, 2010
    Messages:
    1,211
    Likes Received:
    180
    Location:
    Toronto
    Pricing is an extremely great deal for King West, undercutting 650King and oneeleven by at least $100/sq.ft. and parking by $5,000-10,000 which may mean there will be plenty of parking here. Again, this is Plazacorp so the quality and finishes will not be near the same level as Freed's and Harhay's buildings next door.
     
    Last edited by a moderator: Mar 26, 2013
    #2
  3. Youranthony1

    Youranthony1 Active Member

    Joined:
    Oct 14, 2011
    Messages:
    357
    Likes Received:
    308
    Location:
    downtown core
    This pricing definitely seems reasonable for the area.

    In my opinion, OneEleven is overpriced and I think they're experiencing a slower than normal sales cycle because of it.
     
    #3
  4. neuhaus

    neuhaus Senior Member

    Joined:
    May 18, 2010
    Messages:
    1,211
    Likes Received:
    180
    Location:
    Toronto
    I actually bought at OneEleven and I think the prices are reasonable for the level of design and finishes, and the developer and project team is highly reputable. I paid $615/sq.ft. for a high floor with terrace. So far sales has been very good from what I heard and construction should start later this spring. There are a number of large 2-level suites littered throughout the building, so naturally those units will take longer to sell.

    Thompson Residences are selling in the $750-800/sq.ft. range however most of the units are 625 sq.ft. and less. Freed just released some new floors with their approved height increase, and they have redesigned two-thirds of their original large two level penthouse units into much smaller units.

    After seeing a few Plazacorp developments it seems like they are catering more to the budget-conscious, first-time buyers or investor buyers, so you get what you pay for. Also Musée has almost the same number of units as 650King and OneEleven combined.

    I am really curious to see the floor plans for this development.
     
    #4
  5. Ric

    Ric Active Member

    Joined:
    May 21, 2008
    Messages:
    335
    Likes Received:
    6
    I think this project will sell very well as units are well priced. Really like the 1B+D, 2Bath units. Floorplans overall are good. Compared to what's available nearby; buyers should have immediate built in equity on purchase.
     
    #5
  6. cdr108

    cdr108 Senior Member

    Joined:
    Apr 22, 2008
    Messages:
    4,641
    Likes Received:
    7
    any floorplans and prices to post?
     
    #6
  7. metroTO

    metroTO Active Member

    Joined:
    May 20, 2011
    Messages:
    299
    Likes Received:
    0
    Location:
    Toronto
    I was with a friend who is looking to buy in this neighbourhood. We looked here, next door at Oneeleven and some resales at Six50 King.
    Musee is definitely the price leader at more than $100/sf cheaper than Oneeleven and Six50 King, with parking included for 2- and 3-bedroom units, however I agree with Neuhaus that you get what you pay for.
    The finishes includes laminate or carpeting flooring and a choice of 1 of 4 interior package schemes. There are no substitutions allowed for the interior packages and also upgrades or plan changes are not allowed at all. The finishes are rather basic and nothing special. It is odd that the closets, doors and some walls have been removed in the model suite in the sales centre which made the suite feel deceivingly more spacious. Ceilings are stippled and 8' tall with 9' on selected floors. What is also very misleading was the views depicted in the interactive touch screens which doesn't include the neighbouring Oneeleven or Six50 buildings.
    The floorplans are actually nicely designed, very efficient with no weird or awkward spaces. I can't find any floorplans online but the sales office is open to the public and they have a mountain of plan brochures as soon as you walk in.

    The building is indeed 21 floors tall but the top floor is considered as level 24, as floors 4, 13 and 14 are omitted to appeal to Asian and superstitious buyers/investors, just like at Concord Cityplace.
    Musee has noticeably more amenities than Oneeleven and Six50 King, which includes a gym, lounge/bar, party room and outdoor pool. However the pool seems to be boxed in by buildings on four sides and will be in shadow for most of the day.
    In comparison Six50 has absolutely no amenities while Oneeleven has some amenities such as a party room/presentation kitchen, outdoor terrace and guest suites.
    Musee has a very appealing promotion where Plazacorp has a rental guarrantee program for 2 years, 1 year free maintenance, $19,000 for parking for 1 bedroom+den suites, and free window coverings though it is the old-school vinyl vertical blinds. The promotion seems to target investors.

    My friend really like value and location of the Musee but was left wanting more in terms of finishes and features as it reminded him of his rental at Liberty Village which he has been living for the past few years.
    Walking over to the sales centre of Oneeleven it was like night and day compared to Musee. Yes Oneeleven is at a higher price point but it by far so much nicer in design inside and out. The standard finishes and features are very high end and there is a wide selection to choose and mix and match from. Being a cook I really appreciate the standard gas range in the kitchen and BBQ gas lines on all balconies.
    Though a bit of an unfair comparison we walked over to take a look at some of the open houses at Six50 King. The finishes were very similar in quality to Oneeleven. There's no gas cooking offered in the kitchen and balcony gas lines are upgrades so not every balcony has one. There seems to be more larger units at Six50 and there seems to be a variety of suite sizes and layouts and doesn't feel so cookie-cutter like Musee.

