Toronto East Lofts Condos | ?m | 12s | Harhay | a—A

[Hypnotoad]

 

[Voice Guy]

It's Definitely Double Height

Actually, I believe the first floor IS double height like MOZO. Those supports in place are for the fouth floor if you consider the retail level two floors. From what I remember, the platform you see in the photo is the ceiling of the retail space.

I am a little dismayed by how slowly progress is going in comparison to other projects in the area that seem to be rising quite fast. The last time I drove by the lot (about 3 weeks ago) it was in much the same condition. When I first signed the contract in Dec 2005 I thought waiting 2 years was long (occupancy was supposed to be Dec 2007)....now it's closer to 4 years

Here is the Real Estate listing regarding leasing the retail space at EAST. It clearly lists the dimensions of the space.

275 King Street East, TorontoLISTING SUMMARY:

Sale/Lease: RETAIL
Floor/Unit/Available Space:

Ground Floor - 8,126 square feet

Mezzanine Floor - 2,938 square feet
Rental Rate: Negotiable

Fixturing: January 2009

Occupancy: May 2009
Term: 5 or 10 Years


LISTING COMMENTS:

Corner exposure (King & Princess Street)
Double-height ceilings (21 feet clear height)
Additional mezzanine of 2,250 square feet
Floor-to-ceiling glass
130 feet of King Street frontage
Additional Rent - $10.40 psf (approximately)
CONTACT INFORMATION:

JEFF THOMAS
Sales Representative
416.205.9222 Ext. 221
jthomas@ashlarurban.com

JASON EVDOXIADIS*

Sales Representative

416.205.9222 Ext. 223

jevdoxiadis@ashlarurban.com

* Ashlar Doxa Realty Inc. (Franchise)

 

[beaconer]

Further to that, the floor above is not the 3rd floor but the second floor, which is for lease as offices. Residence start on the 3rd floor:

http://www.ashlarurban.com/FS_275KingSt-OfficeTEST.shtml

LISTING SUMMARY:

Sale/Lease: OFFICE
Floor/Unit: 2nd Floor
Available Space: 14,735 square feet
Rental Rate: Negotiable
Fixturing: January 2009
Occupancy: May 2009

Term: 5 or 10 Years

LISTING COMMENTS:

* Private King Street lobby
* Private elevator exclusive to office tenancy
* Exclusive King Street signage
* Loading dock and shipping elevator
* Floor-to-ceiling glass
* Estimated taxes and operating cost - $11.96 psf
* Dedicated secured underground parking

CONTACT INFORMATION:

JEFF THOMAS
Sales Representative
416.205.9222 Ext. 221
jthomas@ashlarurban.com

JASON EVDOXIADIS*
Sales Representative
416.205.9222 Ext. 223
jevdoxiadis@ashlarurban.com

* Ashlar Doxa Realty Inc. (Franchise)


Legal
The information contained herein has been obtained from sources deemed to be reliable. While every reasonable effort has been made to ensure its accuracy, we cannot guarantee it. No responsibility is assumed for any inaccuracies. Readers are urged to consult their professional advisors prior to acting on any of the material contained within this report.

 

[bendit]

webcam

The webcam is back up. It appears to be attached to the crane, looking straight down.

 

[mousepotato]

webcam is useless

yeah, unfortunately from where the webcam is placed you can't really see anything. Hopefully they will realize it and find another angle to position it in

 

[bendit]

It looks like it's been rotated to show King St E on the left and Princess St at the top. We should get a better view in the morning.

 

[Sammy.March]

Anyone else notice there has been little or no progress in the last month? What is taking them so long??

 

[bendit]

There's been quite a bit of activity, they poured another floor and built some of the walls of units on the third floor.

Keep an eye on the webcam.

 

[emacs]

Anyone else notice there has been little or no progress in the last month? What is taking them so long??

construction is usually slower during the colder months.

 

[Sammy.March]

If you decrypt the legalese in the purchasing agreement, there are some limits to how many times they can delay the move in date, and for how long.

I don't think you get any compensation if any of those are exceeded, but you may get a chance to get your money back + from interest.

Curious - anyone try to get your money back+interest now that it will be delayed beyond the 18 months outlined in the agreement?

 

[emacs]

anyone try to get your money back+interest now that it will be delayed beyond the 18 months outlined in the agreement?

i don't have an answer to your question. i do, however, know of a neighbour who has a clause in his contract that allows him to sell his unit at any time (even tomorrow, if he so chooses).

 

[Sammy.March]

hmmm, I wonder how a unit at East Lofts would sell in this environment though?

 

[Yossi Kaplan MBA]

Predicting Prices of Future Projects

hmmm, I wonder how a unit at East Lofts would sell in this environment though?

Sammy,

My guess you're looking at anywhere from 350 to 500 PSF.

Remember there is no free market (i.e. MLS) in existence until registration, so units (contracts) bought and sold now between original purchasers (Assignors) and buyers (Assignees) have a relative very low comparison base therefore it's more of a negotiation and situation then "true market".

Nonetheless, new downtown condos in the area (MoZo, 230 King East) will sell for about that range (higher PSF for smaller units, lower PSF for larger ones), so East should be around in the same price range (even though originally sold for much less then 400PSF).

Does this make sense to you?


cheers yk

 

[bendit]

Does anyone have any pictures from this week, or maybe a description of what progress was made this week?

The webcam has been down all week.

 

[egotrippin]

It's almost as tall as the building directly to the west of it. I believe it's the fourth floor, moving onto the fifth that they're working on now. Either way, it looked noticeably taller on Wednesday than a week ago.