Tribune condos – Tribune Tower http://tribunetower.info/ Wed, 11 May 2022 08:51:54 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://tribunetower.info/wp-content/uploads/2021/11/tribune-120x120.png Tribune condos – Tribune Tower http://tribunetower.info/ 32 32 Owners of damaged condos near the light rail line could see relief https://tribunetower.info/owners-of-damaged-condos-near-the-light-rail-line-could-see-relief/ Sun, 08 May 2022 18:23:21 +0000 https://tribunetower.info/owners-of-damaged-condos-near-the-light-rail-line-could-see-relief/ A proposal in the state Legislature would protect owners of the Cedar Isles condominium complex in Minneapolis who say construction of the Southwest Light Rail Line damaged their property. Introduced by Sen. Scott Dibble, DFL-Minneapolis, an amendment to the omnibus transportation bill would partially compensate condo owners for damages caused by construction of the 14.5-mile […]]]>

A proposal in the state Legislature would protect owners of the Cedar Isles condominium complex in Minneapolis who say construction of the Southwest Light Rail Line damaged their property.

Introduced by Sen. Scott Dibble, DFL-Minneapolis, an amendment to the omnibus transportation bill would partially compensate condo owners for damages caused by construction of the 14.5-mile line between Minneapolis and Eden Prairie.

The effort comes as the contractor for the $2.7 billion light rail project prepares to resume work near the condos later this month.

Construction of a tunnel wall was halted in late January after residents of Cedar Isles discovered cracks in the walls and floors of condo towers. Originally built as grain silos in the early 20th century, the structure was converted to residential use in the 1980s.

Although a forensic engineer hired by the Metropolitan Council has assured residents that the construction of the light rail was not the likely cause of the cracking, many Cedar Isles residents are deeply concerned that more damage could occur a once the construction is accelerated. In some places, the Southwest Train Tunnel is within inches of the condo building foundation.

“People living [at Cedar Isles] are extremely frustrated,” Dibble said. “They can’t even bring in real estate agents if they want to sell their house; they are told it cannot be listed.”

Dibble’s amendment was approved last week. While there is no guarantee it will pass in the final hours of the legislative session, it appears to have bipartisan support.

“Your home is probably the greatest asset you have in your life,” said Sen. Scott Newman, R-Hutchinson, chairman of the Senate Finance and Transportation Policy Committee, which supports Dibble’s amendment. “Imagine the government coming in and all of a sudden your house is worth nothing,”

All costs associated with the amendment will be borne by the Southwest Project – not the state. The project’s budget exploded in part due to the complicated construction of the tunnel in the Kenilworth Corridor.

In January, the council said the overall cost of the project would climb by $450 million to $550 million, for a total of $2.75 billion, making it the costliest public works project in the history of the city. the state. The project is approximately 60% complete.

Dibble’s amendment calls on the Met Council, which is building the line, to compensate condo owners in Cedar Isles for the devaluation of their property related to the construction of the light rail. Condos must be reappraised by a Minneapolis or Hennepin County real estate appraiser by January 1, 2023.

The council must ensure that the work on the southwest will not cause further damage to condos in Cedar Isles and that the units will remain safe to occupy, according to the amendment. The board must also engage a third party approved by the condo board to repair damage deemed to have been caused by the construction of a light rail transit.

The amendment also requires the council to provide free office space to Cedar Isles residents who can no longer work from home due to Southwest construction disruptions.

And the council must reimburse the condominium association for all the costs it has incurred in recent years to hire engineers and lawyers for expert advice on the construction of the southwest – a bill that has risen at around $250,000 so far.

“We are very grateful for that,” said Russ Palma, a Cedar Isles resident and vice president of the condo association. “We really have to counter that David and Goliath feeling that we have with the Met Council. We’re worried about being crushed by the council. They have so many resources that we don’t have.”

In a statement, a spokesperson for the Met Council said: ‘We are aware of the recently passed amendment and are currently analyzing the wording.

There seems to be some disagreement on what caused the cracking.

Socotec Engineering Inc., a company hired by the council to investigate damage to the condo, said 75% of the cracks resulted from “seasonal temperature changes” that caused the structure to move. The situation was exacerbated by the support system used when the towers were renovated 40 years ago, the company concluded.

The construction of the southwest line was one of four factors contributing to 25% of the building movement, according to Socotec. Others were wind, vibration from nearby freight trains, and deferred maintenance.

“We believe the building movement has been happening for a while,” said Robert Vecchio, CEO of Socotec Engineering, at a recent presentation to condo owners that was not open to the public. A recording was made available to the Star Tribune by a resident present.

“The cracking has been there for a while and may have become evident over the past few months,” Vecchio said.

The 90-minute meeting was tense at times, as several owners seemed skeptical of the company’s findings. As one resident put it, “These findings defy logic and defy science.”

