Attached is the first sales sheet. Enjoy.
 

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WeirdFishes said:
Attached is the first sales sheet. Enjoy.
Click to expand...

These are generally about the same size as the units at X less missing 2+den models. At these prices points, I'm willing to bet they'll move well (pink sales office notwithstanding). Perhaps the top six floors will be the larger, primo suites.
 
looks to be around $470-480 sq/ft?

Kind of expensive for preconstruction, -but I guess location location location.
 
kennyx said:
looks to be around $470-480 sq/ft?

Kind of expensive for preconstruction, -but I guess location location location.
Click to expand...

It is a good location, though not a great one. Will be great in a decade. And $470 is a starting price for the 3rd floor. That's pretty high. The sheet doesn't say if it includes HST as many developers are NOT including it in their prices. I think we have to be careful and start including not only HST in our PSF, but also closing costs as those have doubled in the last 7 years and can contribute substantially to PSF price and what someone would need to sell for in order to break even. As an example, if we look at the London model on the 3rd floor at $299 900 for 642 sf, we'd assume it's $467.27/ft, but add in Pkg, Locker and 5% closing costs (conservative) and that unit now costs approximately $358 207.50 or $557.96 psf. That's a $90 jump and too much imo. Right now, there's no way you could sell it for that. Again, the buyer is assuming the market will go up, but getting nothing for the risk as the builder has taken all the margin away.
 
simuls said:
It is a good location, though not a great one. Will be great in a decade. And $470 is a starting price for the 3rd floor. That's pretty high. The sheet doesn't say if it includes HST as many developers are NOT including it in their prices. I think we have to be careful and start including not only HST in our PSF, but also closing costs as those have doubled in the last 7 years and can contribute substantially to PSF price and what someone would need to sell for in order to break even. As an example, if we look at the London model on the 3rd floor at $299 900 for 642 sf, we'd assume it's $467.27/ft, but add in Pkg, Locker and 5% closing costs (conservative) and that unit now costs approximately $358 207.50 or $557.96 psf. That's a $90 jump and too much imo. Right now, there's no way you could sell it for that. Again, the buyer is assuming the market will go up, but getting nothing for the risk as the builder has taken all the margin away.
Click to expand...

it says "all prices quoted include HST".
 
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dt_toronto_geek said:
These are generally about the same size as the units at X less missing 2+den models. At these prices points, I'm willing to bet they'll move well (pink sales office notwithstanding). Perhaps the top six floors will be the larger, primo suites.
Click to expand...

judging from the floorplans ... there will not be larger suites on floors 37-42 in X2 unlike X condos .... 'typical' floor plates + suite designs will be offered up to the top, it is just that floors 37-42 are simply being 'held back' for a later release or something ~

See Floorplans Here:
http://www.bakerrealtypartners.com/x2condos/downloads/x2_floorplans.pdf

  • floors 1-2 = lobby + grade retail
  • floors 3-8 = podium suites
  • floor 9 = amenities
  • floors 10-42 = tower suites
Some food for thought:
Click to Enlarge
 
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simuls said:
It is a good location, though not a great one. Will be great in a decade. And $470 is a starting price for the 3rd floor. That's pretty high. The sheet doesn't say if it includes HST as many developers are NOT including it in their prices. I think we have to be careful and start including not only HST in our PSF, but also closing costs as those have doubled in the last 7 years and can contribute substantially to PSF price and what someone would need to sell for in order to break even. As an example, if we look at the London model on the 3rd floor at $299 900 for 642 sf, we'd assume it's $467.27/ft, but add in Pkg, Locker and 5% closing costs (conservative) and that unit now costs approximately $358 207.50 or $557.96 psf. That's a $90 jump and too much imo. Right now, there's no way you could sell it for that. Again, the buyer is assuming the market will go up, but getting nothing for the risk as the builder has taken all the margin away.
Click to expand...

You're assuming that our re values are artificially high. What if you're wrong and this is really what the market is worth, and what the market can bear? If prices continue to rise steadily like they have, there will be plenty of margin when purchasers decide to sell their unit. I just don't see how you can make such a bold and generalized statement like "there's no way you could sell it for that". How are you so sure?
 
cdr108 said:
it says "all prices quoted include HST".
Click to expand...

