money

Jan 05

The Most Expensive Condos In Toronto for 2018

By Mark Savel Luxury Real Estate

How Many Luxury Condos Sold In Toronto For 2018?

From sprawling terraces, private wine cellars and even a penthouse with its own “backyard in the sky”… the luxury condo market in Toronto saw 28 suites sell for more than $3,500,000!

Leading this years list of most expensive condos in Toronto was an $8,000,000 penthouse that sold at the Shangri-La. In second place was $7,900,000 sale at The St. Regis Residences (formerly known as the Trump Hotel) followed by a $5,750,000 sale at the Residents of the Ritz Carlton.

The average price for a luxury condo in Toronto was just over $4,500,000.

How Much Was The Most Expensive Condo in Toronto for 2018

The most expensive condo sale in Toronto took place at the Shangri-La Residences in downtown Toronto. The three bedroom, two level penthouse featured 3415 sq.ft. of interior space and a private sky-high backyard measuring in at 1565 sq.ft. The penthouse was the last of four to sell at the Shangri-La and set the record for most expensive condo in Toronto at $8,000,000.

We toured the unit before it sold and absolutely loved the everything it offered – from its white oak chevron flooring to the gas fireplace wrapped in Calacatta marble… Check out more photos below!

Which Luxury Buildings in Toronto Had The Most Sales

In 2017, the bulk of sales occurred at The Four Seasons Residences, but in 2018 there was a five-way tie spread out over several buildings. 88 Davenport (The Florian), 183 Wellington (The Ritz Residence), 1 St. Thomas, 200 Russel Hill and back again for another year The Four Seasons Residences each recorded three sales over $3,500,000!

Which Luxury Buildings Had The Highest Maintenance Fees

A penthouse at the Hazelton Lanes Private Residences recorded the highest maintenance fees at a monthly rate of $6211.82/month. The same unit also made the list for the largest terrace, measuring in at 3507 sq.ft!

Which Million Dollar Condo Had The Most Amount Of Parking Spaces?

The penthouse at Theatre Park offered the most amount of parking spots with 4. The penthouse took up the entire 47th floor and featured a 360-degree 2,100 Sq.Ft. wrap-around terrace.

How Long Did it Take for Luxury Condos to Sell in Toronto?

On average it took about 40 days for these condos to sell. The longest took 185 days, and the shortest was sold in just one day!

Where Are The Majority of Luxury Condos Located in Toronto?

The majority of condos that sold for more than $3,500,000 were located in the downtown core and the majority of them in the Yorkville neighbourhood. The Residences of the Ritz Carlton and the St. Regis Hotel were two other two popular buildings located on both the east and west sides of the core!

Feb 23

Love0

What Are they Building at 529-543 Marlee Ave? 819 Glencairn Ave.

By Mark Savel New Condo Developments

More changes are coming to Marlee Ave! An application has been submitted by KFA Architects and Planners on behalf of 809726 Ontario Ltd to build a 9 storey, residential condo on the corner of Marlee and Glencairn.

Where Will the Condo be Built?

The lot is located on the North East corner of Marlee and Glencairn. The application was submitted to re-develop the addresses known as 529, 537, 539, 541 and 543 Marlee Avenue as well as 811 and 813 Glencairn Ave. For application purposes, the building is referred to 819 Glencarin Ave – but that name may change as the approval process progresses.

What is Currently on Site?

The lot is occupied by a three strorey mixed use building with commercial uses at grade and walk-up apartments above.
Sidenote: we know this corner very well, as we’ve had many dinners at Li Cheng’s!

How Many Units Will be Built?

The current application calls for 84 residential units with retail at grade. The retail space can be divided into a variety of options, from 1 large unit to 6 smaller ones.

What Type of Layouts Will 819 Glencarin Ave Have?

The current proposal is calling for:

28 one bedroom units

24 one bedroom and den units

28 two bedroom units

2 two bedroom and den units

2 three bedroom units

What Will The Project Look Like?

What Amenities Will the Building Have?

Plans are calling for a gym and party room along with a shared outdoor balcony.

Will the Condo have Parking?

Three levels of underground parking will be included in the design, along with 79 parking space with two spaces for commercial use and eight for visitors. They will also have bicycle parking off of the main level.

When Will 819 Glencairn Ave Be Built?

Plans were submitted to the city in September 2017 and the first community consultation meeting was in January 2018. There was a lot of community push back and a many changes suggested to the overall project. As more info is known, we’ll update the blog!

Our Thoughts on the Project

Marlee Ave is ripe for development – it has the vibe, feel and potential to become “The Ossington” of midtown! This application is the second of the year for the strip (first being a series of stacked townhomes at Wenderly Ave), and atleast to us, a welcomed addition to the area.

In January 2018, we attended the community consultation and unfortunately many in the room didn’t share the same enthusiasm for the project as we did! There was a small handful of the usuals who flat out wanted no changes whatsoever. BUT there was also a larger group that were open to redevelopment, so long the height was brought down.

Personally, we think 9 storeys is perfect for the area! A short walk south on Marlee is where you’ll find several condos, built in the 70’s, with heights of over 20 storeys tall. We also like the use of red brick for the exterior, helps set it apart from yet another boring glass building.

From the sounds of it, it looks like the architects will be going back to the drawing board to makes changes to the proposal. Be sure to check back as we’ll be providing updates as more is known!