Charlie Condos (Great Gulf Homes) - Real Estate -

Hi everyone,

Does any one have any opinions on this building ? I like the area, and the finishes of this project are great! ! I went into the sales centre a few days ago and the have a:
Denim unit
780 sqf
15th floor east facing
1 bed + den/ 2 baths
for $416,000,00 ...and parking is another $38,000

Great Gulf, I've been told is a great builder! I believe the Hudson is A GG building as well and apparently re-sale in that building and the finishes are superb !
 
Luca said:
Hi everyone,

Does any one have any opinions on this building ? I like the area, and the finishes of this project are great! ! I went into the sales centre a few days ago and the have a:
Denim unit
780 sqf
15th floor east facing
1 bed + den/ 2 baths
for $416,000,00 ...and parking is another $38,000

Great Gulf, I've been told is a great builder! I believe the Hudson is A GG building as well and apparently re-sale in that building and the finishes are superb !
Click to expand...

That particular unit was priced $421 K on Oct 8, 2009. I guess they reduced the price a bit.
 
At $622/ft after parking and closing costs, that's a ridiculous price. You might get that right now in this over-heated market, but I'd seriously consider the fact that you'll be looking at much higher mortgage rates when completed which will also be affecting resale value. If this maintains this value over the next 5 years, you'll be fortunate. Also, only about 35% of the building has any view and much of that will disappear soon enough.
 
Thanks for your reply ! Well I'm thinking that with Festival Tower and M5V going up within blocks, Charlie might be a good investment still even tho it seems steep! The amount of redevelopment happening in the area is amazing. In terms of price, Charlie is pretty relative to M5V. And I believe the resale value of The Hudson is excellent. I do know that at X2, the Hays layout is very smilar , but its 742sqf , and its priced from $380
 
At least you can buy parking, M5V won't even let you buy parking unless you live in a 2 br unit.
 
Charlie Condos

Hi everyone, I'm thinking of purchasing a condo in Charlie (I posted a while back)...does anyone have any thoughts about this building/project?..I live in Oakville now, and plan on purchasing a 1+1. Anyone familiar with the builder and the area ? Is it worth it !!! Sorry for rambling on lol.
Thanks
 
Great building, location, and all, but not much in terms of choice of units at this stage.
 
Very true.....the only have 15-20 units available at this point ! At this point, I guess I'll chek out M5V as well...I'm sure the prices are very comparable considering they are bother at King and Blue Jays way!
 
As a value-oriented investor, I think that an appropriate range for a pre construction unit in the core should be 500 - 550 psf, if you want any hope of an upside when interest rates rise, and the market cools off a bit. Most projects are really much higer on a psf rate.


I do think that projects in the core are generally a good buy. But its getting tougher to find value. Charlie will be in the midst of a really hot area, when built out. I think that you might look back one day and think you missed a good deal.
 

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CO - are u suggesting that Charlie is perhaps one of the better deals in terms of price and location compared to what eles is available in the core ? I decided to check out what was available at Charlie last week. I was looking at a Denim suite ! 781sqf/15th fl/ 1+1/ east exposure ! The price had totally jumped from last summer . That suite is going for $443,000! I think thats a little too pricey! The ROI would be tough to
re-coup. I'm sure others got in cheaper during the ression! However I do agree that in 3 yrs that location will be supper hot with all the investment going on !
 
Some rprices I obtained today:

Denim Suite 781 sq 8th fl - $409,990
15th fl $469,900
35th fl $ 504,990

Damask 970sq 13thfl $430,000
 
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