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1 Bloor East, DEAD AND BURIED (Bazis, -2s, Varacalli)

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There appear to be a few unusual practices with Bazis but keep in mind that people who buy a new property in Ontario have their deposits held in trust, so it's reasonable to assume things are on the up-and-up in that regard. What is happening at 1BE is a bit of a puzzle but if people are willing to pay those prices at that location, then the market has spoken.
 
Developers hold back units all the time for later sale (a sale in stages). I am not quite sure why there is no much idle fear and speculation about this project.
 
asiancolossus said:
I gather you are a skeptic then caltrane? If 1 Bloor is a failure, it will first manifest in Crystal Blu, as they won't be able to get that one off the ground. I am just playing devil's advocate. Other than them being new and having questionable sales ethics, there hasn't been concrete proof that they are not legitimate builders.
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a/c don't worry. I was just putting the previous posts into my own caltrane perspective.

I'm not a doubter of this project at all, and wonder where all the negativity about the project is coming from. I mean if people wanna get in line for a week to buy a condo from these guys, they must be doing something right. If some millionaire who has probably never set foot in Toronto wants to give these guys 25 Million Dollars. Good on them'. Don't hate, Celebrate. Celebrate that international developers want to do business in Toronto and bring with them foriegn expertise and international customers willing to sink billions of dollars into the Toronto economy. Your average Torontoian will not be the one purchasing a 400 ft condo at 500 000 dollars anyway. So if a few brokers are pissed off, who cares. Eventually they will be the ones clammering to get in with the developers of this project because it means dollars in their pockets. Every project, everytime, every post; it can't be done in Toronto, this project sucks, nothing new and always the same. Wait and see, is my approach, at least until facts can back up statements.
 
After some facebook messaging with some of those in the lineup at 1 Bloor East I realize just how "smart" Bazis is; the entire thing was a marketing stunt with insiders and friends of the developers joining in to hype the project. If the Press had ignored the entire thing would any inflated prices occurred?

Since Bazis is a private company no one will really know the truth....Especially with those Russkies in charge. The world is divided into two camps: those that swallow the (Russian) Kool-Aid and those that don't. Having witnessed first hand Russian "business" practises I do know where my money is staying. However, they'll probably build this project anyway--the white (russian) elephant on Bloor St! I just hope it doesn't fall down....

It's a pity Canadian's don't have the balls to be bold visionairies when it comes to architecture; relying on foreigners and shady (clever?) marketing stunts is embarrassing.

It's gonna be an interesting 5 years 'til the thing is complete.
 
Even though 1BE increased prices and played game with their agency community, we can not deny that they are successful in sales.
On this Saturday, Nov 24, the released roughly 30 units goes very quick. I stayed a little while and I saw a couple of more units were marked RED.
I believe market is the best answer. There is some people who would like to pay the price to get a unit in this building, this caused the increased price become reasonable.

Toronto condo market still looks very active.
I don't know how many buyers will live in the building and how many buyers for investment only.
My only concern is if too high percentage of pre-construction condo buyers are investors, that might be not good in the long run.
 
Yeah I shouldn't attack ALL Russians. Afterall, I'm part Russian myself:)

It's a tall building. Its architecture could be better--Peter Clewes where are you? It could be bolder.

Otherwise, I'm just a lazy armchair critic. (Sorry for being so controversial I am also investigating a Russian stock market scam that's got me in a foul mood...:(
 
yorkville said:
Even though 1BE increased prices and played game with their agency community, we can not deny that they are successful in sales.
On this Saturday, Nov 24, the released roughly 30 units goes very quick. I stayed a little while and I saw a couple of more units were marked RED.
I believe market is the best answer. There is some people who would like to pay the price to get a unit in this building, this caused the increased price become reasonable.

Toronto condo market still looks very active.
I don't know how many buyers will live in the building and how many buyers for investment only.
My only concern is if too high percentage of pre-construction condo buyers are investors, that might be not good in the long run.
Click to expand...

Hey yorkville, when you said in your earlier posting that the "others were gone" does that mean they only had 30 units left? That doesn't quite make sense, that would mean that over 90% of the units are gone. As posted by others on the board, it seems to be policy for the new developments to hold back units that previously were unavailable to become available later on. I wonder, is this the public selling phase now? The elevated prices may be because these units that are left are the more expensive ones on the higher floors so its hard to extrapolate how much the prices have gone up. It would be informative to actually look at the revised price list.

I have a feeling 50% of the buyers are investors. And they probably have a high rescind rate of the new buyers.
 
Out of curiosity I went to an appointment sales thing today...

It appears that there's not much left (according to their sales board) and prices have indeed gone up by at least $100,000 since I was offered a chance to buy one month ago at a pre-pre-pre sales stunt.

Some examples of what they're asking now:

1 bedroom, 37th floor, east view, 595 sq feet = $591,000.00

2 bedroom, 62nd floor, north east view, 830 sq feet = $843,900.00
(same unit, but a south east view = $949,000.00)

2 bedroom + family room + library, 76th floor, north west view, 1560 sq feet = $2,299,900.00

The coolest part was the animated video they were playing showing what 1 Bloor will look like in its surroundings (hopefully it will be on their website sometime soon).


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I also like the model. I think the tower is kind of interesting. It isn't at all timeless however. Students of architecture in the future will probably be able to pin-point it's construction date to within 5 years.
 
Thanks for the pictures of the model.

What is the white paneling on the east and west face of tower going to be made out of?

Is that concrete balconies on the north and south side of the building?
 
It is registered preview by appointment this week, not to public yet.
On Nov 24 (yesterday), from their sales board, from what the sales guy said, all other units are sold out.

They only have 30 + units left. Two or three under 60 floor, all others are from floor 61 to 79.

The North east corner Passion 1105 (830 sq ft) was Floor 61 - $840,900 and Floor 62 - $841,900
Today they have new price $843,900 for this unit on Floor 62. (up $2000 from yesterday)

The bigger one Dream 1940 (1560 sq ft) Nothe West corner unit floor 76 price was $2,199,900 yesterday and it is $2,299,900 today. (up $100,000 from yesterday)

Yes, it looks the prices increased $100,000 - $200,000 for small units since their pre inner sales (much more for bigger units and higher floor).
 
Thanks casaguy for the update! Were those pictures taken from today? Seems like there is still a lot of interest. Amazing about the prices...I too would have preferred a southern exposure of the downtown and lake, but 100K difference? Amazing! Were the southern units more expensive to begin with? I'm so excited even hearing about this condo. Even though its out of my price range, I think if it goes through, it'll be awesome!
 
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