Toronto The One | 308.6m | 85s | Tridel | Foster + Partners

Edward Skira said:
From where? You think they stand outside the sales centre as people leave like journalists do at polling booths during elections? The only people that can reveal the actual number are the developers.
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Nope, I don't think that. I figured it might be possible that since its expensive data to purchase and aquire, that they might have agreements set up with developers possibly to obtain more accurate information than information gathered from an advertisement.
 
can i ask a dumb question? why would the developer undersell its own development in its own advertising? i would get it if they try to juice up the numbers (e.g. using % of released units instead of % of total units) to make the property appear more popular, but is there any reason at all for the number in the ad to be LOWER?
 
Urban-Affair said:
Nope, I don't think that. I figured it might be possible that since its expensive data to purchase and aquire, that they might have agreements set up with developers possibly to obtain more accurate information than information gathered from an advertisement.
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Urbanation calls the developers. That's where they get all their info. Others like Altus do the same. Those market reports you see on a regular basis from organizations like this are generally put together this way. They are only reliable if the info they are provided is accurate (and not made up). I doubt they took the info from the ad but I'd think Mizrahi would use the same numbers across the board. In the end only Mizrahi's team know's the exact number.
 
Edward Skira said:
Urbanation calls the developers. That's where they get all their info. Others like Altus do the same. Those market reports you see on a regular basis from organizations like this are generally put together this way. They are only reliable if the info they are provided is accurate (and not made up). I doubt they took the info from the ad but I'd think Mizrahi would use the same numbers across the board. In the end only Mizrahi's team know's the exact number.
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That does make sense, and I'll have to take your word for it. It's just a tad bizarre that the ad came out with 55% sold, after Urbanation already had 72%. I would still put more confidence weight in Urbanation's stat. The ad has more of a purpose which is to incite demand - prospective buyers might see 55% and think still take a look, whereas 72% sold might elicit less belief that there will be anything left shortly, so why bother. (Just a theory of course.) Urbanation and other database providers are mostly used by real estate professionals who use their information for their analyses and therefore I could see the developer being more forthright with them.
 
Urban-Affair said:
That does make sense, and I'll have to take your word for it. It's just a tad bizarre that the ad came out with 55% sold, after Urbanation already had 72%
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Not so weird from a graphic design standpoint. Lets say they had 57% sold when the ad was created. Back and forth between the marketing team and the designers, then lead time on the ad, and the most up-to-date number gets lost. This wasn't your run-of-the-mill ad, either, but a full-page, front cover ad. That means there was at least a week's worth of lead time, with editorial staff involved (not just ad sales). I would suspect this ad was three weeks in the works, from the moment the word came down to create it.
 
Maybe both numbers are correct. For example, 72% of the total number of units were sold, but they only make up 55% of the value of all the units. For example, all $1million units were sold, but fewer $5million+ units were sold. As was mentioned, only the developer really knows, so this is just speculation and something else to think about (especially when trying to reach financing targets).
 
Fwiw, there was a rather large fold-out ad for The One on the inside cover of Toronto Life mag. that stated "over 50% sold"

That probably only adds to the confusion, but Id figure Id post it.
 
TheSix said:
Can we please move on? This speculating is going in circles and not adding any value to the forum.
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Oh - but we haven't even really got going yet. I have not seen any comparisons to the sales run rates of comparable properties at equivalent stages in their sales cycles. There has to be lots of potential to compare and contrast with the sales levels at comparable times for the Shangri-La, the Four Seasons, the Ritz Carlton, and dare I say it, the Trump condominiums. I am fairly sure they did all not sell out in the first weeks or so that people are bemoaning the status of The One.

Would it not be interesting to see sales rate comparisons for the One on a month by month against these projects? Perhaps we could then throw in some adjustments for seasonality (winter verses spring or summer sales), location (mid-town Four Seasons and The One), versus downtown (Ritz Carlton, Shangri-La and Trump)? How long was the Ritz Carlton sales pavilion sitting in the parking lot at 156 Front Street anyway?

At least these would be some objective measures to enhance all the fanciful speculation seen to date.

On the other hand, we could simply accept that a high end, high cost product is going to have a longer sell cycle, and need a little more patience than the typical mass market condominium project. Kind of like the sell times for larger three bedroom suites in a downtown building (e.g. according to the staff on site at the
Theatre District Condominium sales suite last weekend - fifteen units left, all three bedroom units. All the studio / junior and one bedroom, and two bedroom suites gone).
 
Forgive me for not keeping up on what's going on here. But can someone tell me if they added three extra floors? Because I thought this building was at 82 not 85 storeys. Will this increased the height of the building? Or has those floors all ready been squeezed in to the actual height that it is now?
 
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