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Britt Condos, The 
955 Bay Street, Toronto
Developer: Lanterra Developments, Dov Capital Corporation


Britt, The (Lanterra Developments) - Real Estate -

interchange42

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Thread for purchasers at The Britt Condominium, the makeover of the Sutton Place by Lanterra Developments.
 

HelloToday

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Current phase 1 offers:

- Podium Suites : 6% CASH BACK
- Tower Suites : 3% CASH BACK
- FREE Assignment Fee
- Up to $28,500-$55,000 OFF the "Suite of the Month" Units
- 2 YEAR RENTAL GUARANTEE on selected suites ($1,420 TO $2,400 PER MONTH)
- 2 Years of FREE MAINTENANCE on all 2 bedroom suites
- As little as 10% down payment
- Extended Deposit Structure (20% in 450 days)
$2,000 on signing
Balance to 5% in 30 days
5% in 120 days
5% in 270 days
5% in 450 days


Looks like they're really looking to move units - sign of market saturation?
 

TheKingEast

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Current phase 1 offers:

- Podium Suites : 6% CASH BACK
- Tower Suites : 3% CASH BACK
- FREE Assignment Fee
- Up to $28,500-$55,000 OFF the "Suite of the Month" Units
- 2 YEAR RENTAL GUARANTEE on selected suites ($1,420 TO $2,400 PER MONTH)
- 2 Years of FREE MAINTENANCE on all 2 bedroom suites
- As little as 10% down payment
- Extended Deposit Structure (20% in 450 days)
$2,000 on signing
Balance to 5% in 30 days
5% in 120 days
5% in 270 days
5% in 450 days


Looks like they're really looking to move units - sign of market saturation?
Both. People I talk to are unwilling to buy condos now. It's not like before where everyone was doing all they could to buy one. They're a lot less affordable now. It's good to see these incentives though....but too little too late.
 

TorontoMike$$

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The builder launched at $800 a foot and flopped the launch. They adjusted with incentives to get some suites in the 650-725 per foot range and blew out a good part of the building. The remaining suites are at about 800 per foot in the tower and 725 + per foot in the podium.
 

cdr108

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will this be covered under tarion as parts of the building is a conversion and not new construction.
 
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TorontoMike$$

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From what I understand the building is not covered under Tarion warranty. Lanterra is providing a 2 year warranty. I would have concerns about purchasing in a building not covered under Tarion. There would be no governance process or anything to keep the builder honest. Some builders it is not necessary because of their commitment to service....
 

VoicesCarry

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The builder launched at $800 a foot and flopped the launch. They adjusted with incentives to get some suites in the 650-725 per foot range and blew out a good part of the building. The remaining suites are at about 800 per foot in the tower and 725 + per foot in the podium.
Ridiculous prices. This is going to be one disaster of a building if it's ever finished.
 

TorontoMike$$

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Totally agree with you!
The resale market in Toronto will not pay $800 a foot for that type of product
 

neuhaus

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Yes, there are a lot of studios here, and the majority of the units are under 575 sq.ft. Even a 2-bed+den 2-bath model is squeezed into 750 sq.ft.

At $800/sq.ft. or even $650/sq.ft. you would expect lots of excellent features and finishes for the suites, but they are not that much different than most other condos. And many units have 8' ceilings.
 

VoicesCarry

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They updated the banner on the south-facing facade.

Of note:
-70% sold
-"Construction start" - but no start date noted LOL. The website says "construction underway". Really - where? They have nothing going on at the site.
-"Condos from the $270's" (Previously it was "from the $300's", so they appear to have dropped prices on the smallest units.)
 
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CN Tower

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They updated the banner on the south-facing facade.

Of note:
-70% sold
-"Construction start" - but no start date noted LOL. The website says "construction underway". Really - where? They have nothing going on at the site.
-"Condos from the $270's" (Previously it was "from the $300's", so they appear to have dropped prices on the smallest units.)
Would love to see this one flop and revert back to a Sutton Place hotel.
 

955 Bay

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Any other 955 buyers received another delayed occupancy notice? My unit has been postponed to 2020.. What a terrible company.
 

955 Bay

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From what I understand the building is not covered under Tarion warranty. Lanterra is providing a 2 year warranty. I would have concerns about purchasing in a building not covered under Tarion. There would be no governance process or anything to keep the builder honest. Some builders it is not necessary because of their commitment to service....
You were right, they've abruptly delayed my occupancy date to July 2020. And it is not covered under Tarion, I'm not even eligible for any sort of compensation.
 

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