Thanks for catching that. When doing my math I'd assumed they were included.

MadMax said:
You're assuming that our re values are artificially high. What if you're wrong and this is really what the market is worth, and what the market can bear? If prices continue to rise steadily like they have, there will be plenty of margin when purchasers decide to sell their unit. I just don't see how you can make such a bold and generalized statement like "there's no way you could sell it for that". How are you so sure?
Click to expand...

I can be so sure because if you look at what current resale prices are in that area and in equivalent buildings, they are selling for about $500/ft or less if they're on the lower floors. Also, this has been a phenomenal RE run - don't get me wrong, I've made a bunch and until very recently was bullish on condos - but it simply can't continue the run it's had and is currently only being bolstered by phenomenally low interest rates. Not only will those have no place to go but up, but we are also poaching future sales. It is possible that by 2015 when this is built, we'll be around the price being paid, but making profit off flipping it will be unlikely. Also, to make any decent return as a rental, you'd need to charge about $2100/month for this unit or almost 40% more than the current going rate. IMO it's just not sustainable and this would be a bad and tremendously risky investment.
 
simuls said:
Thanks for catching that. When doing my math I'd assumed they were included.



I can be so sure because if you look at what current resale prices are in that area and in equivalent buildings, they are selling for about $500/ft or less if they're on the lower floors. Also, this has been a phenomenal RE run - don't get me wrong, I've made a bunch and until very recently was bullish on condos - but it simply can't continue the run it's had and is currently only being bolstered by phenomenally low interest rates. Not only will those have no place to go but up, but we are also poaching future sales. It is possible that by 2015 when this is built, we'll be around the price being paid, but making profit off flipping it will be unlikely. Also, to make any decent return as a rental, you'd need to charge about $2100/month for this unit or almost 40% more than the current going rate. IMO it's just not sustainable and this would be a bad and tremendously risky investment.
Click to expand...

What are comparable buildings in the area? There aren't any...You should vist CASA and BSN's sales office, or dig up prices on X1. Or venture down a couple blocks and compare with Crysal Blu , Uptown and U. You will then see that X2 is probably appropriately priced.
 
Hi there,

I'm new to buying condos so please forgive the newbie question but am I right in assuming that if I wanted to buy a 1 bedrm, ie Baldwin for 267,990, in addition to the 3k with offer, I would need to make a downpayment of 15% of 267,990 = 40,199 within 6 months? Could anyone confirm that I must have a pre-approval from a bank when I sign the agreement? It's just that I don't think I could qualify based on those numbers right now but by the time the unit is ready, I probably would qualify then (more money saved, salary increase, etc). Any info would be appreciated. Thanks.
 
I would agree with condo observer. It's pretty hard to compare anything in the area since there are very little new builds in the area. My guess based on the preview price is that it is pretty accurate and still leaves some room for profit though margins may not be as healthy as earlier years
 
I looked at the features and I have to say for those of us who bought into X1, it is not fair. X2 gets upgrades as standard (i.e. stainless steel package, integrated hood fan, corian sink in 2nd bath). X1 purchasers had to fork out $$ for those same upgrades...:mad:

tissot said:
Did some snopping around and found a bunch of stuff here.

www.bakerrealtypartners.com/x2condos

Pricelist in color

http://www.bakerrealtypartners.com/x2condos/downloads/baker_agentsheet.pdf

Floorplans

http://www.bakerrealtypartners.com/x2condos/downloads/x2_floorplans.pdf

Brochure

http://www.bakerrealtypartners.com/x2condos/downloads/x2_brochure.pdf
Click to expand...
 
Imti said:
I looked at the features and I have to say for those of us who bought into X1, it is not fair. X2 gets upgrades as standard (i.e. stainless steel package, integrated hood fan, corian sink in 2nd bath). X1 purchasers had to fork out $$ for those same upgrades...:mad:
Click to expand...

And they have 9ft ceilings standard.

However, X2 is priced much higher.
 
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