Wrk_InProgress
New Member
Nylon,
Almost forgot. Congratulations on your first home!
Almost forgot. Congratulations on your first home!
- Thread starter FutureBuilder
- Start date
Granny
Active Member
Carturo
I wonder if you and I are talking about the same. The unit I'm referring to was your model but it had not only a glass privacy partition glass to the left side but another one directly in front!! That was because another balcony abutted right up to it directly in front. I'm not talking about a railing here, but full size privacy partitions. Is THIS the one you got? Basically this balcony was boxed in on all 3 sides. Two glass prvacy walls and a brick wall. When I first saw it I couldn't believe it.
carturo15
Active Member
Yes, we are talking about the same. I know the unit has that glass partition directly in front. there are 8ft between the windows and that partition glass in front. that partition should be 6 or 6.5 ft height. my point is that the unit beside on the left, doesn't have a glass partition directly on the front, but it has a huge wall directly on the front of the terrace that separates the lot from the adjacent property. the view is very limited for both units, I mean all those units on the 3rd floor facing west have a very limited view, however the unit that I signed was $475 per sq ft, the unit beside is $625 per sq ft., why? I know about that partition wall directly in front, that is not good at all, but the unit has a very nice layout, good finishes, great location, it has a terrace so it has gas in the terrace (balconies does not come with gas), the cheapest price per sq ft, $475 in the building so I don't know, I have 10 days to make my decision
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cdr108
Senior Member
I'm not completely understanding the floorplan per attached.
As you said, iit looks like there's a balcony to your left (South) and a large terrace in front (West) boxing this unit in completely, albeit with balcony partition glass <<< that just can't be right ... there's no open area whatsoever !?!?!?
can u confirm that the unit to your right (North) does indeed have the large south terrace in front of your balcony ???
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carturo15
Active Member
Yes, there is a balcony to the left and a large terrace in front, as you say, it is boxed with balcony partition glass. there are 8 ft between the windows and the front partition wall, but the balcony above is only 5ft deep, so we could say that there are like 3ft open and also the partition wall should be around 6 ft height and the unit ceiling is 9ft. so, that is the only space open. I know it is not really nice, but there are many factors to consider before making the final decision, there was not anything else available today, rather than big units above $500k
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urbandreamer
recession proof
I'll buy it from you for $300PSF.
Granny
Active Member
I'll buy it from you for $300PSF.
LOL. Actually, no you would not.
You just keep preying on the the newbiies here, until they figure you out like the rest of us already have a long time ago.
Granny
Active Member
Oh well. Perhaps youor your guests could take turns standing on a box to take a look at the top tip of the CN Tower through the one and a half foot space between the privacy partition and the upper balcony. You may have to excuse yourself to your neighbour once in a while though.
Good luck with your purchase. >>>>and once again. CONGRATULATIONS! At least you are fully aware of what you are getting into.
interested
Senior Member
Nylon: If work in progress is right and you paid $70K for the terrace, you didn't get a deal You got a steal!!! congratulations. that terrace is worth at least $100K premium in probably any market.
HiRiser
Active Member
It's a very good price but I would feel very boxed in. Essentially you would have no outside view only looking into your own balcony with partition walls around. If you plan on living there in the long term I wouldn't suggest it. However, I'm sure you could rent it out given the location and price.
carturo15
Active Member
BBQ won't be allowed unless you have a terrace with gas line. Out of the 54 one bedroom and one plus den units, only 7 units have terraces with gas and will have bbq abilities. The unit that I signed is one of those. the terrace has a decent size 8ft x 14ft (112 sq ft). I know it's not great to have a terrace partition directly on the front, but at least that partition is glass and the light will come through, it could be worse with a blank or brick wall. What I think is that you can turn that terrace into a beautiful outdoor space with a nice floor, plants, bbq so even if you don't have a beautiful outside view, at least you have a beautiful outdoor terrace. some units on the 3rd, 4th and 5th floor do not even have a balcony and are facing the street with a very limited view and noise and the building is asking like $550+ psf for those units, so at $475 psf this unit is not a bad idea. I don't know, still 9 days to make the decision
aguduser
A part of UT
Well, this is the case of "buying the worst house on the best neighborhood". In a seller's market, the worst house of the block will sell, and you can make a nice profit! I personally know a friend who did just that, he bought the worst unit in a building on Richmond St. East in 2008, sold it 11 months later, at just the right time - July 2009 - and pocketed $50K.
