South Beach Condos & Lofts (Amexon Development Group) - Real Estate -

D-BesT said:
Just visited the sales center a few days ago, they've already broke ground.. hopefully the construction is swift. I can't wait to move in!
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Congrats! Which unit did you get?

Btw... as expected prices went up for the units in the second tower compare to the first one (some units are $30K more while others couple of Ks)... and no i don't work for the builder... i'm just a 'happy purchaser' as Solaris pointed out... :)
 
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..And Borisp, I stopped in the sales centre today on my way home from work.

A few things:

Any price increase for a new phase building like this is most likely fabricated - that is, it's not a realistic sign of market demand / improvement, rather it's just a marketing tactic.

A couple of things on the price list jumped out at me:

1) Pricing on new price list does not match the SB advertisements

2) They show a column of "Actual prices" ($10,000) more than the "Pre-Release of Finale" prices, to make it appear that there are big savings. The only problem is, this is the first time they are releasing the product, so how can they realistically show a "price now" and a "price (who knows when)?". I see the actual price as being arbitrary and it makes me a little nervous.

Anyhoo, just another point that adds some skepticism.
 
funkster... what i meant to say was that prices went up significantly on some units compared to the first tower...

i forgot to add one more detail...
The second tower (aka green tower) is going to be "fully sprinklered"... not sure if they'll do the same for the first tower... i guess they're following Aura's footsteps...
 
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Looks like some people are quite upset about the South Beach project...sounds like they are hoping it doesn't succeed. Perhaps because the two South Beach Towers will block a lot of the lake and city views of other condos going up in the area, of which names I will not mention. Anyways, the most significant price increase for the second tower were units that will directly enjoy the eastern city views and the lake. Most of the other price increases were modest, maybe 1 or 2 percent which you have to give props to the builder for sticking to their price points and not following the 5 or 6 hundred per square foot prices that are happening with other projects in the area. Beyond the Sea's prices are much higher compared to South Beach and I personally think South Beach is in a better location and has better ammenities. And no, I don't work for the builder or an agent, but I did happily purchase a south western facing two bedroom + den with parking and locker included for about $450.00 per square foot. Even if the digging is a marketing ploy...who cares, builders do these kinds of things all the time, nothing new here!
 
Yes, I am a purchaser of Iloft but I could care less if South Beach gets built or not. I am just putting together bits of information from various sources I have and everything points to BS. There's a few people in here who are excited about moving in soon (rightfully so, I would be too)..
I hope for their sakes that I'm wrong.. I know how horrible it is to have to wait.. it's just shy of 4 years for me and I've still got several months to go..

But I'm confident I'm not wrong and they are going to be in for a much longer wait than they expect.. just giving them a heads up..
 
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Wooba said:
Yes, I am a purchaser of Iloft but I could care less if South Beach gets built or not. I am just putting together bits of information from various sources I have and everything points to BS. There's a few people in here who are excited about moving in soon (rightfully so, I would be too)..
I hope for their sakes that I'm wrong.. I know how horrible it is to have to wait.. it's just shy of 4 years for me and I've still got several months to go..

But I'm confident I'm not wrong and they are going to be in for a much longer wait than they expect.. just giving them a heads up..
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Thanks for the heads up, but I'm in it for the long haul and I don't mind waiting for this one to get built. What specific things are your various sources saying if you don't mind me asking? Btw, I'm happy for everyone that purchased a condo in this area, including ILoft, California, South Beach, Waterscapes, and Beyond the Seas. I think all these condos are going to help gentrify this area immenstly, and with all the retail and new parks going in, should add great value to everyones investment. Also, you never know what other condos will pop up when you purchase in an area like this. For example there is a project just to the east of park lawn and lakeshore owned by Chestnut Hill and just to the south of South Beach owned by Menkes that could potentially block some of South Beaches city and lake views if they decide to go ahead with condos in the future....none of us are immune!
 
Funkster said:
$450 psf? That's fairly expensive for the area IMO.
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I'm not including the 250 square foot wrap around east/south/west balcony in my calculations and the parking and locker that were included. I know it's not taken into account when doing the math, but it was a selling feature that I took into consideration when I bought. If you include this in the price per square foot it works out to be about $360 per square foot. Also I did a lot of research and both pre-construct and re-sale condos over 1000 square feet are fairly expensive in this area.
 
You shouldn't count the balcony space in the psf. Parking and Locker shouldn't really be counted either, however those are two material items that can be compared to other projects. I can assure you that the parking and locker that's "Included" has been worked into the end price.
 
Funkster said:
You shouldn't count the balcony space in the psf. Parking and Locker shouldn't really be counted either, however those are two material items that can be compared to other projects. I can assure you that the parking and locker that's "Included" has been worked into the end price.
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Yes, I realize that the balcony shouldn't be included in the price per square foot, but it was a factor in my purchasing decision. I agree that the parking and locker were worked into the end price, however if you take the cost of both of these items off the price, then the price per square foot is less. If I decided to buy another parking spot it would raise the price of the unit, and therefor raise the price per square foot as well....agree?
 
Yeah. It's good you got a unit with a wrapped balcony. When I looked at the floorplans, I was surprised to see most balconies were interior / had slab walls on both sides. I'm sure this project will be stunning once complete.
 
Funkster said:
Yeah. It's good you got a unit with a wrapped balcony. When I looked at the floorplans, I was surprised to see most balconies were interior / had slab walls on both sides. I'm sure this project will be stunning once complete.
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Yeah, the four corner units will have the wrap arounds and no walls to obstruct the views. The other balconies will have the slab walls on both sides, not a particulairly smart building design when trying to maximize the lake and city views. I even told one of the sales agents that this wasn't a very smart move and she just kind of looked at me strange.
 
I walked away from a unit of 648 sq feet which cost $501 psf.. I find SB is a bit too much even compared to properties right at Marine Parade Drive.
 
tortoro said:
I walked away from a unit of 648 sq feet which cost $501 psf.. I find SB is a bit too much even compared to properties right at Marine Parade Drive.
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That is the biltmore and the reason it is selling for more than other units is because of the eastern exposure that will have the toronto skyline view. It starts at $460/sq.ft and goes up $1500 per floor. In comparison you also have a 659 square foot unit (the avalon) that starts at about 258k which calculates to about $391/sq.ft. However you'll have a partial lake view and no city view with the north/west exposure. So you can find a bigger unit for much cheaper without the lake and city view. The builder is charging a premium for the east and south facing units.
 
Yea, I picked the Biltmore Green Tower at level 15 for $501 sq feet, at that price I'm extremely concerned with the new towers being built on Marine Parade Dr. and Lakeshore. If those 2175 Lakeshore condos with 35 stories etc getting built, good luck to my water view, it'll block my view of CN tower as I'm actually facing NE, not S or SE...

At $501 / sq feet I would rather choose other units that are closer to the water...

T715 from Waterscape with S exposure. At level 7 it's going for $489/sq ft.
If I remember it right there's a PH4 unit on 58 Marine Parade Dr. priced at approx 466 sq ft.
Success 1, Pinnacle unit 810 SW exposure at $426/sq feet
Panaroma S facing 22 floor if I remember correctly also is less than $500/sq ft.
Maybe it's just me, but comparing the water views, SB charging the most, but also most prone to future developments blocking its view.
 
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