]]>
Condos sold: $446,500 in Etobicoke, $815,000 in Davisville Village https://tribunetower.info/condos-sold-446500-in-etobicoke-815000-in-davisville-village/ Tue, 03 May 2022 12:01:27 +0000 https://tribunetower.info/condos-sold-446500-in-etobicoke-815000-in-davisville-village/ ETOBICOKE Location: 44 Longbourne Drive, Unit 101, Martin Grove Road. and the Westway Ask for a price: $249,000 Sale price: $446,500 Previous sale price: $135,000 (2015) Cut: approximately 550 square feet Car park: an exclusive underground space, an exclusive locker Maintenance fees: $616.60 per month Taxes: $659.89 (2021) Bedrooms: 1 Bathrooms : 1 Sold: January […]]]>

ETOBICOKE

Location: 44 Longbourne Drive, Unit 101,

Martin Grove Road. and the Westway

Ask for a price: $249,000

Sale price: $446,500

Previous sale price: $135,000 (2015)

Cut: approximately 550 square feet

Car park: an exclusive underground space, an exclusive locker

Maintenance fees: $616.60 per month

Taxes: $659.89 (2021)

Bedrooms: 1

Bathrooms : 1

Sold: January 25/22. Farm: March 31/22.

This one-bedroom condo sold for 179% of the listing price in five days.

“This condo suite in a mid-rise building includes an underground parking space. It features an open concept with laminate floors throughout and an exit to a balcony,” says listing agent Frank Leo.

The building is close to shopping, restaurants, schools, Westgrove Park, Westgrove Ice Rink and Outdoor Pool, Carmen Bush Baseball Field, Richview Park, public transportation and freeway access . 401 and 427.

Building amenities include an exercise room, indoor pool, sauna, gym, party/meeting room, security system and visitor parking.

44 Longbourne Drive #101

The unit has: laminate floors; living room with ceiling fan and walkout to balcony; dining room with exit to balcony; kitchen with tiled floor; master bedroom with track lighting, large window and wardrobe; four piece bathroom.

Listing agent: Frank Leo and Tina Zymeri, Frank Leo & Associates, Re/Max West Realty Inc., Brokerage, 416-917-5466; www.getleo.com

DAVISVILLE VILLAGE

Location: 119 Merton Street, Unit 209,

Yonge St. and Merton St.

Ask for a price: $649,900

Sale price: $815,000

Previous sale price: $630,000 (2009)

Cut: approximately 780 square feet

Car park: a rented space, a locker in property

Maintenance fees: $588.97 per month

Taxes: $2,334 (2021)

Bedrooms: 1 plus 1

Bathrooms : 2

Sold: February 15/22. Farm: March 24/22.

119 Merton Street #209

This Midtown bi-level condo unit sold for 125% off the listing price in six days.

“Part of a well-managed building with a true community spirit, this condo suite has hardwood floors throughout, lots of natural light from soaring windows, a remodeled kitchen with stone countertops, a private deck and access out the back door at Beltline Trail,” says listing agent Lauren Rebecca.

The building is close to shopping, restaurants, schools, Upper Canada College, Kay Gardner Beltline Trail, June Rowlands Park and public transportation.

Building facilities include a party/meeting room, games room, bike storage, security system and visitor parking.

119 Merton Street #209

Main level: living room with hardwood floor and access to the terrace; dining room with hardwood floor; kitchen with granite counters and window; two piece bathroom.

Second level: master bedroom with hardwood floor and double closet; boudoir with hardwood floor and wardrobe; four piece bathroom.

119 Merton Street #209

Listing agent: Lauren Rebecca, Royal LePage Signature Realty, Brokerage, 647-989-6650, www.themillsteam.ca

What They Got: Condos is compiled by freelance contributor Allison Harness, a Toronto-based real estate writer, from publicly available information. Send recent home sales to soldhome@rogers.com. Not all submissions can be used.

]]>
Budget ’22 could shake up resale of pre-built condos https://tribunetower.info/budget-22-could-shake-up-resale-of-pre-built-condos/ Wed, 27 Apr 2022 12:10:21 +0000 https://tribunetower.info/budget-22-could-shake-up-resale-of-pre-built-condos/ The 2022 federal budget has the potential to create a huge upheaval in the pre-construction condominium market. The government intends to reduce what it calls speculative trading in the Canadian housing market. Its target is the resale of purchase contracts signed before the construction or occupation of the house or condo. Currently, when a person […]]]>

The 2022 federal budget has the potential to create a huge upheaval in the pre-construction condominium market.

The government intends to reduce what it calls speculative trading in the Canadian housing market. Its target is the resale of purchase contracts signed before the construction or occupation of the house or condo.

Currently, when a person makes a new home transfer sale, Harmonized Sales Tax may or may not apply, depending on the reason for the purchase of the home. For example, the HST does not apply if the purchaser originally intended to live in the house.

This creates an opportunity for speculators to be dishonest about their original intentions and uncertainty for everyone involved in an assignment sale as to whether the HST applies.

The existing rules also result in the uneven application of the HST to the final price of new homes.

To address these issues, Budget 2022 will make all disposal sales of newly constructed or substantially renovated residential units taxable for HST purposes, effective May 7, 2022.

The HST applies to the price from the builder to the first purchaser, and an additional 13% tax will be imposed on the total price paid by the second purchaser to the original purchaser.

In fact, each disposal sale concluded on or after May 7 will be subject to a tax of up to 26%.

The tax will be paid by the original purchaser of the builder who “rolled over” the agreement to an end user.

For the first buyer to break even, the home or condo must increase in value by 13% HST, 5% real estate commission, and any builder charges to consent to the transfer.

This means that for all sales of new or existing assignments completed on or after May 7, the first 18% of the new price will go to HST and real estate commission, even if the seller ends up in the red.

