Although you've raised some good points, there are some points which make the Centrium a desirable condo.
First of all please take it easy with my 1 or 2 month prediction for the sale. It's just a guestimate. What did you want me to predict down to the number of days? I said I can see this sell out in 1 and maybe I should have said
OR 2 months. Would that have made life happier for everyone (Don't you just love these internet forums for pointless arguments
)? Who knows for sure. It may be 1 2 or 3 months. It was just a rough guess! You don't need to split hairs. Now moving to the next point.
What's the selling feature of this condo you ask if it's not better than the Gibson Square? One word.
PRICE. The Gibson Square is now selling a one bedroom (580ish square feet) for approx. $350,000 with parking. And the Hullmark down the street is at $340,000 for a one bedroom. Sure these are built by reputable builder, but a lot people tell me it's too expensive for their wallet.
Name me another condo in the Yonge corridor released in the last year that is selling at the same prices more or less than resale? Are you aware that a one bedroom resale in the Empress & Yonge area is already selling at $270-280,000 and a 1+den is about $300,000? By the time the Centrium is built the resale market will have jumped up another 30-40k easily based on the current appreciation rate in the area.
You can knock the Centrium about the lack of direct subway access, finishes that may or may not be as good, etc...but $50,000 LESS than a G.S.
one bedroom will get you a
1 bedroom and den at the Centrium. That's the selling point. to some people they can live without the direct access. The location is still very good and in the central area. It's practically next to the G.S. The subway is a 3 minute walk away. The price is so cheap that it's comparable to the resale market. There are no better price alternatives for a new condo. If someone is looking for a longer closing and doesn't want to pay $390,000 for a one bedroom with parking and den (G.S. & Hullmark feel free to double check) what choices do they have? The centrium is $100,000 less in comparision to those 2.
I think there are many good selling points about this condo. Price and location are obvious. If you don't think the Centrium is a good & cheaper alternative to the high prices, then you must be predicting that it will take long to sell? Care to estimate the time frame on how long you think they'll sell 75% of the units? Btw, when I say sell out it ment a good portion of the most desirable units, not the small percentage of units that they try to fill at the end that nobody wants.
