Most expensive condo ever in Canada sells for $28 million in Toronto

[Pompal 09.]

It was worth every penny. Who wants to come over for caviar and lobster :tongue:

http://communities.canada.com/calgaryherald/blogs/realestate/default.aspx

 

[Dr. N. Das]

Hey Monkey, did you pay cash for it. :beurk:

 

[e_d_ellis2004]

Who says we are in a recession. :neutral:

The development is 85 per cent sold.

 

[TheMadHatter[Alice]TM]

The only thing wrong with this, imo, is that sooner or later the bubble might burst. Hopefully it won't......

Once again, this falls into the "more money than brains" category. I've built cheap condos and expensive ones. The expensive ones might have more detail, better quality flooring, maybe better appliances and more space, but that's where the "better" ends. The drywall isn't any better, the concrete isn't any better, the wiring isn't any better, the plumbing is exactly the same in a cheap condo or an expensive one (there just might be a little more of it).

I was working on one at Bayview village and for a cabinet I was installing, I'd have to work with the 8" plaster crown moulding (to fit it tight to my cabinet). I had never worked with plaster moulding before so when the guys came to install it, I went over to them for pointers. I said "hey guys, I've never worked with plaster mouldings before, anything I should be aware of"??? They looked at me: plaster? this ain't plaster and handed me an off cut...it was FOAM covered with a skin of plastic......Then I looked at the baseboard that I was going to have to work with, expecting oak maple or at least poplar...nope...MDF.......

So do the math: 9,000 sq ft. That's 9 times the average condo at $200K each. That's 1.8M
9,000 sft of say, granite flooring $18K
Say 9,000 linear ft of base and crown: $18K
say double the price of the bath finishes and fixtures, $20K
4 patios, $10K each $40K

am I missing something here? We haven't even hit $2M in real costs and someone paid $28M? holy crap I'm in the wrong business.......

Sure, it's a "frou frou" neighbourhood but really, have you ever visited? It's congested, traffic is a bitch, there's no place to park and it is highly polluted.