Will this kill the mission sales market?

John Pasalis is the Official Broker of Realosophy Realty Inc. and a frequent industry spokesperson. He emailed me and said, “If the feds are able to control this and condominium investors have to start giving away 13% of their capital gain to the feds as HST…that is not good for investors who intend to flip their condos.

Jose Manalo is a broker with Sutton Group Realty Systems in Mississauga. He spends much of his time on assignment sales.

I asked him about the impact of budget on mission sales. He replied, “Will this hold back resale prices in the future? I would say no! 13% HST plus 5% commission will simply be added to the investor’s sale price. Some investors will crawl a bit at first, but later it will be just a normal additional cost.

In my opinion, the divestiture market may well come to an abrupt halt next week, but once it adjusts to the new taxes, it may pick up after a while.

Bob Aaron is a Toronto real estate lawyer and contributing columnist for the Star. He can be reached at bob@aaron.ca or on Twitter: @bobaaron2

]]>
Condos sold in Toronto: $798,000 downtown, $830,000 in North York https://tribunetower.info/condos-sold-in-toronto-798000-downtown-830000-in-north-york/ Tue, 26 Apr 2022 11:00:25 +0000 https://tribunetower.info/condos-sold-in-toronto-798000-downtown-830000-in-north-york/ DOWNTOWN TORONTO Location: 55 Center Avenue, Unit 1503, Dundas St. W. and University Ave. Ask for a price: $798,000 Sale price: $798,000 Previous sale price: $700,000 (2019) Cut: approximately 1,100 square feet Car park: one underground space owned, no locker Maintenance fees: $1,128.61 per month Taxes: $2,321 (2021) Bedrooms: 2 Bathrooms : 2 Sold: March […]]]>

DOWNTOWN TORONTO

Location: 55 Center Avenue, Unit 1503,

Dundas St. W. and University Ave.

Ask for a price: $798,000

Sale price: $798,000

Previous sale price: $700,000 (2019)

Cut: approximately 1,100 square feet

Car park: one underground space owned, no locker

Maintenance fees: $1,128.61 per month

Taxes: $2,321 (2021)

Bedrooms: 2

Bathrooms : 2

Sold: March 10/22. Closing: May 31/22.

This condo unit in the heart of the city sold for full listing price in two weeks.

“This spacious condo suite is flooded with sunlight thanks to its floor-to-ceiling windows which also offer spectacular views of the city. Other highlights include a large kitchen with stainless steel appliances, laminate floors throughout and ample storage in the laundry room,” says listing agent Andrew Ipekian.

The building is close to the financial district, shopping, restaurants, schools, hospitals, Art Gallery of Toronto, Nathan Phillips Square, Eaton Center, Ryerson University and public transportation .

Building facilities include concierge, meeting room and visitor parking.

55 Center Avenue #1503

The unit has: living room with laminate flooring; dining room with laminate flooring and bay window; kitchen with tiled floor, granite counter and built-in appliances; master bedroom with wide carpet and en-suite four-piece bathroom; second bedroom with floor mats and closet; three piece bathroom.

Listing agents: Andrew Ipekian and Diana Mendonca, Keller Williams Referred Urban Realty, Brokerage, 416-572-1016; www.ipekian.ca

NORTH YORK

Location: 2 Sonic Way, Unit 902,

Eglinton Ave. E. and Don Mills Rd.

Ask for a price: $729,000

Sale price: $830,000

Previous sale price: $402,518 (2016)

Cut: approximately 737 square feet

Car park: owned underground space, owned locker

Maintenance fees: $557.55 per month

Taxes: $2,312 (2021)

Bedrooms: 2

Bathrooms : 2

Sold: March 6/22. Farm: March 31/22.

2 Sonic Way #902

Selling for 114% off the listing price in two days, this condo unit features a four-seat mobile kitchen island.

“This condo suite has laminate flooring throughout, a kitchen with valence cabinet lighting, and a sleek frameless glass shower enclosure,” says listing agent Karen Law.

The building is close to shopping, schools, Sunnybrook Park, Ontario Science Centre, Aga Khan Museum, Angela James Arena, Flemingdon Park Golf Club, public transportation and access to the Don Valley Pkwy.

Building facilities include concierge, gym, party/meeting room, sauna, security system and visitor parking.

2 Sonic Way #902

The unit has: entrance hall with floating floor, double mirror wardrobe; living room and dining room with laminate flooring; kitchen with stainless steel appliances, backsplash and quartz countertops; master bedroom with floating floor, wardrobe with mirror and three-piece bathroom; second bedroom with floating floor, mirrored wardrobe and large window; four piece bathroom.

Listing Agent: Karen Law, Century 21 Leading Edge Realty, Brokerage, 647-836-2895; www.TorontoRealEstateSpecialists.com.

2 Sonic Way #902
What They Got: Condos is compiled by freelance contributor Allison Harness, a Toronto-based real estate writer, from publicly available information. Send recent home sales to soldhome@rogers.com. Not all submissions can be used.

