Real Estate

8 Wellesley "Luxury Condos" - Another Centrecourt Project

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  • Jan 11th, 2021 12:17 am
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8 Wellesley "Luxury Condos" - Another Centrecourt Project

Just got the Realtors Event Invite for this for November 12

Looks like these old buildings are going to get torn down and turned into a condo...
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Screen Shot 2020-11-02 at 11.14.11 AM.png
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I've personally lost all faith in CentreCourt after the disaster that was 199 Church....but location interests me here...

Not holding my breath but lets see if they can price this one more reasonably....
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The location is phenomenal geographically. Next to U of T and Ryerson, but also close to Yorkville and Financial District.

CentreCourt has marketing geniuses working for them. This will be higher than we all expect and I fully expect it to sell out.
Called the bottom.
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CondoMan98 wrote: The location is phenomenal geographically. Next to U of T and Ryerson, but also close to Yorkville and Financial District.

CentreCourt has marketing geniuses working for them. This will be higher than we all expect and I fully expect it to sell out.
My thoughts exactly...I absolutely love the location....but I can't see this coming in at any reasonable price point.
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deal_with_singh wrote: Just got the Realtors Event Invite for this for November 12

Looks like these old buildings are going to get torn down and turned into a condo...
.
Screen Shot 2020-11-02 at 11.14.11 AM.png
.

I've personally lost all faith in CentreCourt after the disaster that was 199 Church....but location interests me here...

Not holding my breath but lets see if they can price this one more reasonably....
Why was 199 Church a disaster?

I feel like the prices on these are not going to be cheap and probably 1300-1400 PSF
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cleardevil wrote: Why was 199 Church a disaster?

I feel like the prices on these are not going to be cheap and probably 1300-1400 PSF
They priced 199 Church at >$1500/sqft....it was in the middle of "Downtown Ghetto" where resale values were barely touching $1k/sqft at the time. Thats a 50% premium to resale.

On top of that the buildings were completely basic, almost no amenities. Not even a balcony on any of the units.
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cleardevil wrote: Wow and did they sell out?
I stopped following it when they claimed 80% sold, but I'm assuming they did or are very close to it.
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Wow if 199 Church sold @ 1500 PSF, I can't imagine them selling it for that.

But with the current condo market situation, if they have prices at 1600-1700 PSF, wonder if people will bite.
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prime prime prime location. interesting to see what will be the price point. $1300 psf in this climate. if not, pass.
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For me this is not prime prime prime. For me, Minto yorkville park/Shangri la/berczy/88 Scott/the terminal/theater park are prime prime prime. Wellesley is so far from that. Don’t know what the hell you guys are smoking. I used to work at the timothys at yonge/Wellesley when I first moved to Toronto and the crap I saw. For me, this is a 6/10 location at best. Do you guys think Whoopi is a stunner as well? Different strokes I guess.
Last edited by my_sir on Nov 2nd, 2020 2:23 pm, edited 1 time in total.
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This area was prime pimp alley in an earlier era, with the johns driving around the block looking for pickups Electric Light Bulb
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I think this will be more than 199 Church, for sure.

For fun, I’ll take a guess.


$1,650-1,750 a foot.
Called the bottom.
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Oh no where will I go for my DT Rub and tug now?
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This is definitely prime location, but $1,700 a foot is passable.
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CondoMan98 wrote: I think this will be more than 199 Church, for sure.

For fun, I’ll take a guess.


$1,650-1,750 a foot.
I wouldn't put it past Centrecourt...I'd guess $1600/sqft ...they're really marketing this hard as a super luxury "elite" building so maybe it ends up closer to $1700.....

The actual sales launch for this seems to be in 2021 so who knows...will post whatever I find out in the Realtor VIP launch next week.
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AT LEAST 1600$ per sqft. they are advertising as luxury as well.
Did you just see the remaining units they released at 199 church???
They have a studio on the 51st floor priced at 1700$ per sqft.
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oasis100 wrote: AT LEAST 1600$ per sqft. they are advertising as luxury as well.
Did you just see the remaining units they released at 199 church???
They have a studio on the 51st floor priced at 1700$ per sqft.
Yep, and I don't think they'll have any issues selling, but I can't justify this massive premium. Resale in Downtown is the way to go currently.
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$1700 psf - that's $935K for a 550 sf 1 bdrm condo with no parking. Thanks, but no thanks.
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It would make no sense to buy these for investment reasons. There is no upside. and there is no rental rate that can justify even the 1 bedroom.
This isn't a luxury address. This isn't like Yorkville where you can justify the pricing. But I am sure there are suckers who will buy .
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All hype. I see no decent return on it until my hair turn grey.

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