I recently sold a suite in the Victory Condos , south facing over looking King Street and trendy Brassaii. At $550/square foot this was a solid investment for my client. Amazing amenities include executive concierge, modern lobby, a lounge/bar, a boardroom/dining room with a fully equipped kitchen with direct access to the lounge, an equipped fitness studio, guest suite, bicycle parking and a state of the art screening room with acoustic panels. Amenities suited to today’s discerning buyer, topped with a location nestled at the corner of bustling King and Spadina, make this a building ideally suited to both investors and end users. The Victory Condominiums are not your typical skyscraper packed with dime size units. While smaller suites start at only 465 square feet, they go up to 1695 square feet and three bedroom plans are even an option by combining two specified units to achieve that larger square footage. With only 12 storeys, this building attracts young urban professionals who want to live a stone’s throw from the newest restaurants, cafes, clubs, shops and theatres.
With so many condos to choose from, how did this one get to the top of the list?? Simple. The numbers made sense. The price we were able to negotiate + the amount of rent achievable in this building and area, + the area’s future potential = a sound and viable purchase decision….One that my client continues to smile about!!
There is a lot to be said about Toronto’s condo boom. It’s nearly impossible to go through a paper or listen to a news report that doesn’t mention this as a major facet of Toronto real estate. It’s typically layered with a suspicious and cautious underlying tone. Buyer Beware! There is good reason to be cautious, but it truly depends on where you’re buying and the demographic that is already in place. Don’t be shy. Speak to people who already live there. While they’re ‘trapped’ in the elevator with you, there is plenty of time to get the scoop. Are they renting or did they purchase the suite? What has their experience been? If they’re unhappy, they will be more than happy to tell you what all the issues are, and if they’ve had a pleasant experience thus far, they’ll mention that too. Another tip that is truly underutilized is talking to the concierge. They know everything and if you’re polite and respectful, they’re happy to divulge some of the intricacies you will never find out about if you’re not already familiar with the building. A priceless piece of information I once received from a concierge in a newer building I was showing, was that the building had an 85% to 15% renter to owner ratio and they were therefore having difficulties forming a board of directors. (typically you have to be an owner to be on the board) Without having a board in place some critical decisions can’t be made, especially for a new building. Some of these initial decisions have a long term impact for the building as a whole, so it’s important to lay a proper foundation.
All that being said … Victory Condos have my vote and it’s a development I have a lot of confidence in.
If you’re looking for more information on condo developments at King and Spadina, St. Lawrence Market, Leslieville or throughout the downtown core, please call me at 416-716-7073 or email me at email@example.com.