Nobu Toronto execs say they're not concerned about real estate bubble
TORONTO -- Executives behind the star-powered Nobu Toronto development, which includes 660 condominium suites, a hotel, and the first Nobu Restaurant in Canada, say they're not concerned about a real estate bubble in the city.
Founded by chef Nobu Matsuhisa, Academy Award winner Robert De Niro and Hollywood producer Meir Teper, the Nobu brand grew from a New York restaurant into a stable of high-end eateries and hotels around the world.
Matsuhisa and De Niro attended a press conference in Toronto on Tuesday where project backers said they're not concerned with temporary fluctuations in the market.
They said they believe buyers would consider a condo in the Nobu development a long-term investment.
De Niro said he's attended the Toronto International Film Festival and has shot movies in the city but still has plenty to learn about the local culture.
The "Taxi Driver" star said he's getting a free unit in the development, which could mean the New Yorker will swing by the city more frequently.
"Toronto's a great city, it's got a great film festival," he said. "It's a great city and an important city."
http://www.bnn.ca/nobu-toronto-execs-say-they-re-not-concerned-about-real-estate-bubble-1.765430