Invest into the heart of Toronto to be around it all!
Tuesday Jul 26th, 2016Share
Sometimes the only way to get into the neighborhood of your choice is to invest into pre-construction. I have my own opinion about wisdom of investing into a pre-construction but the real estate adage location, location, location can justify all doubts about a particular pre-construction project. Some neighborhoods are really too great to resist for people who look to the future.
Let me introduce to you 8 Cumberland Condos located in the heart of the Bloor-Yorkville community, Toronto’s fanciest address.
8 Cumberland is a new 64-storey mixed-use building by Great Gulf (One Bloor Condos) and Phantom Developments (Jade, Jade Waterfront and Tea Garden Condos) located at the northwest corner of Cumberland Street and Yonge Street in Toronto.
It has a walkscore of 100/100 and a transit score of 97/100 which makes it a world-class location with an easy walk to both Bay and Bloor-Yonge subway stations.
The proposed development will retain the existing heritage building facades on Yonge Street and is comprised of 413 one-bedroom (priced from $418,990) and one bedroom plus den (priced from $478,990) and 118 two-bedroom units (priced from $623,990).
HST and appliances are already included in the above prices. With maintenance approximately $0.59 per sq.ft., which is average for this size condominium. Parking is additional $85,000 for regular size and $75,000 for compact size. Locker is available for an additional $6,000. Deposit structure is usual for the pre-construction investments.
Yes, I agree the prices are already steep and may not attract many investors who are looking to make money in a couple of years by selling them. But the end users may potentially enter into the neighborhood and live in a newly built fancy building with attractive amenities and thought-after convenience.
An indoor amenity area will include nearly 13,000 square feet and an outdoor amenity area is close to 6,000 square feet and proposed to be located on the 4th and 5th storeys. The 3-storey podium portion of 8 Cumberland Condos will feature 15,000 square feet of retail space.
Occupancy Fall 2021.
Give yourself a chance to live close by fine galleries and museums, city’s best restaurants & patios and designer boutiques. Relax with your kids or pets in the nearby parks such as Harold Town Park, Asquith Green and Jesse Ketchum Park.
Please contact me for more information on the available units and pricing!
Please remember: Developer/builder’s sales representatives are working for the developer/builder usually for fixed salaries or some type of commission. So their main responsibility is to protect the developer/builder but not you, the purchaser. It’s paramount to obtain your own real estate representation and a legal council to be sure your rights and interests are protected.