Tag Archives: competition
Even The Donald has been trumped by a real estate record
By Jessica Gresko – Associated Press
PALM BEACH, Florida â€” Donald Trump’s property for sale has all the big-time extras one might expect. Pricey marble and 24-karat gold fixtures in its bathrooms, a gargantuan fountain by the driveway and 145 metres of oceanfront out back.
Perhaps the biggest thing about the home, however, is its price: $125 million (U.S.). And (sorry, Donald) that price has already been trumped. A home in Aspen, Colo., is now listed at $135 million. Another in Lake Tahoe, Nev., was recently listed at a flat $100 million.
The listings represent a monetary milestone in American real estate: The first time U.S. homes have broken into a whopping nine figures, according to real estate experts, and they’ve done so in quick succession. A May survey of the nation’s most expensive homes by Forbes.com put Trump’s home at the most expensive and the first to break the $100 million mark.
Now, the trio has market followers wondering: Will they sell? And what do you really get for $100 million?
“I’m surprised it took so long for people to realize value,” Trump said of the listings.
Usually the top 10 per cent of any marketplace is considered the luxury market, but these properties are a tier above.
“They’re super-luxury properties,” said Trump, the real estate mogul and reality TV star.
Shari Chase, of Chase International, which has the Lake Tahoe listing, said: “This is stratospheric for offering prices but I think we’re going in that direction….These three properties, they are really the Super Bowl of real estate.”
The listings are extreme. At these prices, bedrooms, bathrooms and square-footage are almost irrelevant. Like their price tags, all three are gigantic.
At the Aspen property, owned by Saudi Prince Bandar, the main residence, finished in 1990, has more than 56,000 square feet (about 1,000 square feet bigger than the White House) on a nearly 40-hectare site. It even has its own car wash and gas pumps.
Need more outdoors? The Lake Tahoe home, owned by Tommy Hilfiger Corp. co-founder Joel Horowitz, comes with 38,000 square feet of livable space on 85 hectares. Included are a private trout-stocked lake and two par-3 golf courses. Among indoor features is a grand staircase that replicates one built on the Titanic.
Smaller on acreage but bigger in square footage is Trump’s property, called Maison de L’AmitiÃ© (House of Friendship), which he bought for about $41 million in 2004.
He assigned renovations to Apprentice winner Kendra Todd. Its approximately 80,000 square feet encompass several buildings.
Sara Clemence, an editor for Forbes.com who wrote its listing report, says the recent 100-million-plus-dollar listings are significant.
“That said, just because you ask for it doesn’t mean you’re going to get it,” she said.
Taxes alone on the Trump property, if sold at its current asking price, would be more than $2 million a year, according to the Palm Beach County property appraiser website.
The Donald, surprised to hear his property had U.S. competition, asked, “Who’s at 135? My property is worth more than $125 million. It’s a bargain.”
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by Amy West
The phrase “Queen West” describes both the western branch of Queen Street, a major east-west downtown Toronto thoroughfare, and the series of neighbourhoods and commercial districts situated along it. The western end of Queen Street begins at the intersection of King Street, The Queensway, and Roncesvalles Avenue. It extends eastward in a straight line to Yonge, where it becomes Queen Street East.
Since 1793, when Sir Alexander Aitkin surveyed the area, Queen Street has had many names. For its first 60 years, many sections were referred to as Lot Street, but in 1851 the name was changed in honour of Queen Victoria.
Over the past 25 years, Queen West has become an international arts centre and a major tourist attraction. The area is one of Toronto’s most popular shopping districts and features trendy restaurants, cutting-edge fashion, galleries, antique shops, and dance clubs.
The area gained in trendiness when in 1980 the ornately decorated building at 299 Queen West was transformed into the CHUM-City Building – headquarters of Citytv, MuchMusic, Bravo!, and many other cable television and radio stations – and is now best known as a centre for Canadian broadcasting, music, performance, fashion, and the visual arts. Further east, Queen is dominated by institutional and cultural buildings such as old City Hall, Toronto City Hall, Osgoode Hall, and the Four Seasons Centre.
For decades Queen Street West was the home of the city’s artistic community. One of its popular events is the Queen West Art Crawl, an annual weekend-long festival celebrating the arts. For three days each September, the artists, organizations, and businesses of Queen Street West throw open their doors to the city and showcase their work.
Queen Street West and shopping have always gone hand in hand. Since the 19th century, Queen West at Yonge has been one of Toronto’s primary shopping destinations. Back then the Eaton’s and Simpson’s department stores faced each other, with the rivalry between them being as central to Canadian retailing as the Macy’s/Gimbel’s competition was to New York City’s retail history. The pedestrian crosswalk just west of the intersection of Queen and Yonge was one of the busiest in Canada, as thousands of shoppers comparison shopped everyday.
Today Eaton’s is gone, but the Eaton Centre, one of Canada’s most successful office and shopping complexes, remains at the same location. Simpson’s is also gone, but the historic building still stands and is now occupied by The Hudson’s Bay Company.
In the 1960s and early ’70s, the stretch of Queen between University and Spadina was an aging commercial strip known for greasy spoon restaurants and inexpensive housing. In the late 1970s and ’80s, students from the Ontario College of Art & Design transformed the area into an active music scene that largely defined Canadian music of its era.
The vibrant arts culture soon attracted other artists, audiences, and wealthier people to the area. Since then, the name Queen Street has become synonymous with the words trendy, cool, and, ultimately, expensive. Luckily a few of the older and hipper bars, such as the Cameron House, the Horseshoe Tavern, and The Rivoli, haven’t changed much, and top
Canadian musical and comedy acts are often still found performing in the area.
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