]]>
How many two-bedroom condos have sold at Ajax and Bay & Bloor https://tribunetower.info/how-many-two-bedroom-condos-have-sold-at-ajax-and-bay-bloor/ Tue, 29 Mar 2022 11:01:33 +0000 https://tribunetower.info/how-many-two-bedroom-condos-have-sold-at-ajax-and-bay-bloor/ AJAX Location: 66 Falby Court, Unit 511, Harwood Ave. S. and Bayly St.E. Asking price: $528,800 Sale price: $675,000 Previous sale price: $176,000 (2012) Cut: approximately 1,059 square feet Car park: an exclusive underground space, an adjoining locker Maintenance fees: $789.25 per month Taxes: $2,490 (2021) Bedrooms: 2 Bathrooms : 2 Sold: February 5/22. Firm: […]]]>

AJAX

Location: 66 Falby Court, Unit 511,

Harwood Ave. S. and Bayly St.E.

Asking price: $528,800

Sale price: $675,000

Previous sale price: $176,000 (2012)

Cut: approximately 1,059 square feet

Car park: an exclusive underground space, an adjoining locker

Maintenance fees: $789.25 per month

Taxes: $2,490 (2021)

Bedrooms: 2

Bathrooms : 2

Sold: February 5/22. Firm: March 17/22.

This two-bedroom condo unit sold for 128% of the listing price in just three days.

“This is a remodeled condo suite in southeast Ajax with cobblestone floors throughout, eat-in kitchen with solid stone countertops and walk-in pantry, and two renovated bathrooms,” says listing agent Jill Fewster-Yan.

The building is close to shops, restaurants, schools, a hospital, a library, a community center, the Ajax GO station, public transport and access to the highway . 401.

Building amenities include an exercise room, outdoor pool, sauna, tennis court, security system and visitor parking.

66 Falby Court.  #511

The unit has: strip floors; living room with walkout to balcony; dining room; kitchen with tiled floor and stainless steel appliances; breakfast room with tiled floor, pantry and window; master bedroom with walk-in closet and adjoining four-piece bathroom; second bedroom with wardrobe; laundry room; four piece bathroom.

Listing Agent: Jill Fewster-Yan, Royal LePage Signature Realty, 416-443-0300, www.jillsteam.ca

BAY & BLOOR

Location: 1121 Bay Street, Unit 304,

Bay and Bloor streets.

Ask for a price: $1,149,900

Sale price: $1,060,000

Previous sale price: $640,000 (2014)

Cut: approximately 1,110 square feet

Car park: one underground space owned, no locker

Maintenance fees: $1,386.30 per month

Taxes: $4,070 (2021)

Bedrooms: 2

Bathrooms : 2

Sold: 15/21 December. Firm: January 10/22.

Selling for 92% of asking price in 22 days on the market, this condo unit is located in the boutique Elev’n 21 Residences building.

1121 Bay Street #304

“This is a completely remodeled corner suite with floor-to-ceiling wraparound windows, nine-foot ceilings, split bedroom, spacious main rooms with lots of natural light, hardwood floors everywhere and a kitchen with a central island,” says listing agent Reza Afshar.

The building is close to shops, restaurants, the University of Toronto, a library, a cinema, parks, the Royal Ontario Museum and public transport.

Building amenities include concierge, gym, party/meeting room, guest suites and visitor parking.

1121 Bay Street #304

The unit has: hardwood floors; living room with bay window; dining room with bay window; kitchen with central island and stainless steel appliances; master bedroom with large window, double wardrobe and adjoining four-piece bathroom; second bedroom with double closet and large window; three piece bathroom.

1121 Bay Street #304

Listing Agent: Reza Afshar, Royal Lepage Terrequity Portfolio Realty, Brokerage, 416-888-7367; www.SellingTorontoCondos.com

What They Got: Condos is compiled by freelance contributor Allison Harness, a Toronto-based real estate writer, from publicly available information. Send recent home sales to soldhome@rogers.com. Not all submissions can be used.
]]>
The selling price of these condos in Victoria Village and Leslieville https://tribunetower.info/the-selling-price-of-these-condos-in-victoria-village-and-leslieville/ Wed, 23 Mar 2022 02:00:04 +0000 https://tribunetower.info/the-selling-price-of-these-condos-in-victoria-village-and-leslieville/ VICTORIA VILLAGE Location: 1700 Eglinton Avenue East, Unit 513, Eglinton Ave. E. and Sloane Ave. Ask for a price: $639,900 Sale price: $725,000 Previous sale price: $210,000 (2003) Cut: approximately 1,131 square feet Car park: owned underground space, owned locker Maintenance fees: $877.33 per month Taxes: $1,920 (2021) Bedrooms: 2 Bathrooms : 2 Sold: January […]]]>

VICTORIA VILLAGE

Location: 1700 Eglinton Avenue East, Unit 513,

Eglinton Ave. E. and Sloane Ave.

Ask for a price: $639,900

Sale price: $725,000

Previous sale price: $210,000 (2003)

Cut: approximately 1,131 square feet

Car park: owned underground space, owned locker

Maintenance fees: $877.33 per month

Taxes: $1,920 (2021)

Bedrooms: 2

Bathrooms : 2

Sold: January 22/22. Closing: April 5/22.

This two-bedroom condo unit sold for 113% off the listing price in a single day.

“This end unit condominium suite has a bedroom layout and exceptional city skyline views from its wrap-around balcony and floor-to-ceiling windows. It also features high quality German laminate flooring and a remodeled kitchen,” says listing agent Karen Law.

