Toronto Burano | ?m | 48s | Lanterra | a—A

According to the rendering it is. Their is a really good rendering in this edition of Condo Guide.
 
Any idea how sold out the building is?

Do you think this will sell as quickly as L Tower? Which do you think is the better investment between the 2 of them?
 
Condoleeza said:
Do you think this will sell as quickly as L Tower? Which do you think is the better investment between the 2 of them?
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Hard to say for sure without knowing the pricing but I have a hunch it'll sell quickly.
 
Meh, another glass tower but street level sure looks creative and exciting from the rendering.
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Toronto's skyline north of Queen is still dominated by concrete slabs and tacky 80s buildings. The Spires and Radio Citys of Toronto look amazing in comparison. I love designs like the L Tower but I'll take a lot more glass boxes too.
 
That base/lobby area is intriguing...is that a 2-3 storey mural encased in a huge glass box next to a huge blue wall?
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An oversized artwork created by artist Sandro Martini from Burano, Italy is planned along with "majestic" columns to define the lobby's gallery inspired space.

The tower is planned to include 458 units - it would be interesting to add up all the planned and recently built units in the immediate area (Met 1&2, RoCP 1&2 + Aura, Lumiere, Murano 1&2, Burano and the St. Mike's development).
 
Beyond the glass box part, will any of the street level portion of the building be for retail or non-condo use?
 
Any scoop on how the agents preview went last Tuesday?
 
J0n0001 said:
First phase of 100 units sold out in one night from what I understand at $550 PSF...
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I think that's more the extreme end of the scale. The price can be that steep but it depends on the exposure and height of the unit. I bought a corner unit with NW exposure on a fairly high floor and paid about $450 PSF. I think on average most units were priced under $500 PSF.

I believe there was a VIP sale before hand. On the day of agent's sale last Tuesday they told us about 100 units had already been sold. A ticketing system was put in place and my agent waited in line for a few hours to get a numbered ticket. There were some other agents that camped out the night before. I can only describe the sale as a real mad house. At the end of the night not many units were left. I went to the sales office today and there are only 2+1 and 3+1 units left (these are priced starting from around 500k).

Pricing during the agent's sale was about 10K less per unit, with parking at 30k and locker at 4.5k

Pricing for the public sale today is at 33k for parking and 5k for locker.

When I bought a unit at Murano across the street 2 years ago I was given an 8k upgrade allowance. No upgrade allowance was offered to me at Burano.
 
I sometimes wonder: what's the point of even selling to the public if agent's get the best suites? What's the point of even having an opening? Developer should just call all his buddies and say--hey got these 400 units who wants in. Seriously, the major reason I will never buy a condo is I hate the buying process. First, I can't stand agents. Second, I hate paying more money for a box than I know it's truly worth (having both worked on construction sites in the past and knowing a few smaller contractors, I know the real "wholesale" value of the units.) I prefer buying in a neighbourhood/city where there's more units for sale than demand. East Hamilton for example?

Now yes it's fun to watch new attractive buildings go up downtown; but seriously, the buying/selling process is absurd and old fashioned.
 
you would really hate Vancouver then
 
How are sales going?

Does anyone have any info on how sales are going and what the prices are? Have they increased since the offering went to the public?
 
Sales have been very strong - prices increased between the broker preview (about 50% of units sold then) and the public offering. Not many units are left.
 
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