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Superstar
You have got to be kidding on most of those..lol...give me Bloor/Yonge anytime, but then again 'different strokes for different folks
Toronto The One | 328.4m | 91s | Mizrahi Developments | Foster + Partners
- Thread starter urbandreamer
- Start date
maestro
Senior Member
The Yonge and Bloor intersection is the best spot for commercial and this project takes full advantage of that. Residents will have direct underground access to the subway system but the commercial does limit vehicular access to the site. There's no grand, off street loading/ off loading area as with the Four Seasons, Shangri-la, Ritz, etc. That could come into play with the eventual hotel brand. I'm confident he hotel brand will determine how successful the multi-million dollar upper floor suites will do. They've barely sold any.
LMVDR
Active Member
The market clearly disagrees with you. Look at the utilitarian/mid market tenants across the street for clues.
Again, I think you mean the most marketable spot as opposed to the best.
heatscore
Active Member
Since they haven't sold many of the larger suites, could they adjust those floor plans to accommodate more of the smaller and better selling ones? Or is it too late for that?
I dont know how it works, but that seems like an obvious thing to do.
I dont know how it works, but that seems like an obvious thing to do.
maestro
Senior Member
The price per square foot being paid to become landlord is more of an indicator than the name of the leasee. First Capital Realty paid Great Gulf $190 million for 90,000 square feet.of retail in One Bloor. (Note: There's no added value from redevelopment potential) I wish I said one of the best as a buffer but, that doesn't clearly disagree with what I stated. Mizrahi couldn't build The One without the high value of the commercial space luring investors. There's too much competition for mixed use condos developments.
ardwold1
Active Member
Condos on "Any property on Hazelton"? This coming from the forumer who non-stop NIMBY'd the Adi/CetraRuddy proposal on Prince Arthur? Bizarre.
TrickyRicky
Senior Member
...at any rate no one on this forum would kick this property out of their portfolio 
. My original post referred to the value of the land not specifically if the mix of proposed use is appropriate or sellable. That list of property location you mentioned LMVDR are fine for the sale of individual high end condo units but they don't come with premium commercial frontage or a 300 m + height envelope to work with. To be honest putting foreign buyers aside, the marketing of high-end high-rise condo units to the local rich is a niche I have no understanding of. I feel most people in that demographic would prefer living in a low or mid-rise housing option of which there are endless options. I have every intention of retiring a man of means and I would never consider living above the 8-10th floor of a building.
. My original post referred to the value of the land not specifically if the mix of proposed use is appropriate or sellable. That list of property location you mentioned LMVDR are fine for the sale of individual high end condo units but they don't come with premium commercial frontage or a 300 m + height envelope to work with. To be honest putting foreign buyers aside, the marketing of high-end high-rise condo units to the local rich is a niche I have no understanding of. I feel most people in that demographic would prefer living in a low or mid-rise housing option of which there are endless options. I have every intention of retiring a man of means and I would never consider living above the 8-10th floor of a building.
denfromoakvillemilton
Senior Member
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Agreed....at any rate no one on this forum would kick this property out of their portfolio
Benito
Senior Member
Working away today.
ADRM
Senior Member
...at any rate no one on this forum would kick this property out of their portfolio
Well the owners of units in the Shangri-la, Four Seasons, Ritz, 80 Yorkville, One St. Thomas, 10 Bellair, and others don’t seem to agree.
Those folks are exactly the type of local buyers who’d be prospective purchasers here, those buildings are all full, and most units in them trade within two weeks if they’re competitively priced.
droyces
Active Member
Everything at the Four Seasons may not be so rosy after all: http://projects.thestar.com/four-seasons-condos/
AdamS
Active Member
...at any rate no one on this forum would kick this property out of their portfolio
There are plenty of local ultra wealthy that own residences in Four Seasons, Ritz Carlton, ShangriLa, Minto Yorkville, and at to a lesser degree St.Regis (foremerly Trump).
Most of these wealthy people want space large enough to host medium size parties (so greater than 3000 sf) but also crave privacy which I don't know if The One will offer given that an Apple store is likely in the works.
The major difference is Mizrahi is a relatively small-time developer with an unproven brand lacking in serious joint venture or established partnerships. This is not to take anything away from his success, but as a buyer, why take the risk? If there's significant value (ie prices were compelling) then maybe you would take a chance.
But there's a reasonable risk this development goes sideways due to massive cost and alternative/private lenders who could turn on him. Most buyers prefer to steer clear of those risks.
Anyway hopefully it all works out for him.
LMVDR
Active Member
I’m flattered by your interest in my comments.
Indeed I believe that Prince Arthur is a fantastic location for a boutique condo building like 36 Hazelton or the Hazelton Hotel for example. I should have added Prince Arthur to my list of supeiror condo living locations.
(Off topic)
Notwithstanding Prince Arthur is a horrible location for a tall condo that shadows the neighborhood of mostly low and mid rise structures and thus that proposal needs to be shot down.
AdamS
Active Member
Incredible. So many scammers out there.
madknife
Active Member
i don't really hang out with people that frequently pay $10m+ for condos, so i'm just shooting out of my butt here... but for units priced that high, do people really sign purchase agreements and pay deposits 5+ years in advance? i was under the impression that buildings like 432 Park Ave. in New York are mostly built before the top floors are taken by buyers?