Real Estate

ANX Condo by Freed - 328 Dupont Street

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  • Oct 26th, 2019 7:58 pm
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[OP]
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Nov 10, 2017
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ANX Condo by Freed - 328 Dupont Street

I heard launch date is Oct 30. Any thoughts ?
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Dec 16, 2015
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Skynet Institute of …
$2k psft to the m00n
To the moon
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Feb 29, 2008
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This is a luxury condo though so should be compared with other luxury condos. Freed does a nice job in terms of design. You’ll get nice looking finished and his properties tend to command higher prices and higher rents. I won’t talk about reputation, you can research that yourself. Go check out his completed projects.

I do think marketing for these projects is funny. Talking about great place for students. Average worker can’t afford these condos yet the averag student can? The marketing just not based in reality.
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Nov 5, 2018
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JayLove06 wrote: This is a luxury condo though so should be compared with other luxury condos. Freed does a nice job in terms of design. You’ll get nice looking finished and his properties tend to command higher prices and higher rents. I won’t talk about reputation, you can research that yourself. Go check out his completed projects.

I do think marketing for these projects is funny. Talking about great place for students. Average worker can’t afford these condos yet the averag student can? The marketing just not based in reality.
Freed’s ANX and Alterra’s Annex project are both expensive boutique buildings. I don’t think they are meant for investors.
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CondoMan98 wrote: Freed’s ANX and Alterra’s Annex project are both expensive boutique buildings. I don’t think they are meant for investors.
Just curious why not for investors?
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MotoCross817 wrote: Just curious why not for investors?
Because you will never break even on it! Losing money is not what a smart business person would do!!!
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CondoMan98 wrote: Freed’s ANX and Alterra’s Annex project are both expensive boutique buildings. I don’t think they are meant for investors.
I think every project has investors in mind. Some are only for investors, while others may be geared to end users but you'd be foolish as a builder to not want to market to investors as well. Just a different kind of investor. I have to see the pricing and layouts. I have no doubt there are smaller 1 beds there around $600K.

Don't underestimate the dumb investors out there. There are many. I was at a sales center up north for a luxury wownhouse project. $1M+ Sales person told me some of the buyers were investors and both of us had no idea why.
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JayLove06 wrote: I think every project has investors in mind. Some are only for investors, while others may be geared to end users but you'd be foolish as a builder to not want to market to investors as well. Just a different kind of investor. I have to see the pricing and layouts. I have no doubt there are smaller 1 beds there around $600K.

Don't underestimate the dumb investors out there. There are many. I was at a sales center up north for a luxury wownhouse project. $1M+ Sales person told me some of the buyers were investors and both of us had no idea why.
Fair enough. But the market is very frothy right now. I’m pretty risk averse, so I don’t understand the rationale of paying more than $1,200. This isn’t like stocks...leverage is typically implicit in these RE investments, so if they don’t pan out, the bite will sting.
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Feb 29, 2008
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CondoMan98 wrote: Fair enough. But the market is very frothy right now. I’m pretty risk averse, so I don’t understand the rationale of paying more than $1,200. This isn’t like stocks...leverage is typically implicit in these RE investments, so if they don’t pan out, the bite will sting.
I don't understand it either, but emotional people do weird things. I still think there are a lot of people who feel their investment will double in the next 5 years...like good ole times are here. These aren't the people that study the market. They are people that listen to agents and read stories on blogto about housing going through the roof.

Anyways, everytime I say there's no way prices can go further...they do. People are somehow finding a way. Probably eating ramen every day.
[OP]
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For ANX - Freed, prelim data is showing the entrance price is $500s and out of the 105 units, there will be 17x1B, 69x2B, 19x3B

For 321 Davenport - Alterra, prelim data is showing the entrance price is $2.5M and out of the 23 units, there will be 1x1B, 15x2B, 7x3B.

So, I agreed that 321 Daverport - Alterra no doubt is an ultra luxtury condo, however, ANX should be an interesting project to keep an eye on from investing point of view. That being said, i think management fee will be on the higher side due to smaller spread of total number of units.

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