Here is "high res" of the partial price list. I believe these units are considered "sold" already. But again could be broken telephone. As for the zoning report, what I read was part of site 1, 2 and 3 for the corner concerning gibson, suspended project, and centrium. On it, they were all listed to be 27 to 31 storeys. I'm not a civil engineer or what not so I could very well be reading it wrong or used the term incorrectly. Having seen that and the price list indicating there is a unit on 31st floor, is it safe to assume it's going to be 31 floors?

As you can tell I'm a newb ( ^^post count), I am here to learn so if I've made a mistake, criticism and pointing me in the right direction is definitely welcomed.

welcome to UT mito... don't take my tone wrong, I meant no offense :)

thanks for posting the price list ~ with regards to 27 vs 31 floors, it actually does make sense, the builder is showing unit # 3108 which you would 'think' it is the 31st municipal floor ... whereas in reality it is only the 27th legal floor (that is because they probably skip 4, 13, 14, 24 in this building, 27 + 4 floors = 31st)
 
There is no 13 and 14th floor

I heard from an agent that there is no 13 and 14th floor, he also said it is 70% sold. and current price is about 470$ sf as of Sept 11th.

Any Comments???
 
likewise, I suspect there is no 4th and 14th floor either ... which is interesting as I notice most 'major' builders have been moving AWAY from skipping any floor #s in new condo projects
 
likewise, I suspect there is no 4th and 14th floor either ... which is interesting as I notice most 'major' builders have been moving AWAY from skipping any floor #s in new condo projects

It depends on the developer and the expected purchaser. I know many developers that still skip numbers (more than just floors, but actually removing the numbers from anywhere in the building including suite numbering), and lots that do not bother. This can also be seen in municipal numbering selection (88 is hot!).

Each development looks at the traditions of the purchaser, and many developers/builders will alter the numbers accordingly.

In fact, just a few years back, I remember having a purchaser who refused to move into their suite because their suite number was changed to "513" during construction; obviously, "13" being a superstitious number. As such, I changed the entire numbering on that floor to suit their suite. Fun (not)!

R.

M.
 
I heard from an agent that there is no 13 and 14th floor, he also said it is 70% sold. and current price is about 470$ sf as of Sept 11th.

Any Comments???

do you know if the "Agreement of Purchase and Sale" is available for buyers to sign? because as far as i know, people who bought previously only signed an "Investors Agreement".

Can you ask your realtor to confirm for me, please. Thanks!!
 
Agreement of Purchase and Sale

I just signed one, I don't remember the title, but not the "Agreement of Purchase and Sale" for sure. I am new to pre-construction or real estate as a whole. please help me understand the difference.

Thanks
 
welcome to UT mito... don't take my tone wrong, I meant no offense :)

thanks for posting the price list ~ with regards to 27 vs 31 floors, it actually does make sense, the builder is showing unit # 3108 which you would 'think' it is the 31st municipal floor ... whereas in reality it is only the 27th legal floor (that is because they probably skip 4, 13, 14, 24 in this building, 27 + 4 floors = 31st)

Thanks for the explanation. I realized that in a very very delayed time frame (i.e. when I was on an elevator wondering were the number 14 went in a very caucasian neighbourhood).

Pinklady: is it possible to scan what you signed blocking out all the confidential information?

Regarding something posted earlier on.. I'm interested in this project mainly because of the 2nd bathroom although I agree only a powder room is necessary.
 
I think it could be an Investor Commitment Agreement. It's only your commitment to purchase an unit. You pay a deposit to secure an unit. If you end up not purchasing it, you may lose the deposit.

I just signed one, I don't remember the title, but not the "Agreement of Purchase and Sale" for sure. I am new to pre-construction or real estate as a whole. please help me understand the difference.

Thanks
 
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I think it could be an Investor Commitment Agreement. It's only your commitment to purchase an unit. You pay a deposit to secure an unit. If you end up not purchasing it, you may lose the deposit.

That's exactly what they called it, "Investor Commitment Agreement". Your basically right on. It's a $5000 deposit, which is held at their Lawyer. They called the $5000 deposit a "Commitment Fee".
 
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LOL Anthony ... in order to 'appear' to be a professional real estate agent, maybe you'll need to make up your mind before you start selling the concept of "buy NOW, demand will excced supply" ~ ;)





I think you just summarized it right there Anthony ... Except for the cost factor (which is very important I agree), Gibson Square is being built by a reputable developer (Menkes), the design and finish is better, and it has direct underground subway access ... so remind me again the selling point of Centrium ??

Given the negatives above, the 645 sq.ft. 1B+D (which really should be a 1B) suite starting from $290,000 doesn't really qualify as affordable nor attractive pricing, which works out to $450/sq.ft., taking into consideration that this is NYCC, and this is not connected to a subway station (unlike many NYCC condos)

Although you've raised some good points, there are some points which make the Centrium a desirable condo.

First of all please take it easy with my 1 or 2 month prediction for the sale. It's just a guestimate. What did you want me to predict down to the number of days? I said I can see this sell out in 1 and maybe I should have said OR 2 months. Would that have made life happier for everyone (Don't you just love these internet forums for pointless arguments :p)? Who knows for sure. It may be 1 2 or 3 months. It was just a rough guess! You don't need to split hairs. Now moving to the next point.

