Tag Archives: for sale
House prices going through the roof
Even The Donald has been trumped by a real estate record
By Jessica Gresko – Associated Press
PALM BEACH, Florida — 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’Amitié (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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Hip condo and loft project features artsy design
Site reflects eclectic spirit of neighbourhood
Packages take stress out of finish selection
Excerpt from an article by Shelly Sanders Greer – Toronto Star
Baywood Homes is bringing back a bit of that hip, artsy feeling with its new condominium project on Queen St. West, aptly named Bohemian Embassy.
Queen St. West has always been an eclectic neighbourhood with unusual boutiques and specialty shops mixed in with Victorian and industrial buildings. Bohemian Embassy has been designed almost as a piece of art, which adds to the existing architecture.
The Bohemian Embassy has 345 suites, including a number of flats and two-storey lofts.
They were designed by II by IV Design and range from 475-square-foot, one-bedroom units to large, 940-square-foot, two-bedroom-plus-den, two-storey lofts.
Pieper explains that purchasers can choose from four standard packages with various colours and tones. The finishes are high-end, with natural quartz stone countertops, vessel sinks and laminate floors throughout.
Since the Bohemian Embassy opened for sales on Sept. 20, hundreds of people have been through, with 400 appointments booked on one Saturday alone.
“Our demographics include first-time buyers and well established people who work in the financial district,” says Pieper. “This is an up-and-coming community, the cultural capital with many venues here used during the Toronto Film Festival.”
Local artists and artisans were recruited by Baywood Homes to help with the design and decoration of the pavilion.
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Network Lofts a Real Conversion Job
Bell Canada’s ‘overbuilt’ complex finds new life as Network Lofts
Excerpt from an article by W.D. Lighthall – Toronto Star
Back in 1971, Bell Canada overdid it. That year, Bell built a combined office building and switching station near the intersection of Islington Ave. and Bloor St. W.
A development team of Finer Space Construction and The Alterra Group will soon start converting the 12-storey former Bell building into a 13-storey loft building called Network Lofts.
The Network Lofts building suits a loft conversion because ceiling heights average 10 1/2 feet and the extra structural strength allows for wide spans between columns and load-bearing concrete walls.”With residential lofts, you have to provide lots of natural light. We will change the character and feel of the place,” says Barnett. “When you have a stretch of window 10 1/2 feet high, it’s almost like being outside.”
The conversion work involves removing the old mechanical and electrical systems and replacing them with systems that meet current building-code standards, as well as the expectations of today’s loft buyers.
The mechanical floor will then be converted into two-storey loft units with ceiling heights open to the 17-foot mark.Located across the street from the Islington subway station and just west of the Kingsway Village, the building sat empty for about a year after Bell moved out and put it up for sale. Barnett says it makes good sense to convert the building from office to residential use.
Network Lofts will offer one and two-bedroom units, with and without dens. Prices start at $159,990 and units range from 573 square feet to more than 1,200 square feet.
Network Lofts features include ceiling heights ranging from 10 feet to 17 feet, polished concrete floors, exposed concrete columns and oversized windows.
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