Actually, you need about $200,000 in cash to deposit over the next year--based on downpayment plan. $140,000 for down payment plus $50,000 for the parking+locker.
Let's face it, the residents in this building will all be millionaires because unless you've got over $3 million dropping $200,000 doesn't make much sense--for example, the Lamborghini dealership told me the average Lamborghini owner has a net worth of $10 million.
So all those people at the sales centre have got to be relatively rich--Caltrane do you wanna crash the joint with me to hit on lonely divorcee's? Or bored rich housewives?
Now here's another way you can afford the larger units: you're a middleclass professional from somewhere and you buy a unit to either rent out to a large family of immigrants (5 working people in a large 2 bedroom? Yeah it's quite common on those big condos on the waterfront) or you have some of your relatives move in--perhaps your family just off the boat?
Another sobering fact: that (sky?) lobby is boring! How depressingly sombre and conservative. X Condo around the corner is much more sophisticated, cheaper and better designed.
Are there that many millionaires around Toronto?