    Musee is an excellent value for the location and is a good buy for anyone getting their foot into the popular King West neighbournood and investors alike, but for those who want something nicer and upscale should look elsewhere.
     
    #7
  8. SteveYoung

    SteveYoung New Member

    Joined:
    Apr 26, 2013
    Messages:
    17
    Likes Received:
    0
    You will get a better built building at Musee. That's the one thing I'll give Plazacorp. But my goodness their buildings are ugly inside and out.
     
    #8
  9. RZ12

    RZ12 Active Member

    Joined:
    Aug 2, 2012
    Messages:
    305
    Likes Received:
    3
    Location:
    Downtown Toronto
    oneeleven is having trouble selling, last week they had a 6% commission sales event to spur up some interest. Still have over 41 floor plans available.
     
    #9
  10. neuhaus

    neuhaus Senior Member

    Joined:
    May 18, 2010
    Messages:
    1,211
    Likes Received:
    180
    Location:
    Toronto
    Oneeleven is over 70% sold and ready to start construction this fall. Most of the units under 700 sq.ft. are sold, but this development has a significant number of large units (2- and 3-bedrooms and two-storey lofts) priced from $500,000 to $1.35million that are uniquely scattered throughout the building not just at the top of the building which are much slower to sell. Brad Lamb Realty have been throwing some sales events at some of the developments which are approaching ground breaking to sell more units before they dismantle the sales centre. Last weekend BLR did a similar sales event at Nero.

    Even though Musée is off to a slow start, I believe they are at almost 30% sold right now, it will sell well as it really appeals to first time buyers and investors looking to get a foot into the King West neighbourhood, and also young families and empty nesters looking for more space as there are a number of nicely designed and very reasonably priced 2- and 3-bedrooms which includes a parking spot and locker in its selling price.
     
    Last edited: Jun 19, 2013
    #10
  11. cokecola4ever

    cokecola4ever New Member

    Joined:
    Jun 19, 2013
    Messages:
    1
    Likes Received:
    0
    "What is also very misleading was the views depicted in the interactive touch screens which doesn't include the neighbouring Oneeleven or Six50 buildings.
    The floorplans are actually nicely designed, very efficient with no weird or awkward spaces. I can't find any floorplans online but the sales office is open to the public and they have a mountain of plan brochures as soon as you walk in."

    I've been to the sales office when they first launched. Oneeleven building was clearly depicted on their interactive touchscreen. Plus when I asked the sales representatives, they clearly told me, if you are looking for a view in this building, then this isn't the building for you.
     
    #11
  12. neuhaus

    neuhaus Senior Member

    Joined:
    May 18, 2010
    Messages:
    1,211
    Likes Received:
    180
    Location:
    Toronto
    ^^^ Strange, I fondly remembering the west views on the interactive screens having a clear view across Bathurst even on the lower floors.
    Floors 21-24 should have unobstructed views to the west as it clears Oneeleven. There should be decent views south above the 18th floor as it clears 650King and Thompson Residences.
    I was at an open house for a unit on the 12th floor at 650King (the Bathurst building side) and it had some very nice south and west views including the lake.
     
    #12
  13. nx6288

    nx6288 New Member

    Joined:
    Aug 1, 2013
    Messages:
    28
    Likes Received:
    0
    has anyone here bought a unit at musee?
     
    #13
  14. shlammed

    shlammed Guest

    As a recent Plaza purchaser at another location, I find that you get great value for your money.

    Yes, you get what you pay for meaning our building isn't the flashiest building of all time. However, all the common elements are very well built and (in my opinion) look great. The hallways are "meh" with carpet/wallpaper.

    Now, where I found that we got the more value was in the unit itself. The unit is very well built. We too weren't offered many options or upgrades but we didn't really care for any since granite and marble was standard. We also received full size washer/dryer and full size stainless fridge, stove, and dishwasher.

    The remaining finishes were great as well. Things like the doors they chose. The way the built the all glass standing shower. We have grown to really love our place.

    They've also responded very well to our warranty items.
     
    #14
    Davidackerman likes this.
  15. 01s0uljah

    01s0uljah New Member

    Joined:
    Aug 20, 2013
    Messages:
    37
    Likes Received:
    3
    I bought a unit at Musee when they had their VIP sale (Back in March/April). Paid about 550 per sqft (excluding parking), for the top unit choice on my list.
     
    #15

Share This Page