The building is close to shopping, schools, Charles Sauriol Conservation Area, Flemingdon Park Golf Club, public transport and access to the Don Valley Pkwy.

Building amenities include concierge, gym, outdoor pool, party/meeting room, sauna and visitor parking.

1700 Eglinton Ave East #513

The unit has: laminate floors; living room with large window and exit to balcony; dining room; kitchen with stainless steel appliances and large window; master bedroom with walk-in closet and adjoining four-piece bathroom; second bedroom with large window and large wardrobe; three piece bathroom.

Listing agent: Karen Law, Century 21 Leading Edge Realty, Brokerage, 647-836-2895; www.TorontoRealEstateSpecialists.com

LESLIEVILLE

Location: 245 Carlaw Ave, Unit 510B,

Carlaw Ave. and Dundas St. E.

Ask for a price: $748,000

Sale price: $980,000

Previous sale price: $417,500 (2014)

Cut: approximately 872 square feet

Car park: a possessed underground space, an adjoining locker

Maintenance fees: $446.37 per month

Taxes: $2,169 (2021)

Bedrooms: 2

Bathrooms : 1

Sold: 24/22 January. Firm: February 28/22.

245 Carlaw Ave #510B

Selling at 131% off the listing price, this condo unit features underfloor heating in the master bedroom.

“This loft-style condo suite in the Wrigley Lofts building has concrete floors and high ceilings, an open concept layout, a modern kitchen with quartz counter tops and a living room with a massive window, exposed brick, built in the floor-to-ceiling -in open shelving and built-in ceiling hanger for bicycle storage,” says listing agent Ken Ramsay.

The building is close to shopping, restaurants, schools, Bridgepoint Hospital, Jimmie Simpson Park and Recreation Center, public transportation and access to Don Valley Pkwy.

The facilities of the building include a party room and a meeting room.

245 Carlaw Ave #510B

The unit has: concrete floors; the living room; dining room with modern pendant lighting; kitchen with stainless steel appliances and quartz countertops; master bedroom with heated floor and built-in closet; four piece bathroom.

Listing agents: Ken Ramsay and Jamie Ramsay, The Ken Ramsay Group, Harvey Kalles Real Estate Ltd., Brokerage, 416-906-8366; www.kenramsay.com.

245 Carlaw Ave #510B
What They Got: Condos is compiled by freelance contributor Allison Harness, a Toronto-based real estate writer, from publicly available information. Send recent home sales to soldhome@rogers.com. Not all submissions can be used.
]]>
Maps, condos and Ukraine – ORANGE COUNTY TRIBUNE https://tribunetower.info/maps-condos-and-ukraine-orange-county-tribune/ Fri, 18 Mar 2022 23:29:03 +0000 https://tribunetower.info/maps-condos-and-ukraine-orange-county-tribune/ Across the Area CITY COUNCILS from Garden Grove, Stanton and Westminster will have meetings next week (Shutterstock). City councils of Garden Grove, Stanton and Westminster will have meetings next week, taking up topics such as redistricting, the invasion of Ukraine and new condominium projects. Garden Grove: Adoption of final district maps The second reading and […]]]>

Across the Area

CITY COUNCILS from Garden Grove, Stanton and Westminster will have meetings next week (Shutterstock).

City councils of Garden Grove, Stanton and Westminster will have meetings next week, taking up topics such as redistricting, the invasion of Ukraine and new condominium projects.

Garden Grove: Adoption of final district maps

The second reading and final adoption of an ordinance adopting the existing council district maps tops a light agenda for the city council on Tuesday.

The meeting will be open to the public and will begin at 6:30 pm in the Community Meeting Center, 11300 Stanford Ave.

Stanton: Condos and district maps

This agenda features adoption of subdivision maps for a six-unit condominium complex at 7320 Katella Avenue as well as a 36-unit condo complex at Katella Avenue and Western Avenue.

Also, the council will consider the second reading and final adoption of its council district map and boundaries. The meeting is set for 6:30 pm in person at the council chambers in the Civic Center, 7800 Katella Ave.

Westminster: Standing with Ukraine

A resolution in support of divestment from Russia and a statement of solidarity with the people of Ukraine will be considered Wednesday night by the Westminster City Council.

Additionally, the council will also take up the second reading and adoption of both four- and five-district city council boundaries and maps.

The council will meet at 7 pm via teleconference/webconference.

]]>
Iconic Upper East Wales hotel to be reborn as condos https://tribunetower.info/iconic-upper-east-wales-hotel-to-be-reborn-as-condos/ Thu, 17 Mar 2022 14:38:00 +0000 https://tribunetower.info/iconic-upper-east-wales-hotel-to-be-reborn-as-condos/ The more things change, the more they stay the same. An iconic old hotel in the conservative, co-coated Carnegie Hill section of the Upper East Side is about to become (gasp!) condos. But never fear, the building attracts the same well-heeled old characters it has always attracted. Dating from 1899 and located at 1295 Madison […]]]>

The more things change, the more they stay the same.

An iconic old hotel in the conservative, co-coated Carnegie Hill section of the Upper East Side is about to become (gasp!) condos.

But never fear, the building attracts the same well-heeled old characters it has always attracted.

