Project Essentials / dataBase – detailed project information, floor plans, renderings
Projects & Construction Thread  I  Real Estate Thread
Seventy5 Portland 
75 Portland St, Toronto
Developer: Freed Developments

Seventy5 Portland St (Freed Developments) - Real Estate -

Discussion in 'Real Estate - Individual Project Threads' started by Edward Skira, May 3, 2011.

  1. Edward Skira

    Edward Skira Coming Soon SRC Staff Member

    Joined:
    Apr 22, 2007
    Messages:
    8,067
    Likes Received:
    46
    Location:
    Toronto
    Seventy5 Portland St

    SPECIAL OFFER ON OUR 5 REMAINING UNITS!
    - $15k off Purchase Price
    - Free Locker
    - Immediate Occupancy, Only 5% down
    - Development Charges Capped
    - 4% Co-op Commission
    OPEN HOUSE SATURDAYS & SUNDAYS, 2-4PM

    Freed Sales Centre
    600 King Street West [Spoke Club Building] | 416.360.0600 | freeddevelopments.com
    Monday to Wednesday noon to 6pm | Thursday noon to 7pm | Friday noon to 6pm
    Saturday + Sunday noon to 5pm
    seventy5portland.com
     
    #1

  2. ILuvTO

    ILuvTO Active Member

    Joined:
    Jun 17, 2009
    Messages:
    239
    Likes Received:
    0
    Are there any owners in this building posting in this thread? Curious to hear your thoughts about the building. Workmanship, how good/bad property management is, sound proofing, overall living experience.
     
    Last edited by a moderator: May 12, 2011
    #2
  3. desmo

    desmo New Member

    Joined:
    Jan 24, 2011
    Messages:
    13
    Likes Received:
    0
    Im relatively new to the building, but I can share some experiences.

    The initial property management was, to say the least, inadequate. Hallways were dirty, things looked messy, ect... However, the entity which performed the services recently was changed, and since then, a noticeable improvement has occurred, I am much happier now.

    Workmanship, like every condo I have lived in, has been poor. Things not in square, cheap materials, cost cutting measures (the intake fans in both bathrooms are in fact a single fan, hence when once switch is turned on, both are). However, were I not doing significant upgrades, much of that would never have been noticed and would never have been an issue to me.

    Those issues aside, the building is great. The lobby has recently been upgraded with new furniture and looks fantastic. The layout of my unit is perfect for me, and this had a lot to do with my choice of the building. The courtyard is a great place to spend time and looks great. THe walls insulate ALL sound, I wouldnt know if a party is occurring in a unit next door even if I remained quiet in my unit. The staff have been great in my experience as well.

    TO sum up, Im very happy with my investment, although everyones experience may vary. If you just bought/plan to buy, just spend a lot of time investigating your unit and spending time in it. If its from the builder, my experience has been to be particularly critical, as the customer service has been poor, including mistakes on documentation, missed deadlines and the like. Make sure that you really spend time doing your PDI if its direct from the builder.
     
    #3
  4. TheKingEast

    TheKingEast Senior Member

    Joined:
    Feb 16, 2011
    Messages:
    2,606
    Likes Received:
    5
    #4
  5. ILuvTO

    ILuvTO Active Member

    Joined:
    Jun 17, 2009
    Messages:
    239
    Likes Received:
    0
    Thanks for sharing your experiences desmo! Greatly appreciated. I really like the building and location. When you were doing your research, did you ever happen to find out the % of owners to renters in the building? From what you've seen, what would you say the average age range is of the tenants/owners?

    Thanks again for your insight.
     
    #5
  6. desmo

    desmo New Member

    Joined:
    Jan 24, 2011
    Messages:
    13
    Likes Received:
    0
    I think Ill hold back on the unit I own, however, it is not a 2 level like youve shown there. That unit really is nice though, better view than mine, and those windows you mention are really unique. It must be over 1200 sq ft by the looks of it too.

