Seventy5 Portland St (Freed Developments) - Real Estate -

TheKingEast said:
75 Portland > 55 Stewart in pretty much every way. Trust me on this one. There's a lot of crap going on behind the scenes with 55 Stewart.
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Can you elaborate at all, I've heard rumblings similar to what youve implied, but I'm in the dark a bit. A PM would work if you don't want to publicly share.

The prices at 75 Portland seems to be stabilized. I think most of the excess inventory, of the 5 that remained, are sold as well, with 1 or 2'left.

Also just to clarify, the sales people at the sales office were great with me, I found them honest, clear and good to deal with. The administrative elements of the deal however were not up to the same standards, or so my lawyer said.
 
TheKingEast said:
75 Portland > 55 Stewart in pretty much every way. Trust me on this one. There's a lot of crap going on behind the scenes with 55 Stewart.
Click to expand...

I'd be curious to hear more about 55 Stewart. If you could also flip me a PM it would be greatly appreciated. :)
 
Within past two weeks I've noticed more units at 32 & 55 Stewart, and especially at 75 Portland, appearing on MLS web site.

(32 Stewart I can understand bailing, as Thompson Condos are underway beside the building). :eek:
 
Stratford1 said:
Within past two weeks I've noticed more units at 32 & 55 Stewart, and especially at 75 Portland, appearing on MLS web site.
(32 Stewart I can understand bailing, as Thompson Condos are underway beside the building). :eek:
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Prices have been moving up compared to last year. I think some investors are still unloading their inventory. A couple weeks ago, a 55 Stewart unit was sold for over $1.6M or $700+ per sq. ft.

75 Portland recent sales:
No Parking, courtyard units
Unit 521 - $280,000 - $590psf
Unit 605 - $350,000 - $601psf
Unit 425 - $390,000 - $532psf

55 Stewart recent sales:
With Parking
Unit 403 - $420,000 - $600psf
Unit 530 - $466,523 - $570psf
Unit 322 - $640,384 - $615psf
Unit 1001 - $1,650,000 - $705psf
 
That is helpful. I can also name four 55 Stewart units that are priced reduced as seen on MLS. I have a list....
Either investors selling, or residents do not like living there.
 
Stratford1 said:
That is helpful. I can also name four 55 Stewart units that are priced reduced as seen on MLS. I have a list....
Either investors selling, or residents do not like living there.
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There are a lot of issues with 55 Stewart and hence a lot of displeased owners. I just can't get over the maintenance fees.
 
Yes there are a few units that are priced too high. One seller is asking $459K for 641 sq. ft. with parking ($716 psf).
I think we are still a few years away before the neighbourhood can support over $700 psf, but prices are slowly creeping up.
Keep in mind these 641 sq. ft. units cost only $256K during pre-construction.
 
johnr said:
Prices have been moving up compared to last year. I think some investors are still unloading their inventory. A couple weeks ago, a 55 Stewart unit was sold for over $1.6M or $700+ per sq. ft.

75 Portland recent sales:
No Parking, courtyard units
Unit 521 - $280,000 - $590psf
Unit 605 - $350,000 - $601psf
Unit 425 - $390,000 - $532psf

55 Stewart recent sales:
With Parking
Unit 403 - $420,000 - $600psf
Unit 530 - $466,523 - $570psf
Unit 322 - $640,384 - $615psf
Unit 1001 - $1,650,000 - $705psf
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johnr said:
Yes there are a few units that are priced too high. One seller is asking $459K for 641 sq. ft. with parking ($716 psf).
I think we are still a few years away before the neighbourhood can support over $700 psf, but prices are slowly creeping up.
Keep in mind these 641 sq. ft. units cost only $256K during pre-construction.
Click to expand...

Thanks for posting the selling prices of those units. Greatly appreciated! A few days ago there were two 475 sqft units for sale on MLS and one of them is now gone. Would you happen to know if it sold, and how much it sold for? Thanks! :)
 
johnr said:
Yes there are a few units that are priced too high. One seller is asking $459K for 641 sq. ft. with parking ($716 psf).
I think we are still a few years away before the neighbourhood can support over $700 psf, but prices are slowly creeping up.
Keep in mind these 641 sq. ft. units cost only $256K during pre-construction.
Click to expand...

I was looking at that unit for $459k. It is on the 10th floor facing north. It was advertised as a "Penthouse Collection" unit eventhough it is not located in one of the three towers of the building.
It was a nice unit but priced $100k more than an identical unit with no parking a few floors below, and priced almost $100k more than a unit of the same size across the street at 32 Stewart with parking.

So at 55 Stewart Street they are including exterior space to calculate maintenance fees? I didn't think exterior space would be counted.

Back to 74 Portland:
I am wondering what it is like to live in one of the courtyard units? The courtyard barely measures 30 feet wide and you look directly onto your other neighbors. Does it get any direct sunlight? Does it get noisy?
Just curious to see the price difference between the courtyard and non-courtyard units.
 
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ILuvTO said:
Thanks for posting the selling prices of those units. Greatly appreciated! A few days ago there were two 475 sqft units for sale on MLS and one of them is now gone. Would you happen to know if it sold, and how much it sold for? Thanks! :)
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That unit was sold for $280K. I find that the larger units offer better value since you can get $600psf with parking and they are usually upgraded.
 
Prices have jumped in Freedville due to very high demand.
2 more 475sf units went on at market at 75 Portland and sold for $282K and $300K ($631psf without parking).
other sold units with parking:
Unit 409 - $455k, $620psf
Unit 319 - $560k, $607psf

55 Stewart is seeing high demand, especially in higher end units:
Unit 818 - $389K, $608psf without parking
Unit 507 - $625K, $542psf
Unit 439 - $655K, $630psf
Unit 314 - $845K, $670psf (1262sf, 1 day on market, 100% price)
Unit 824 - $925K, $630psf (1468sf, 2 dom, 100% price)

Looks like resale prices are catching up to new developments.
 
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