TEK Tower (30 Francis) | 45 fl | U/C

[CP42]

Disgusting

[KingandWeber]

Assuming IN8 manages to sell out this building, and I won't be made a fool and predict otherwise, I would be absolutely fascinated to know who is buying these units. If you even did a cursory search of Realtor.ca you'd see these prices are way off-market so it has to be some kind of investor with lots of cash and very little market knowledge. I'm honestly amazed by the sheer audacity of their pricing.

[Lebronj23]

They look to be selling fast from the website. Definitely marketed as a good deal towards Toronto investors, the sales office is in Toronto as well. But I reckon the rent needing to be charged is astronomical and far and above the current market, $841,000 for a 1 bdrm, my goodness what a joke

[CP42]

They look to be selling fast from the website. Definitely marketed as a good deal towards Toronto investors, the sales office is in Toronto as well. But I reckon the rent needing to be charged is astronomical and far and above the current market, $841,000 for a 1 bdrm, my goodness what a joke

I just don’t understand what rational person would purchase without looking at the market that the property is actually in…

[taylortbb]

They look to be selling fast from the website. Definitely marketed as a good deal towards Toronto investors, the sales office is in Toronto as well. But I reckon the rent needing to be charged is astronomical and far and above the current market, $841,000 for a 1 bdrm, my goodness what a joke

I just don’t understand what rational person would purchase without looking at the market that the property is actually in…

Some people have a near-religious belief that property only ever appreciates. I debated this extensively with an ex girlfriend, and despite her being an accountant, she had an absolute belief that in the long run property would always be a good investment and appreciate. Her entire extended family shared that belief, and invested accordingly. Given they've been investing in southern Ontario since the 90s, they certainly so far have done quite well.

If that's your priors going in... the price doesn't really matter. I suspect their views are hardly unique.

Also, lots of Toronto people just see KW as the new Mississauga, Milton, etc. The next stage of the GTA's growth. They don't really view it as a separate city, so they likely believe they have looked at the market, because they've looked at the GTA.

[nms]

I guess if you are banking on renting to a nearby Google employee, then you might be able to recoup your investment.

[cherrypark]

Prices seem like lunacy. When 2021 build 1BD units at 100 Vic are selling for $520k closed and with current interest rates a TEK Tower 1BD unit would be $3000-3500/mo for breakeven? Have I completely missed what current rent rates are?

[Joedelay Highhoe]

WTF

$752K for 352 square feet???? That's more than 2K per square foot.

[Momo26]

Welcome to #condolyfe

[ac3r]

WTF

$752K for 352 square feet???? That's more than 2K per square foot.

Simplified like that it's almost amusing, even though it's disgusting. If real estate was down to square footage alone, I could make a couple million selling my garage and backyard, nevermind the rest of the house!

[tomh009]

Assuming IN8 manages to sell out this building, and I won't be made a fool and predict otherwise, I would be absolutely fascinated to know who is buying these units. If you even did a cursory search of Realtor.ca you'd see these prices are way off-market so it has to be some kind of investor with lots of cash and very little market knowledge. I'm honestly amazed by the sheer audacity of their pricing.

The case they will be making (or the agents will be making) is that by the time you take possession in 2026 (or so), the market will have moved up by that much already. And you don't have to pay (very much) now ...

[tomh009]

WTF

$752K for 352 square feet???? That's more than 2K per square foot.

Without seeing the floor plans, the pricing doesn't make any sense, and not only because it's ridiculously high. The 352 sqft studio is $750K, but a 568 sqft 1BR+D is only $50K more? Is there something special about the studio that makes it so expensive?

[Spokes]

What the actual fuck is up with those prices. Umm seriously?

[ac3r]

Work has officially started on this project, sadly.

[Lebronj23]

We have action. I got chatting with the site super he said they are testing the water table levels, then will begin shoring/digging in a 2-3 weeks. He also said Ziggy’s sold, didn’t have anymore info about it though