Dating from 1899 and located at 1295 Madison Ave. at 92nd Street, Wales never had the momentum of, say, the Carlyle or Mark hotels. But, for more than a century, it has quietly attracted and hosted entertainers, the pre-Met Gala crowd, affluent Europeans and South Americans and, above all, locals who shone at dinners at the hotel’s restaurant. , the Sarabeth’s.

“It’s the best part of New York,” Australian artist and mid-century “it” girl Vali Myers told The New York Times of the hotel, where she stayed in 1984 (she died in 2003). “I look out my window and I feel like it’s London… At night, the old Hungarian ballerinas who live here put on their diamond earrings and go out.

Now – after selling to DLJ Manhattan Real Estate, a subsidiary of DLJ Real Estate Capital Partners, for $35 million in August 2017 and then to Matthew Adell’s Adellco – the Renaissance Revival-style hotel’s 87 rooms and suites of 10 floors will become just 21 posh residences.

Wales was home to fashion icons like Vali Myers (inset). Now it hosts a pimped penthouse.
Rose Hartman/Getty Images; August PR NY

Today, Adell told the Post exclusively that he was listing the crown jewel of the conversion: a 4,179-square-foot penthouse on a full floor with five bedrooms, five bathrooms, a wrap-around terrace and a rooftop. -terrace, offering stunning views of Central Park and the Jacqueline Kennedy Onassis Reservoir. It’ll cost you $23 million — a far cry from the $30 to $65 a day the hotel charged for rooms (many of which had kitchens) in 1982.

The two-, three-, and four-bedroom residences cost $3.85 million, $5.75 million, and $7.42 million, respectively. The move-ins are planned for the end of 2022.

“The opportunity is extremely rare,” Adell said. “We were fortunate enough to completely renovate the interiors within the magnificent shell of an iconic property in this idyllic neighborhood.”

A bedroom inside a penthouse in Wales.
The historic Wales Hotel at Madison Avenue and 92nd St. unveils a splashy penthouse condo asking for $23 million.
August PR NY

He can still say it. Condos are still rare in the area known for its elite private schools like Dalton, world-class cultural institutions like the Guggenheim — and snub noses.

But Adell acknowledged the shift in real estate market demand for new inventory, following the 2019 launch of 27 E. 79th St., its newly constructed eight-unit boutique condominium.

“The Upper East Side has never been out of style,” Adell said. “But now it’s trending for a whole new audience.”

He says many newcomers leave downtown for the family-friendly appeal of the area: those aforementioned private schools, proximity to the park, and “sophisticated atmosphere.”

Interior of a unit in Wales.
The hotel’s 87 rooms and suites have been reduced to just 21 condos.
August PR NY

“Carnegie Hill is an enclave of who’s who,” said Leslie Singer, a Brown Harris Stevens broker who lives in the neighborhood. “People stay here forever. With limited availability, inventory changes quickly. »

For those drawn to the region’s elegant architecture, The Wales is particularly distinct.

Its ornate historic facade is restored to its former glory by HQ Preservation architects to include a scaled-down reproduction of the original cornice, with its bold, classic flourishes.

“Early 20th century Beaux-Arts style hotels are rare in Carnegie Hill, especially at this level of architectural quality,” said Bill Higgins, head office manager.

Roof of Wales.
Views from the building have been enjoyed since 1899.
August PR NY

Rarer still is life in a “penthouse” in chic neighborhoods. In most cooperatives and historic hotels, the upper floors are smaller and reserved for staff. But in New Wales, a 3,000 square foot party play area will be built behind the ledge.

The rooftop space will feature a wraparound terrace with an outdoor kitchen, wet bar, fireplace, and butler’s pantry. Meanwhile, penthouse interiors by Parisian design firm Pinto include a great room with southwest exposures with coffered ceilings, a fireplace, kitchen with dining area, and white lacquer cabinetry.

“We were fortunate enough to completely renovate the interiors within the magnificent shell of an iconic property in this idyllic neighborhood.”

Welsh owner Matthew Adell

Drawing inspiration from the building’s original facade, Pinto also designed the Wales common areas and residences in a marble, classic and contemporary aesthetic.

The residences have herringbone oak floors and custom kitchens with Bianco Carrara and Grigio Nicole marble bathrooms.

Amenities include a fitness center, pet spa, bicycle storage, and private storage, as well as a 24-hour doorman and concierge.

“It’s the best of both worlds,” said JP Forbes, sales manager of The Wales and estate agent at Corcoran Sunshine Marketing Group. “You have the elegance of a pre-war building and the luxury of new construction. They don’t build buildings like this anymore.


These are the people in your neighborhood

Inset by Andrew Carnegie on an exterior of the Cooper Hewitt Museum.
Andrew Carnegie’s Fifth Avenue mansion (inset) is now the Cooper Hewitt Museum.
Bettmann/CORBIS; John Lamparski/Getty Images

In 1919, Mrs. Henry Prince was residing in Wales when she reported to police detectives that her jewelery worth $20,000 (about $328,000 in today’s lettuce) had been stolen!

Ms Prince had boarded a bus with the gems in her bag as she returned from a Riverside Drive party and when she got to her room she found her bling was missing, the New York Tribune reported .

