News   Nov 06, 2024
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News   Nov 06, 2024
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News   Nov 06, 2024
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$5 million condo hunt.

I am not sure that amenities, property managment and maintenance fees are really that important for those who have the wealth to purchase a $5M condo.

Likely location, unit configuration and view will be what is most important.

If I was looking and won the LotoMax last week, I would buying in the Yorkville area without a doubt. A $5M purchase anywhere else is just plain silly for a condo.

Now if it was $1-2M, then King West all the way!
 
If you had up to $5 million to spend on one unit within Toronto, which building (constructed or under construction) whould you buy into and why? Please be as detailed as possible as to why you have made your choice (e.g. location, unit size, exposure, amenities, property management, maintenance fees, etc.)

If you hate condos, please refrain from responding.

If I had up to $5 million, I would buy this pre-construction project at 500 Wellington. I personally love the location, close to everything, King West is becoming a very nice area. Only 17 suites in the building, very intimate and outstanding finishes, private elevator access,http://www.realtor.ca/propertyDetails.aspx?propertyId=8680750
 
I'll take Penthouse 602 at Cube Lofts at College & Ossington. 2 bedrooms, den, library, rooftop terrace, and all the benefits of a penthouse without the elevator problems that come with a skyscraper.
 
It'd be interesting to make a list of the [however many choices can be included in a forum poll] most expensive condos and have people vote for the best deal, the worst deal, the tackiest, the swankiest, the what-were-they-thinking?, etc.
 
Easy!
I'd combine PH units 4601 & 4602 at Casa. I'd re-design the plan with bedrooms, a workout room, den, laundry room and a soundproofed movie room in the south-east area (currently #4601). In the south-west area (currently #4602), a large, functional kitchen with breakfast area, dining room and living area. I'd choose Casa for several reasons, it's at the top of my list for favorate condo high-rises in Toronto, with good amenities and great location. I've lived in this neighbourhood for over 25 years and I love it plus I really like this section of Charles East including the wonderful chain of parkettes right next door. I can't see anything going up nearby to block views from this level and speaking of views could city and lake views get any better than from here? I also love the roof deck feature, I'd have a hot tub up there and I'd work with the developer so that we could work toward a green roof with as much green space as possible.
I would live happily ever after...
 
Easy!
I'd combine PH units 4601 & 4602 at Casa. I'd re-design the plan with bedrooms, a workout room, den, laundry room and a soundproofed movie room in the south-east area (currently #4601). In the south-west area (currently #4602), a large, functional kitchen with breakfast area, dining room and living area. I'd choose Casa for several reasons, it's at the top of my list for favorate condo high-rises in Toronto, with good amenities and great location. I've lived in this neighbourhood for over 25 years and I love it plus I really like this section of Charles East including the wonderful chain of parkettes right next door. I can't see anything going up nearby to block views from this level and speaking of views could city and lake views get any better than from here? I also love the roof deck feature, I'd have a hot tub up there and I'd work with the developer so that we could work toward a green roof with as much green space as possible.
I would live happily ever after...

marry me ... :D
 
For height... maybe an Aura sub-penthouse (fl 72-74).. this one was/is selling for $3.36 mil
http://www.collegeparkcondos.com/pdf/penthouse_floorplans/suite2u.pdf

I second Aura.

Good location, stunning views and reasonably priced for what you're getting (same finishes as Four Seasons but 40% more space for same price). Once built, Aura will be viewed as a landmark building (I think it’s underappreciated at the moment). I'm also optimistic they’ll announce 10 extra floors next year (up to 85 floors).

I would, however, combine two of these PH's to get roughly 5,000 sqft.

Best bang for your buck IMO. :D
 
Hmm.. I would first hire the services of a structural engineer.

I would buy a south-west facing penthouse unit at 633 Bay Street and see if I could buy the portion of rooftop terrace directly above it for couple million. There are some portions (like next to the stair-well) which are more private and less used than others.

The structural engineer is to determine if we can punch a whole through the roof for a stairway; and add a glassed in atrium/greenhouse with an infinity design tropical fishtank near the west wall (roughly 3000 gallons -- very heavy but possibly doable).

In the event the roof isn't structural at all, I would probably also try to increase the height of the unit to a 10 foot ceiling.


The unit itself is only about $500k. The structural changes and buying the public space would pretty easily eat up the rest.


By the way, do we get another $5M in cash in the bank to cover the maintenance fees and taxes? If those come out of pocket then I will probably just spend the next 30 years living out of decent hotel rooms in various parts of the world instead.
 

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