Neptune Condos at WaterParkCity (Lifetime, Lanterra Developments) - Real Estate -

[Kevin86]

Neptune - Phase 1 & 2

I was just wondering if someone knows about the delays in construction of Neptune Phase 1 & 2 and the reasons. Any idea about the expected occupency date of the both.

 

[Panda]

Neptune 2

Hi Everyone,

I'm considering an assignment purchase of a 1B+D unit in Neptune phase2 and owner is asking for $35k premium on their 2007 purchase cost.

Does anyone have any feedback on this?

Any and all advice will be appreciated.

Many Thanks!!

 

[kcc0]

I would be happy to review your anticipated purchase. I am a Realtor working this area for many years. No obligation for you. Just willing to help in any way that I can.

 

[Kevin86]

I know there are more knowledgeable and experienced people on this forum which can shed some more thoughtful light on this. I personally think that 2007 prices were a little bit less than the market at that time, and $35k sounds like a reasonable premium.

By the way, phase 2 has been delayed and may not be done before spring/summer 2011.

hope it helps.

 

[Condo George]

What floorplan and floor ?

 

[TorontoMike$$]

Prices in the area are approximately 500 a foot on average, so if your assignment is priced anywhere between 450-460 a sq foot you should be ok. Depending on the unit size, layout and floor. Keep in mind you will have to pay the closing costs as well. Also keep in mind if the orig
deal was signed before Jan 31 2007 there is no Toronto Land Trans tax. If after you will have to pay this as part of the closing costs which should run you 10-15k (depending on the orig purchase price if ur an end user.

 

[Panda]

What floorplan and floor ?

It's an Apsley on 9th floor. I think it's about 608 sq ft.

 

[Kevin86]

I agree, it's good downtown-cn tower view.

My only concern would be the Gardner Expressway. I don't know how close that building will be to GE but my feeling is that it will be very close. and one's head may start spinning due to fast traffic, if standing in balcany.

 

[Panda]

I know there are more knowledgeable and experienced people on this forum which can shed some more thoughtful light on this. I personally think that 2007 prices were a little bit less than the market at that time, and $35k sounds like a reasonable premium.

By the way, phase 2 has been delayed and may not be done before spring/summer 2011.

hope it helps.

but someone I know just told me exactly the opposite. they say that prices have not gone up (for my scenario) and 35k is too much to pay on the assignment. Their logic is that 2007 prices were high and at that time even the pre-construction prices are still too high...basically the suggestion is that I should not pay more than 5k premium on the original price.

Now I'm confused

Any help?

I don't know where to search for assignment sales to get some idea of the prices in that area. I have not found anything on MLS. Any suggested websites where I can find assignments for sale.

Thanks everyone for their comments!!!

 

[cdr108]

but someone I know just told me exactly the opposite. they say that prices have not gone up (for my scenario) and 35k is too much to pay on the assignment. Their logic is that 2007 prices were high and at that time even the pre-construction prices are still too high...basically the suggestion is that I should not pay more than 5k premium on the original price.

Now I'm confused

Any help?

I don't know where to search for assignment sales to get some idea of the prices in that area. I have not found anything on MLS. Any suggested websites where I can find assignments for sale.

Thanks everyone for their comments!!!

use google ... it's a great search tool.

also, here are some:

http://toronto.en.craigslist.ca/sea...reviation=rea&minAsk=min&maxAsk=max&bedrooms=

http://toronto.kijiji.ca/f-neptune-...ywordZneptuneQ20assignmentQQisSearchFormZtrue

 

[tor_gold]

just got letter in the mail....condo occupancy delayed to Dec 30th 2010.

 

[Kevin86]

just got letter in the mail....condo occupancy delayed to Dec 30th 2010.

For phase 1 or 2?

 

[Solaris]

just got letter in the mail....condo occupancy delayed to Dec 30th 2010.

For phase 1 or 2?

I believe that is for Phase 1 ...

given the construction progress of Phase 2, I can't see it possibly being ready for December 2010

12 June 2010:

 

[Kevin86]

I agree that just by looking at the progress it doesn't seem like to be completed by December. But all I have from them "in writing" is October 2010for phase 2. They haven't changed the date yet. i called them but they said, they can't confirm any change in timeline.

 

[Condo George]

Letter from developer came in today, allowing the sale of the unit ( assignments ) to be listed on mls, in the past Lanterra did not allow the listing on mls. This is a good thing, as most sellers usually wait till final closing to sell and the month of brings the most supply. Now, hopefully sellers will list and sell and the period immediately after final closing will not have many units.