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Million Dollar Condos
Toronto Condo Market News by
Jerzy Makarczyk
As Toronto’s urban
renaissance continues so does the increase in the prices for
downtown real estate. Nowadays, you no longer have to take a trip to
Rosedale, Forest Hill or The Bridle Path to look at a multimillion
million dollar estates. Instead, think of the new neighbour’s condo
across the hallway from your 600 sq foot suite.
In the last few years
hundreds of a million dollar condos have exchanged hands in
Toronto. Some of them have fetched more than 3 million and as high
as 5-7 million. In 2006 alone there have been more than 60 sales
recorded on the Toronto Real Estate Board’s MLS system with the
highest selling price of $3.8M at 1 Post Road. In the first 6
months of 2007 over 50 sales of $1M condos alone were recorded on
the MLS system and rest assured more than 100 of the million dollar
transactions will materialize before the year’s end. The number of
$3M+ sales in 1 year has increased 10-fold! In addition, private
sales of some of the most condo real estate and new development’s
sales of the Ritz-Carlton, Four Seasons, Trump Toronto, One St.
Thomas, Kilgour Estate and many others offer fabulous multimillion
dollar sky mansions in some cases asking over $10,000,000 and more
per suite!
Both The
Bellagio (300 Bloor Street East) and The Rosedale Glen (278 Bloor
Street East) receive plenty of positive attention. "The buyers flock
to both buildings paying over a million dollars for the best
suites." points out Steven Keshen, Sales Representative with
Rosedale Real Estate Ltd.
Across the GTA
many buildings offer the “million dollar babes” to those who demand
location, quality of services, space, security and views.
Some of the hottest, most
luxurious and expensive condominium buildings are located in
Yorkville, Rosedale, Lawrence Park, Queens Quay and most recently
Governor’s Hill, King/Queen West Village, Spire at St Lawrence
Market and as far as Thornhill’s Avignon, Port Credit and Oakville.
While shopping for a million dollar condo in Yorkville you can’t
miss The Prince Arthur at 38 Avenue Road, 10 Bellair Street, the
movie star occupied row of 1 St. Thomas 22 St Thomas (The Windsor
Arms) and 8 Sultan, highly demanded 102 and 110 Bloor West, 18
Yorkville, 3 McAlpine (The Domus), 77 Avenue Rd , 99 Avenue or 77
McMurrich. Many of these buildings offer amazing recreational
facilities, swimming pools, valet parking, rooftop deck with BBQ
areas and of course 24hr concierge.
Peter
Moazzani's, Rosedale Real Estate Ltd. sales representative, focus is
on 18 Yorkville + 21 Scollard where he resides. According to
Moazzani "The sales in these buildings are in the $250,000-850,000+
range with penthouses fetching up to $1.5M" He predicts that prices
will rise even more with the construction of the Four Seasons, The
Regency and 100 Yorkville in the neighbourhood...
Walk across Yonge Street to
the east and you will find Rosedale ravine’s communities of The
Bellagio at 300 Bloor, The Rosedale Glen at 278 Bloor and 20 Collier
St. A short walk north on Yonge Street will take you to Summerhill
and most luxurious 2 Roxborough Street East, 1 Balmoral, 9 and 33
Jackes Avenue, 40 and 70 Rosehill Avenue and 10, 20 Avoca (co-op)
and 38 Avoca.
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