$1,100/Ft To $613/Ft Condo Price SLASH!

Added: 2026-05-24

[00:00:00]Pre-con, in 2024, they had 15% of leftover inventory that they held to sell when the building's completed with the intention they were going to get more money. So, at pre-con, this was selling at about 1,100 bucks per square foot. And now they have these 15 units, there's no way they can get 1,100 bucks per square foot. This is just outside of Toronto. I just bought a penthouse unit inside that building for 613, for $613 per square foot, Tarion warranty, no development fees, no development, nothing. How big? Tell us about it.

[00:00:30]What's the unit like?

[00:00:31]>> The unit's phenomenal. It's So, here's what I can tell you. This is not a shoebox, this is not a dog crate. This is a boutique four-story condo, like beautiful place, perfect for downsizers.

[00:00:41]But 613 per square foot when they were going for 1,100 bucks a foot. It seemed It seemed It seemed That seems like a good price. Like that seems like the right price. It doesn't seem like that's cheap. It seems like that's what it should be going for outside of the city.

[00:00:54]So, for us, that was a no-brainer because comparable resale inventory right now in that area is about 700 bucks per foot, if not more. For resale, not brand new, 10-20 years old. So, we're buying a brand new Now, just just caveat here. Originally, we were going to buy this unit at I can't remember, I think it was close to 680, but with the HST rebate that came, they knocked off the entire HST. So, that saved us about 80 grand. Now, obviously, that thing is still in limbo. It's not legislated, so we had to do a whole thing with the lawyer to make sure that we capture the whole thing, otherwise, we're not going to we're not going to close on the unit, right? But that's just an example of an end user unit where the math is mathing.

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