News   Nov 30, 2022
 357     0 
News   Nov 30, 2022
 1.1K     0 
News   Nov 29, 2022
 2.2K     2 

should i invest into L tower?

plugk

New Member
Member Bio
Joined
Oct 7, 2008
Messages
37
Reaction score
0
should i buy this L tower from the original buyer? should i take over it at the original price? there is someone want to sell it to me at the original price, he just want his deposit back. he brought this unit 2 years ago. thanks
 

cabbagetowner

Active Member
Member Bio
Joined
Jun 27, 2008
Messages
329
Reaction score
0
if you plan on living in it as your home then i guess it depends if you like it. if it's for an investment then i would think you could find better places to park your money than real estate right now. i know i keep saying this but condos do not make great re investments... i keep saying this on this forum so i'm starting to sound like a broken record.
 

plugk

New Member
Member Bio
Joined
Oct 7, 2008
Messages
37
Reaction score
0
How much per square feet? which floor?

in the high high floor, view of the city and lake.

the sales office currently selling at $585 per sf. at the lowest floor, no view, no parking and no locker, the one i'm planning to buy approx. at the same price per sf. but with parking, locker, views, high high floor. it is so attractive...
 

cdr108

Senior Member
Member Bio
Joined
Apr 22, 2008
Messages
4,724
Reaction score
59
in the high high floor, view of the city and lake.

the sales office currently selling at $585 per sf. at the lowest floor, no view, no parking and no locker, the one i'm planning to buy approx. at the same price per sf. but with parking, locker, views, high high floor. it is so attractive...


Are you flush with cash?

Go ahead and buy it, then give me a call when you desperately need cash and i'll offer you $.25/$1 to help you unload it. :p
 

cdr108

Senior Member
Member Bio
Joined
Apr 22, 2008
Messages
4,724
Reaction score
59
in the high high floor, view of the city and lake.

the sales office currently selling at $585 per sf. at the lowest floor, no view, no parking and no locker, the one i'm planning to buy approx. at the same price per sf. but with parking, locker, views, high high floor. it is so attractive...


How many floors are in between your prospect unit and the one's the developer is selling at $585 PSF?

Can you confirm what the price premium is per floor with same exposure, etc?

How much are the parking spot and locker costs from the developer?
 

simuls

Senior Member
Member Bio
Joined
Jan 14, 2008
Messages
1,048
Reaction score
0
Location
Downtown TO
It'll be a long long time before this is finished (if it's finished), so if you have the liquidity, then go for it. By the time it's done, you'll still be down a bit probably, but within 3-4 years you should see some nice appreciation and it's location makes it a good place to rent. Although at that price you better have 50% down to see any sort of return.
 

AKS

Senior Member
Member Bio
Joined
Aug 5, 2008
Messages
1,449
Reaction score
0
if it's facing south depending on how high you are, you might get blocked. I see a parking lot and Toronto Star building right after the railways. Not sure if they will develop that. Beside that is 18 yonge. Then there's the GO building project. And in front of them is Pinnacle buildings.
 
Member Bio
Joined
Dec 8, 2008
Messages
169
Reaction score
0
Location
Downtown
Defining Investments

should i buy this L tower from the original buyer? should i take over it at the original price? there is someone want to sell it to me at the original price, he just want his deposit back. he brought this unit 2 years ago. thanks

Plugk: what is your definition of investing? the discussion here mentions several options (buying at lower price, renting, appreciation, etc).

From my experience not all ppl think of "investing" using same terms, so what would make great "investment" for one, may not be the case for the next person looking at the same opportunity.
 

urbandreamer

recession proof
Member Bio
Joined
Apr 23, 2007
Messages
14,522
Reaction score
408
Location
renderpornstar.com
I said "no" because if you're seeking a good return, why not buy a centrally located house for a good price--say Winter 2009-2010--for 20% discount? 5 years from now, if/when L tower is occupied, it could seem tacky/dated, a product of the 00's condo boom, just like 80's condos seemed dated by 1995.

An investor tip: If you have doubts stay out!
 

plugk

New Member
Member Bio
Joined
Oct 7, 2008
Messages
37
Reaction score
0
How many floors are in between your prospect unit and the one's the developer is selling at $585 PSF?

Can you confirm what the price premium is per floor with same exposure, etc?

How much are the parking spot and locker costs from the developer?

approx. 40th floor

premium per floor approx. $1000-1500 per floor

parking $35000, locker $4500 on waiting list
 

Top