City
Toronto Penthouse Going for $16 Million
It's not New York, but $16-million is a big chunk of change for what will be Toronto's priciest penthouse pad.
What do you get for that much moolah? A 9000-square foot home on top of one of the new Four Seasons Hotel development towers in Yorkville. Aside from living in trendy-but-kind-of-boring Yorkville, you also get stone floors, nickel-plated faucets, space for your live-in housekeeper (not included), and the right to say you're richer than your snobby Yorkville neighbours.
The newly designed Four Seasons (officially called the Four Seasons Hotel and Private Residences), is another example of hotel and condo units going up in the same building (think Sangria-La, Pantages and the Trump Hotel and Tower).
The architect, Peter Clewes, who is also responsible for one of my favourite new buildings in the city, feels that Toronto is ready for over-the-top luxury.
I'm not exactly an over-the-top luxury kind of guy, but the initial design for the new Four Seasons is impressive. The building will be surrounded by glass and appear transparent. The plans also call for an internal courtyard and a pedestrian bridge linking both towers at the 6th storey.
If you're in the market, or are just curious to see how the much-richer-than-you live, visit the presentation gallery at the northeast corner of Bay and Yorkville that opens this week.
Photo from the City of Toronto web site.
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Let me go home and grab my checkbook...anyone wanna go halve-zies?!?
Hmmm, how does one spell "halve-zies"?
"Halfzies"?
Anyway, for $16 million it better come with Scarlet Johansen.
Does anyone wonder where all of this is going? Soon it will be $32 million condos. If being a millionaire isn't good enough anymore...how soon before being a billionaire won't be? Of course, it's not something we'll need to worry about, until of course, we're all pushed out and homeless staring at these monstrosities.
In a perfect world, they shouldn't be able to build these because of the money they would need to spend on security to keep the people from tearing them down and demanding affordable, sensible and dare I say, responsible living space. Sorry Sunshine, no one needs a f**kin' $16 million condo.
Katie Rook, in the referenced FP article, says that this "asking price signals a change in the appetites of Toronto buyers."
I'd get ready for more of the super-rich wanting downtown property and the convenience of a hotel/condo.
Case in point - other units in this building will be starting at $1.2 million and going up to $16 million!!
And, according to my sources, no condo in the area has ever sold for anything even close to 8 figures...
And yet, people don't seem to mind that they are ultimately going to be pushed out of their own neighborhoods. Interesting.
I mean, Yorkville is nice and has a few streets of cool shopping, but a few streets of shopping is not really enough to warrant spending this kind of cash to live in a neighbourhood.
Plus you have hideously ugly streets, like Yonge south of Bloor, just a few blocks away. I wouldn't want to spend $16 million on a condo and walk a few streets over and see streets littered with discount stores, porn shops and cheap fast food restaurants!!!
I hope these new buildings start the revitalization of Yonge Street south of Bloor. Yonge may be a fun time for a tourist visiting Toronto, but who the heck wants to pay this kind of money to live near discount and porn shops?