INVESTORS
. . . . GLAS LAUNCHING SOON AT CHARLOTTE STREET IN THE ENTERTAINMENT DISTRICT
The King Street Spadina crossroads is host of another interesting “soft loft”
condo being co-ventured by Harhay Construction Management and Niche Developments.
Glas will be located immediately
between The Charlotte Lofts
and The Hudson. The Hudson will
soon launch a second building immediately east of it’s original building and just
south of Glas separating it from King St.
Gläs has been designed to “be a 16-storey glass homage to the modernist
architectural movement“. It will house 172 high-design condominiums, in the heart of
the theatre district, the business district, the entertainment district and steps to the
TTC.
Gläs will feature “patented
lofthouse, one bedroom, one bedroom plus den, two bedroom, penthouse and a uniquely
furnished hotel-style pied-a-terre condominium with features like soaring ceiling heights,
huge floor-to-ceiling windows, hardwood floors, designer kitchens and bathrooms, gas
cooking in kitchen and outdoors, plus stone counters, all from $149,900“.
I have been invited to attend, with my clients, a V.I.P. early-bird buying event on
Wednesday, November 30th, from 6:00 pm – 9:00 pm. This really is where “the
rubber meets the road” for investors. Those who boast at cocktail parties handling
their own purchases at the site probably don’t realize that Brokers like myself
frequently purchase units at preferred rates for our clients well before sites open to the
public.
You must make yourself aware that this is all about selling, and risk, and risk management
and just like you, as an investor don’t want to assume more risk than necessary
developers also work very hard to minimize risk.
Prominent Realtors like myself consistently deliver large numbers of purchasers and
through this valuable sales and marketing channel they insure optimum sales with minimal
advertising costs. If you’ve seen what full page one day ads run in the Toronto Star
or Globe and Mail you will understand the practicality for them depending on pros to bring
in qualified buyers. |
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It’s
not like the public is at a disadvantage, rather it’s simply the way the business is
done. The easiest solution for the public, who usually are not familiar with all of the
nuances of this specialty area of real estate and certainly not experienced with reading
floor plans, floor plates and juxtaposing them into the existing environment while knowing
the background and reputation of the developer, local market trends and comparable product
pricing and availability anyway is to work with a knowledgeable professional who
specializes in this unique "niche" market within the real estate industry. By
the time you see a hole in the ground for a condo you (this is what your agent must bring
to the table) must be aware that they have already SOLD 65% of the units (or there would
be no hole) thus many other buyers have already picked the primo suites at potentially
substantially less money per square foot.
If you are in love with the development and wanting to move in right away and live in the
unit then the increased selling price is not as harmful as if you are trying to be an
investor. It is important to have a well thought through strategy starting with
identifying your objectives, risk tolerance, occupancy tolerance (presales are prone to
delays) before you start running around to condo sales sites.
The absolute best advice I can give you with my almost thirty years experience in this is
to have your own skilled condo specialist (Realtor) represent your interests. Be sure that
they are thoroughly experienced in the area of condos as legislation frequently is
changing and updating (we have a very comprehensive Condominium Act in Ontario).
The strongest message that I can convey to you here is to NEVER buy a condo or loft from
the Seller’s Agent! That means don’t walk down the street and see a sales site
and just walk in. Call me at 416-783-5000 and ask them to “put you through to me
directly” and if I am at all possible I’ll be on the line to get things rolling
for you. Again, DO NOT go in and DO NOT Register (give them your name) or they will NOT
underwrite your Buyer Agency Fees for you (my services are absolutely FREE to you
PROVIDING you do NOT Register with them first).
So, if you are looking for an investment and would like to visit Glas’ Priority
Realty Event as my Client/Guest I’m sure you will value the opportunity and enjoy the
event. Please Register now. |
