condoboy said:
cdr...you forgot to divide the units that remain unsold in his projects to get the average % of units that are unsold which would be 410/4 = 102 divided by 281 units which equals 36%....a much more realistic number of average units that remain unsold for Freed!
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Please RE-READ the comments ... I was NOT referring to the average % unsold per project.

Follow the math again ... then you'll understand what I mean.
 
Another important point is that most developments can cover all costs at ~75% sold - the rest is 100% profit. So for freed, he is at the point on most of his projects that he doesn't have to sell any more units to cover costs. This is a sweet spot where it makes sense for him to start another project (i.e. Fashion House), as he no longer has any risk of loss with his existing projects.

Also, FYI - I heard today that 550 Wellington and 75 Portland are now both at ~80% sold.
 
cdr108 said:
Please RE-READ the comments ... I was NOT referring to the average % unsold per project.

Follow the math again ... then you'll understand what I mean.
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You took the total # of units that remain unsold and compared it to the average # of units per project. Sorry....but this doesn't tell you anything. It doesn't make sense to compare the actual # of units while only taking the average number of units...you have to compare apples to apples.
 
Another important point is that most developments can cover all costs at ~75% sold - the rest is 100% profit.
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That depends somewhat on the original pricing of the units. For example, maybe some of the most expensive units are the last to sell (penthouses, townhouses, etc), with the less expensive units selling first.

FashionHouse will be a difficult building to put up given the space it is fitting into and its size. And going by what happened at 455 Adelaide, a building that was a year late in finishing, FashionHouse will be slow to go up - much slower than a CityPlace highrise.
 
condoboy said:
You took the total # of units that remain unsold and compared it to the average # of units per project. Sorry....but this doesn't tell you anything. It doesn't make sense to compare the actual # of units while only taking the average number of units...you have to compare apples to apples.
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Hence, the added comments that followed if you bothered to read further:

If it's feasible, I would suggest that he would be better off getting all his FashionHouse purchasers into suites in his other buildings at the same $psf or even slight discount to get those off his inventory.

Even after all of that, he would still have 49 units left [(101+64+64)-180)], and FashionHouse would still be empty ! ! !
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I noticed that you haven't made any comments about projects besides your enthusiam that the market is strong and prices will rise 25+% for the next 5 years ... how many properties did you buy into and are hoping to assign/sell off to UT members in the coming weeks ???


joel in to said:
Another important point is that most developments can cover all costs at ~75% sold - the rest is 100% profit. So for freed, he is at the point on most of his projects that he doesn't have to sell any more units to cover costs. This is a sweet spot where it makes sense for him to start another project (i.e. Fashion House), as he no longer has any risk of loss with his existing projects.

Also, FYI - I heard today that 550 Wellington and 75 Portland are now both at ~80% sold.
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Good to know joel in to ... I like his projects so I would hate to see him succumb to a dramatic change in the markets.

Personally, I would rather have the $$$ in the bank now than wait for an unknown period of time for the other units to be sold. As they say, cash is king.
 
cdr108 said:
Hence, the added comments that followed if you bothered to read further:




I noticed that you haven't made any comments about projects besides your enthusiam that the market is strong and prices will rise 25+% for the next 5 years ... how many properties did you buy into and are hoping to assign/sell off to UT members in the coming weeks ???

Good to know joel in to ... I like his projects so I would hate to see him succumb to a dramatic change in the markets.

Personally, I would rather have the $$$ in the bank now than wait for an unknown period of time for the other units to be sold. As they say, cash is king.
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I haven't made any comments because all projects in my eyes are good projects in the city of Toronto. You can find beauty in any one of the projects that are either under construction, constructed, or at the pre-construction stage.
That's the difference between you and I cdr...I'm on here cuz I love the city of Toronto...not because I want to make any money off of anyone!
 
condoboy said:
I haven't made any comments about any one project because they are all GOOD! Any growth is good growth in Toronto and beauty can be found in any one of the projects either constructed, under construction, or at the pre-construction stage...
That's the difference between you and me cdr....I'm on here cuz I love the city of Toronto....not because I want to make money off of anyone!
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There you go again ... not fully reading the comments and putting words in other peoples' mouths.
 
cdr108 said:
There you go again ... not fully reading the comments and putting words in other peoples' mouths.
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This is what you said cdr...." how many properties did you buy into and are hoping to assign/selloff to UT members in the coming weeks??? ".

Those are your words!!! Why don't you clarify what you meant by that? If you are a man of your word!
 
condoboy said:
This is what you said cdr...." how many properties did you buy into and are hoping to assign/selloff to UT members in the coming weeks??? ".

Those are your words!!! Why don't you clarify what you meant by that? If you are a man of your word!
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And by this you implied ???
condoboy said:
That's the difference between you and I cdr...I'm on here cuz I love the city of Toronto...not because I want to make any money off of anyone!
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Whatever it is that you guys are going on about here, move on, or your time on UT will be up.

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This property was combined with 570 King West and became Fashion House.

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This property was combined with 560 King West and became Fashion House.

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There was some big event going on in the sales centre tonight. It was all lit up and about a hundred people were crammed in there. They also had a logo backdrop for red carpet style photography outside. There's a big glowing orange Joe Fresh Style logo on the west wall of the sales centre (you might recognize the Joe brand clothing stores that are paired with Loblaws Supercentres).

I guess it was one of Freed's parties for buyers ... sponsored by Joe? I don't get it. :confused: Maybe Joe is going to be a tenant in the commercial space?
 
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