It was a hair puller for detectives who couldn’t find a trace of Mrs. Prince’s sparklers. Depressed Dicks called the lady to report the bad news only to discover a bewildered Mrs. Prince at the door. “Jewels? Oh, those jewels?” Why were they still looking for it? It wasn’t missing. It was where she left it, under her pillow. She found it a few days ago.

More than 100 years later, Carnegie Hill is still home to the rich and eccentric.

Aerial view of Manhattan's Upper East Side
Carnegie Hill is home to many of New York’s most thunderous old neighborhoods.
Getty Images

Bordered by 86th Street to the south, 96th Street to the north, Central Park to the west and Lexington Avenue to the east, the nabe is named after Andrew Carnegie, who built his sprawling mansion on Fifth Avenue and the 92nd Street at the turn of the 20th century.

Since then, celebrities and industry titans have called the neighborhood home, including David Rockefeller, Bette Midler, Gwyneth Paltrow and Woody Allen.

The area is also a tourist hub thanks to the Neue Galerie, the Guggenheim, the Cooper Hewitt Museum (former home of Carnegie) and the Jewish Museum.

Lined with chic restaurants and outdoor cafes like Island, Pascalou, Sfoglia and Vicolina, as well as long-time retailers, like the Corner Bookstore, BHS broker Leslie Singer says Carnegie Hill “looks like Paris in summer.”

And for those looking to buy in the good life downtown – known for its limestone mansions and pre-war apartment buildings by architects like Rosario Candela and JER Carpenter – know that if you have to ask what it costs, you can’t afford it.

In 2021, apartments sold in Carnegie Hill were 40% more expensive and 27% larger compared to the Upper East Side as a whole, according to data from Corcoran Group Market Research.

There are currently only 16 new development sponsor units at Carnegie Hill, spread across just three buildings – Wales, 180 E. 88th St. and 1228 Madison Ave. – with an average asking price of $8.2 million, according to data from Brown Harris Stevens Development Marketing. (The Bellemont at 1165 Madison Ave. and a redevelopment at 1143 Fifth Ave. are in pre-development and have not yet launched sales.) This represents 29% of all actively marketed new inventory on the Upper East Side where a total of 56 units are available with an average listing price of $7.35 million.

“With few development sites available and minimal product in the pipeline, these coveted new buildings are poised to meet buyer demands and exceed pricing,” said Laura Tomana, vice president of research and data. market at Brown Harris.

“Carnegie Hill offers an opportunity to live along Park or Madison Avenues a bit further north than buyers previously sought, but attracts those who want more space, services and amenities who are willing to spend.”

]]>
The selling price of these two downtown Toronto condos https://tribunetower.info/the-selling-price-of-these-two-downtown-toronto-condos/ Tue, 15 Mar 2022 11:33:58 +0000 https://tribunetower.info/the-selling-price-of-these-two-downtown-toronto-condos/ CHURCH-YONGE CORRIDOR Location: 80 Charles Street East, Unit 406, Church and Charles Sts. Asking price: $499,000 Sale price: $550,000 Previous sale price: $157,000 (2005) Cut: approximately 523 square feet Car park: no spaces, an exclusive locker Maintenance fees: $500.61 per month Taxes: $1,686 (2021) Bedrooms: 1 Bathrooms : 1 Sold: January 17/22. Firm: February 7/22. […]]]>

CHURCH-YONGE CORRIDOR

Location: 80 Charles Street East, Unit 406,

Church and Charles Sts.

Asking price: $499,000

Sale price: $550,000

Previous sale price: $157,000 (2005)

Cut: approximately 523 square feet

Car park: no spaces, an exclusive locker

Maintenance fees: $500.61 per month

Taxes: $1,686 (2021)

Bedrooms: 1

Bathrooms : 1

Sold: January 17/22. Firm: February 7/22.

This downtown Toronto condo unit sold for 110% of the listing price in 12 days.

“Ideal for first-time buyers, this condo suite is in the historic Waldorf Astoria Lofts building and features hardwood floors throughout, open-plan kitchen, entry hall with ample closet space, and walk-in closet in the bedroom,” says the listing agent. Scott Hanton.

The building is close to shopping, restaurants, schools, hospital, parks, University of Toronto, Ryerson University, Royal Ontario Museum, Yorkville, Park Asquith Green, a library, cinema and public transport.

Building facilities include gym, sauna, roof terrace/garden and security system.

The unit has: hardwood floors; entrance hall with large wardrobe and a four-piece bathroom; living room with Murphy bed; dining room with window; kitchen with tiled floor; master bedroom with walk-in closet and large window.

80 Charlest Street East #406

Listing agents: Scott Hanton and Daniel MacFarlane, The WEIR Team, Brokerage Inc., 647-351-3313; www.TheWEIRTeam.ca

SUPERIOR JARVIS

Location: 500 Sherbourne Street, Unit 1112,

Sherbourne and Wellesley streets.

Ask for a price: $599,000

Sale price: $686,600

Previous sale price: $324,500 (2011)

Cut: approximately 650 square feet

Car park: no space, one locker owned

Maintenance fees: $442 per month

Taxes: $2,028 (2021)

Bedrooms: 1 plus 1

Bathrooms : 1

500 Sherbourne Street #1112

Sold: January 20/22. Firm: February 24/22.

Selling for 115% off the listing price in four days, this downtown Toronto condo features nine-foot ceilings.

