karledice said:
Well, have you factored in all the closing costs? There's legal fees, city levies (could be thousands), and water connecting etc.

I am not familiar with this builder and vaguely remember they're from China and this is their first residential project in Toronto so there's no precedent building to compare the build quality from this developer...also take that into account...may want to do some more research...
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Thank you, there is not much to research from. Maybe I can look into their buildings in other countries. There is going to be a hotel in the same building as well.
 
Check which limits are placed on levees and development charges. Usually the buyer will get them capped to something reasonable which can control your closing costs. However, some people chose not to negotiate anything and concede to the original wording of the builders contract.

All of the other fees should be outlined in the contract.

A real estate lawyer will be able to tell you everything.
The building looks nice, but I never bought an assignment there (looked at one) nor pre-construction due to the builder not having any reputation in Canada at all. That's not to say it means it will be bad at all......
 
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bk006 said:
Thank you, there is not much to research from. Maybe I can look into their buildings in other countries. There is going to be a hotel in the same building as well.
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I would wait a bit, PDIs are taking place and people are starting to move in this month, you’ll be able to view the units and quality of work soon. Supposedly one of the biggest developers in China and in the world, but yes still a big risk as it’s their first project here. As for closing costs, development fees were capped around $6000 for one bedrooms, $8500 for 2 bedrooms, total closing costs for my unit are estimated to be in $20-30k range including Land transfer taxes and everything, which is probably why there is a slight discount compared to nearby buildings - so expect to pay that if you purchase here, closing will likely take place around Fall 2020. If you’re comparing prices in this building to Nobu or Bisha or Theatre tower then yes this is likely cheaper, this is probably more in line with prices at the Mercer next door. The hotel portion looks like it will be in the old Westinghouse building, which is actually not connected to the 2 residential towers and will have separate entrances as well so hotel guests will not be in the residential lobbies if that is your concern. One downside I found with this building is the pool is shared with hotel guests. hope that helps
 
PDIs are taking place this month, a listing went up on Realtor.ca - photos taken from there, interiors look ok, not a fan of the colour scheme.

#810 -355 King St W, Toronto, ON, M5V 1J6 - condo for sale | Listing ID C4669676 | Royal LePage

1+1 beds, 1 bath Condo for sale at #810 -355 King St W, Toronto, ON, M5V 1J6. View details for this property in Toronto, including photos, nearby schools, commute time, amenities and more.
www.royallepage.ca www.royallepage.ca


233A117F-99B9-4A1C-ACA2-99B028BA74B1.png
FAF4940D-D586-4680-8473-4D751CB5471E.png
52DAE35F-DF22-42EF-ABE3-8B5BB5D03FA5.png
 
dannnnn said:
PDIs are taking place this month, a listing went up on Realtor.ca - photos taken from there, interiors look ok, not a fan of the colour scheme.

#810 -355 King St W, Toronto, ON, M5V 1J6 - condo for sale | Listing ID C4669676 | Royal LePage

1+1 beds, 1 bath Condo for sale at #810 -355 King St W, Toronto, ON, M5V 1J6. View details for this property in Toronto, including photos, nearby schools, commute time, amenities and more.
www.royallepage.ca www.royallepage.ca
View attachment 233515
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wheres the stove? if that space is where the stove is, then theres no counter space?
 
dannnnn said:
PDIs are taking place this month, a listing went up on Realtor.ca - photos taken from there, interiors look ok, not a fan of the colour scheme.

#810 -355 King St W, Toronto, ON, M5V 1J6 - condo for sale | Listing ID C4669676 | Royal LePage

1+1 beds, 1 bath Condo for sale at #810 -355 King St W, Toronto, ON, M5V 1J6. View details for this property in Toronto, including photos, nearby schools, commute time, amenities and more.
www.royallepage.ca www.royallepage.ca


View attachment 233514View attachment 233515View attachment 233516
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Wow! That is a tiny kitchen! Theres literally no room to put a toaster lol
 
Hi guys, i suppose we are all still in "interim occupancy period" ,how much roughly is occupancy fee , per month (and your unit size) ?
 
love0715 said:
Hi guys, i suppose we are all still in "interim occupancy period" ,how much roughly is occupancy fee , per month (and your unit size) ?
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my occupancy fee is about 2150 for 791 square feet. The mortgage rate they use is about 3.2%.
 
dannnnn said:
my occupancy fee is about 2150 for 791 square feet. The mortgage rate they use is about 3.2%.
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Thanks ! Are you on south tower ?

I saw on realtor.ca there are posting of at least 5 units for rent (115 blue jays way). I thought that is not allowed by builder during interim occupancy period.
 
love0715 said:
Thanks ! Are you on south tower ?

I saw on realtor.ca there are posting of at least 5 units for rent (115 blue jays way). I thought that is not allowed by builder during interim occupancy period.
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Yeah I’m in south tower, it is allowed for some people who bought when they had the promotion I think in early 2015.
 
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