What's the selling feature of this condo you ask if it's not better than the Gibson Square? One word. PRICE. The Gibson Square is now selling a one bedroom (580ish square feet) for approx. $350,000 with parking. And the Hullmark down the street is at $340,000 for a one bedroom. Sure these are built by reputable builder, but a lot people tell me it's too expensive for their wallet.

Name me another condo in the Yonge corridor released in the last year that is selling at the same prices more or less than resale? Are you aware that a one bedroom resale in the Empress & Yonge area is already selling at $270-280,000 and a 1+den is about $300,000? By the time the Centrium is built the resale market will have jumped up another 30-40k easily based on the current appreciation rate in the area.

You can knock the Centrium about the lack of direct subway access, finishes that may or may not be as good, etc...but $50,000 LESS than a G.S. one bedroom will get you a 1 bedroom and den at the Centrium. That's the selling point. to some people they can live without the direct access. The location is still very good and in the central area. It's practically next to the G.S. The subway is a 3 minute walk away. The price is so cheap that it's comparable to the resale market. There are no better price alternatives for a new condo. If someone is looking for a longer closing and doesn't want to pay $390,000 for a one bedroom with parking and den (G.S. & Hullmark feel free to double check) what choices do they have? The centrium is $100,000 less in comparision to those 2.

I think there are many good selling points about this condo. Price and location are obvious. If you don't think the Centrium is a good & cheaper alternative to the high prices, then you must be predicting that it will take long to sell? Care to estimate the time frame on how long you think they'll sell 75% of the units? Btw, when I say sell out it ment a good portion of the most desirable units, not the small percentage of units that they try to fill at the end that nobody wants.
 
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Although you've raised some good points, there are some points which make the Centrium a desirable condo.

First of all please take it easy with my 1 or 2 month prediction for the sale. It's just a guestimate. What did you want me to predict down to the number of days? I said I can see this sell out in 1 and maybe I should have said OR 2 months. Would that have made life happier for everyone (Don't you just love these internet forums for pointless arguments :p)? Who knows for sure. It may be 1 2 or 3 months. It was just a rough guess! You don't need to split hairs. Now moving to the next point.

What's the selling feature of this condo you ask if it's not better than the Gibson Square? One word. PRICE. The Gibson Square is now selling a one bedroom (580ish square feet) for approx. $350,000 with parking. And the Hullmark down the street is at $340,000 for a one bedroom. Sure these are built by reputable builder, but a lot people tell me it's too expensive for their wallet.

Name me another condo in the Yonge corridor released in the last year that is selling at the same prices more or less than resale? Are you aware that a one bedroom resale in the Empress & Yonge area is already selling at $270-280,000 and a 1+den is about $300,000? By the time the Centrium is built the resale market will have jumped up another 30-40k easily based on the current appreciation rate in the area.

You can knock the Centrium about the lack of direct subway access, finishes that may or may not be as good, etc...but $50,000 LESS than a G.S. one bedroom will get you a 1 bedroom and den at the Centrium. That's the selling point. to some people they can live without the direct access. The location is still very good and in the central area. It's practically next to the G.S. The subway is a 3 minute walk away. The price is so cheap that it's comparable to the resale market. There are no better price alternatives for a new condo. If someone is looking for a longer closing and doesn't want to pay $390,000 for a one bedroom with parking and den (G.S. & Hullmark feel free to double check) what choices do they have? The centrium is $100,000 less in comparision to those 2.

I think there are many good selling points about this condo. Price and location are obvious. If you don't think the Centrium is a good & cheaper alternative to the high prices, then you must be predicting that it will take long to sell? Care to estimate the time frame on how long you think they'll sell 75% of the units? Btw, when I say sell out it ment a good portion of the most desirable units, not the small percentage of units that they try to fill at the end that nobody wants.

They don't even have Purchase & Sale Agreement yet. How do they sell out (just curious)? Has the site even been approved yet? IMO, it doesn't matter how much of a deal it is compared to other sites if it doesn't even get built (or approved). It's all speculation. Who knows what will happen. Only if construction starts will it be a good "bargain" compared to other sites in the area. Again, just IMHO.
 
I agree with your comment argos ... it doesn't matter how good of a 'bargain' a project is if there is no certainty that the building will get built ~

For clarification, the Centrium project DOES NOT have approvals from City Planning, the rezoning application was actually just submitted in the beginning of September ... once again, potential purchasers beware ~

Rezoning application (09 165755 NNY 23 OZ) was submitted to the City of Toronto Planning Department on September 3, 2009 for the Centrium site together with an application for rental housing demolition & conversion (09 165759 NNY 00 RH) according to this website (http://app.toronto.ca/DevelopmentApplications/associatedApplicationsList.do?action=init&folderRsn=2484738)

No further details are provided, so I guess we'll have to wait and see ~

For anyone who's seriously interested in this project, call the City's Planner to find out more, Mark Chlon @ 416.395.7137
 
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Does anyone know when the Agreement of Purchase and Sale will be released for signing since there seems to be progress with the Sales office.
 

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