“This condo suite offers stunning views of the Toronto cityscape and a functional layout with a bright, open-concept living space. It also has laminate floors throughout, a den and kitchen with granite counter tops,” says listing agent Cameron Weir.

500 Sherbourne Street #1112

The building is close to shopping, restaurants, schools, hospital, library, parks, Allen Gardens, Winchester Park, Central YMCA, Riverdale Farm, public transportation and access to the Don Valley Pkwy.

Building facilities include concierge, gym, party/meeting room, sauna, roof terrace/garden, guest suites and parking for visitors.

The unit has: laminate floors; living room with window; dining room; kitchen with tiled floor and granite countertops; lair; master bedroom with wardrobe; three piece bathroom with tiled floor.

500 Sherbourne Street #1112

Listing agents: Cameron Weir and Daniel MacFarlane, The WEIR Team, Brokerage Inc., 647-351-3313; www.TheWEIRTeam.ca.

Clarification — March 15, 2022: This article has been updated to remove details about the built-in appliances from the Charles Street property.

What They Got: Condos is compiled by freelance contributor Allison Harness, a Toronto-based real estate writer, from publicly available information. Send recent home sales to soldhome@rogers.com. Not all submissions can be used.
]]>
Five condos for sale in Oak Park – Chicago Magazine https://tribunetower.info/five-condos-for-sale-in-oak-park-chicago-magazine/ Mon, 14 Mar 2022 07:00:00 +0000 https://tribunetower.info/five-condos-for-sale-in-oak-park-chicago-magazine/ While Oak Park is known for its beautiful historic single-family homes, the nearby suburb is also full of multi-unit residential properties. You can find a variety of styles here, from contemporary glass towers to some of Chicagoland’s finest vintage apartment buildings. At the end of the green line close to town, Oak Park has plenty […]]]>

While Oak Park is known for its beautiful historic single-family homes, the nearby suburb is also full of multi-unit residential properties. You can find a variety of styles here, from contemporary glass towers to some of Chicagoland’s finest vintage apartment buildings. At the end of the green line close to town, Oak Park has plenty to offer, whether you’re looking for good schools or a suburban suburb with a bit of planning and walking. Moreover, we cannot forget its world famous architecture. Not all of us can afford to buy a Frank Lloyd Wright home, but there are still plenty of budget-friendly options for those who want to become Oak Park residents.

Architect Frederick Schock is best known for designing a number of iconic homes across the border in Chicago’s Austin neighborhood, including his own sprawling Queen Anne at 5804 W. Midway Park. Late in his career he also worked at Oak Park where developer EA Cummings commissioned Schock to create this red brick and white terracotta building in 1911-12. Inside the three-bedroom, two-bathroom condo, you’ll find great details such as original woodwork, vintage tile gas fireplace, hidden sliding doors, and art glass windows. . In addition, there is an attached solarium and a beautiful dining room with coffered ceiling and built-in wardrobe. They don’t do apartments like this anymore.

Over the past decade, there has been a construction boom in Oak Park with many new constructions taking place throughout the city. Located just down the street from Oak Park’s number one tourist attraction (the Frank Lloyd Wright Home & Studio), Residences at Maple Place is a five-story, 10-unit building built in 2017. This three-storey condo bedrooms and two bathrooms with a southwest exposure was originally the developers’ model unit and has a lot to offer. For a newer building, the balcony is spacious and private. It has a good sized laundry room as well as plenty of additional space with several dressing rooms and a private storage room. Street parking can be an issue in Oak Park, so it’s a huge bonus that this condo comes with two deeded parking spaces in the heated garage.

This six-bedroom apartment from 1929 is conveniently located near everything the city has to offer. The two bedroom, one bath condo is within walking distance to the Oak Park shopping area and public transportation. Did I mention the train tracks are right outside your door? Perhaps the noise factor could be an issue, but look past its ornate yellow brick facade, as the interior is full of lovely period features, from the arched dining room doors to a bathroom fun with pink tiles. I also love the cove moldings throughout the space. Although the American kitchen is not suitable for everyone, I think it is practical for people who like to cook. The monthly HOA fee of $401 seems reasonable, considering it covers heat, water, and general maintenance.

Known as Victoria Manor, this well maintained vintage greystone is located just off the Austin ‘L’ stop of the green line. The two-bedroom, one-bathroom condo has period details like beautiful woodwork and transom doors — but there have been a few updates. The last owners purchased the unit in 2018, so the kitchen got a facelift with stainless steel appliances, granite counter tops and a new dishwasher. Just outside is a large balcony that overlooks a fenced green space at the back. Plus, it’s quite affordable at $185,000.

Built just five years ago, District House is a contemporary LEED-certified mid-rise building located in Euclid and Lake. This top-floor corner unit features three bedrooms and two-and-a-half bathrooms, plus a number of upgrades such as an enclosed gas fireplace, Closet Works built-in wardrobes, and motorized gray woven blinds (a feature). essential, given its southwest exposure). There are nine to ten foot high ceilings throughout the open concept space, even in the hallways and bathrooms. The condo comes with its own private green rooftop garden/terrace where you can take in views of surrounding Oak Park and the distant Chicago skyline. Downstairs is the Fairgrounds Coffee, which could become a hassle if you have a caffeine addiction like me.

]]>