Toronto King Charlotte | 114.9m | 32s | Lamb Dev Corp | a—A

ahmad.m.atiya said:
Sorry for being off topic, but does anyone know if anything is happening on the corner of Charlotte St and King St? There is currently a parking lot there.
Click to expand...

maxcity said:
No there isn't.... unless you're talking about the Charlie site which is very under construction.
Click to expand...

Therion said:
Google Maps is several years outdated.
Click to expand...

ahmad.m.atiya said:
Thank you! I assume that the parking lot has been replaced by something mid-rise?
Click to expand...

Ahmad - Maxcity already identified the lot you are talking about. Charlie is a 36-storey condo currently under construction at the northwest corner of King & Charlotte. It's at ground level now. You can read about it here.

42
 
^^^ you must be kidding.
The project hasn't been lauched yet and it's 50% sold?!

Looks like another project being hyped with phantom sales (just like Theatre Park).
 
RE: phantom sales: Someone was telling me that Lamb's MO is to pre-sell a whack of units to his friends, use those deposits to get financing, then use the financing the buy back his friends (with a nice profit for all) and re-release the units. Something along those lines, anyway.
 
BobBob:

I assume he would need to use the financing dollars to build the project, as opposed to paying back his friends? The lenders in this industry are pretty tight when it comes to where their funds are going, they have independent project monitors that look at where the money is spent and do not allow the developer to take further draws unless the project is progressing on schedule.

Perhaps Lamb is providng them with a guaranteed return in exchange for purchasing early, I don't know?
 
That's not true. The point here is simply that he is not only a developer, he is a broker too, with a very good group of agents. All his projects are released to their agents several months prior the "oficial launch" and even before the project gets approval from the city. For example Theatre park was released in November 2009 with an average price of $550 psf, now he is selling at $700 psf. He has a very good group of wealthy investors and they buy multiple units. I don't think we have panthom sales here
 
What I know is that some developers own investment groups and they buy all the small units for themselves on behalf of the investment group and then they put them on the market once the project is completed, In that way they sell the units quickly to get financing, but at the end of the day they are still keeping the units to sell them a higher prices once the project is completed
 
carturo15 said:
That's not true. The point here is simply that he is not only a developer, he is a broker too, with a very good group of agents. All his projects are released to their agents several months prior the "oficial launch" and even before the project gets approval from the city. For example Theatre park was released in November 2009 with an average price of $550 psf, now he is selling at $700 psf. He has a very good group of wealthy investors and they buy multiple units. I don't think we have panthom sales here
Click to expand...

This.
 
In regards to King Charlotte, two of my friends got a unit each there. Prices are $520-$570/sqft units are 400+sqft, One of them got a 450sqft unit.and the price was below $530/sq ft

This was 4 months ago.
 
Last edited:
saw the floorplans and they are pretty well laid out. the prices i saw were HIGH $500 psf. if someone said 50% are sold out i dont doubt it. BL Realty gets first dibs to sell these before public launch - which is soon.
 
The Broker Launch is scheduled for March 8th with a 1bd room priced at $241,000. Interesting to see how many 1 bd floorplans are available come Tuesday.
 
The sales centre for this project and for Theatre Park is being set up at 11 Charlotte.
 
You must log in or register to post here.

Back
Top