In a buyer's market, though, that same house will sit forever.
Now, who knows what the market will be like in 3 - 4 years when this building is completed, or when you actually sell the unit? At the moment, the condo market in downtown Toronto seems to shift from the peak of a seller's market, which was a month or two ago, to the buyer's market, which could happen in just a month or two from today. Many many listings, and some of them have got no offers.
The market keeps changing, sometimes it's in your favors, sometimes it's not. So I say, if you have the resources to keep this unit for a long term, and not thinking of making a quick profit, keep it! Eventually, due to the location, it will get the appreciation along with the better units in the building.
But if you are extending yourself, hoping to catch a great deal, I'd say "Don't buy it just because it's cheap!" That's what I often try to remind myself these days.
interested
Senior Member
Carturo,
Aguduser is bang on. It is exactly the thought process I had when I posted to you a couple of pages ago.
My question is: Is it really imperative for you to keep this unit in your own mind because it seems like a risk and while a good price point consider that as a rule the companies that market these things know what they are doing and marked this to an attractive price to get it sold because they realize the issues.
Clearly you realize the issues. I would rather wait for something to come along even if a bit higher a price. I suspect Aguduser is a bit older like I am, has witnessed the 1990's market, and he is telling you reality. You may come out a big time winner but remember the saying, no risk, no reward. Are you prepared to gamble because unless you will live in it and are OK with the shortcomings, it really is a gamble that the market will be favourable if/when you go to sell.
In the early/mid 1990's, less desirable product either did not sell or was severely discounted to move it.
extremis
New Member
Hi Guys
Very new to this website some amazing news though has been shared, my friend and I were lucky enough to purchase in the building on Saturday yes it was a mess and luckily my agent had a 10am appt. I wanted to get your honest opinions on these units. As well does anyone have an idea of what floor clears the buildings with the west view? Does anything about the 5th floor clear the adjacent buildings? Thank you for your opinions
I bought an east facing unit on the 7th floor for $334,000
http://www.theberczy.com/pdf/planB1.pdf
My friend bought his unit facing west $522,000 with parking and a locker but he is very concerned that the 5th floor won't clear the adjacent building does anyone know if it will? I have heard mixed news on this
http://www.theberczy.com/pdf/planC4.pdf
Thank yoiu again looking forward to hear what you have to say!
Very new to this website some amazing news though has been shared, my friend and I were lucky enough to purchase in the building on Saturday yes it was a mess and luckily my agent had a 10am appt. I wanted to get your honest opinions on these units. As well does anyone have an idea of what floor clears the buildings with the west view? Does anything about the 5th floor clear the adjacent buildings? Thank you for your opinions
I bought an east facing unit on the 7th floor for $334,000
http://www.theberczy.com/pdf/planB1.pdf
My friend bought his unit facing west $522,000 with parking and a locker but he is very concerned that the 5th floor won't clear the adjacent building does anyone know if it will? I have heard mixed news on this
http://www.theberczy.com/pdf/planC4.pdf
Thank yoiu again looking forward to hear what you have to say!
Wrk_InProgress
New Member
If you don't mind me asking, was that $522k including parking/locker or before parking and the locker ?
As for his view, the building to the west is 4 storeys high. Looking at aerial shots, it looks like he would be staring directly at all the HVAC on the roof. However, beyond that, he should have a nice skyline view.
Please note, I am talking about his (your friend) particular unit because if you are in a unit on the south end of the building, the adjacent Esplanade buildings are differing heights. As well, if the unit is somewhere in the middle, there is a small lane way which gives you a sliver of an unobstructed view.
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