    I like the building a lot too, but I appreciate that its colour schemes, shape and style are pretty polarizing. Some definitely dont like it, and thats more than ok.
     
    #6
  7. desmo

    desmo New Member

    Joined:
    Jan 24, 2011
    Messages:
    13
    Likes Received:
    0
    Glad to help! As for your question, to be honest Im not aware of the ratio of tenant to owner, but I wouldnt be surprised if the ratio is skewed towards tenants, as would many of the buildings in the area. THe reason I say that is that many of the occupiers in this area are pretty young, with the average age being in the mid-to-late 20s and 30s, and the building isnt all that cheap. The area though really is incredible, it is hard to feel that you arent in the center of the city. Restaurants, bars, coffee shops, a 24 hour grocery store being opened in October within a 5 min walk, it really does feel like you have everything you want around you. Plus, the gardiner/DVP is a 2 minute drive away.

    Ive heard, and seen, that there is a high premium associated with renting in the building though, which may imply high demand for the available units, and perhaps that is because there are fewer units to rent than the market is demanding. Check out kijiji, craigslist or even your agent, and you will see what I mean.

    As an aside, there is a lot of demand for parking spaces, with some obtaining over $200 per month in rental fee. THis may indicate also that there may be more owner's than tenants, but could also mean that there are just too few spaces. If you are buying the unit from the builder, I would pay the extra amount to have the parking, even if you dont have a car.

    Let me know if you are negotiating with the builder as well, as I can give you a few insights in how to deal with them.
     
    #7
  8. ethanhunt3055

    ethanhunt3055 Banned

    Joined:
    May 15, 2011
    Messages:
    1
    Likes Received:
    0
    Hey, what's the prices going down there......
     
    #8
  9. ILuvTO

    ILuvTO Active Member

    Joined:
    Jun 17, 2009
    Messages:
    239
    Likes Received:
    0
    I was looking at some resale units on MLS yesterday, and the ones I saw were going from anywhere between $550-$650sq ft. The smaller units had the higher $/sq ft ratio. It is definitely a pricey building.
     
    #9
  10. ILuvTO

    ILuvTO Active Member

    Joined:
    Jun 17, 2009
    Messages:
    239
    Likes Received:
    0
    Thanks again for taking the time to answer my questions! :) I really appreciate it. I will definitely get in touch if I ever get to the point of negotiating with the builder. I like the building and def have my eye on it along with some others.
     
    #10
  11. TheKingEast

    TheKingEast Senior Member

    Joined:
    Feb 16, 2011
    Messages:
    2,606
    Likes Received:
    5
    #11
  12. ILuvTO

    ILuvTO Active Member

    Joined:
    Jun 17, 2009
    Messages:
    239
    Likes Received:
    0
    #12
  13. johnr

    johnr Active Member

    Joined:
    Dec 13, 2007
    Messages:
    124
    Likes Received:
    0
    Freed is offering $15,000 off all remaining inventory, but I would wait for a resale unit that has better views. The average price in this building is about $550 psf with parking.

    Also check out 55 Stewart which offers hotel amenities but monthly maintenance fees are higher.
     
    #13
  14. ILuvTO

    ILuvTO Active Member

    Joined:
    Jun 17, 2009
    Messages:
    239
    Likes Received:
    0
    That's good to know! Thanks! :) The units I'm seeing on MLS don't say anything about including parking, and they are going for over $600+/sq ft (for the smaller units at least). Maybe something in the $550 with range will pop up soon.

    Cheers! :)
     
    #14
  15. TheKingEast

    TheKingEast Senior Member

    Joined:
    Feb 16, 2011
    Messages:
    2,606
    Likes Received:
    5
    75 Portland > 55 Stewart in pretty much every way. Trust me on this one. There's a lot of crap going on behind the scenes with 55 Stewart.
     
    #15

Share This Page