Okay, terrible play on words, but remember the song “Putting on The Ritz” from the 1980’s? Don’t you feel nostalgic? No?
Fine. Let’s just talk about the Ritz-Carlton then…
Good LORD there have been a lot of spins on the original Ritz Crackers over the years!
Ritz Peanut Butter.
Ritz Bits Sandiches (both Cheese & PB)
Ritz Roasted Vegetable.
Ritz Whole Wheat
Ritz Reduced Fat
Ritz Low Sodium
Ritz Honey Butter
Ritz Brown Sugar Cinnamon.
Ritz Pretzel Rounds.
Ritz Kickin’ Cheddar.
Ritz Extra Cheesy.
Eight minutes – that’s the answer to the question you’re all asking: “How long did this loser spend researching all the different types of Ritz crackers for his (ahem) blog about real estate?”
Ah whatever. At least I found it interesting…
I was browsing through new listings today and saw one at 183 Wellington Street West, aka the new “Ritz Carlton,” and I found it rather interesting.
Well, maybe “interesting” isn’t quite the right word, but what do you call a one-bedroom condo that is priced at $1.1 Million?
So I did a search for 183 Wellington Street and found twenty-one active listings in the building.
I’m not denying that this is a gorgeous building. I think that goes without saying.
But I do think that this building requires a very, very specific buyer.
Here are some brief observations and statistics from the data I pulled:
- There are 21 active listings on MLS.
- The average price is $1,874,286.
- The prices range from $999,000 to $4,100,000.
- The average price per square foot is $940; a low of $796/sqft and a high of $1,234/sqft.
- The highest price per square foot is reserved for the most expensive units (it’s the other way around in many buildings).
- The average days on market is 128.
- Nine of the twenty-one units for sale are owned by corporations and/or holding companies.
- Five 1-bedroom units are listed for $1 Million or more.
- Only two of the twenty-one listings do not include actual square footage measurements, meaning only 9.5% of the listing agents are utterly useless.
- The word “opulence” appears in more than one listing.
- One listing was described as “Magazine Worthy,” even though some magazines cost $1.99 and always have Kim Kardashian on the cover. Surely there are better descriptions, no?
- Three listings had “hotel” spelled “hotal.”
- Only six listings did not have a spelling mistake. That’s what you get when you pay your Realtor $50,000 in commission…
- One listing has “None” under “Laundry,” which is not true. Again – $50,000 in commission to mistakenly advertise that you don’t have laundry…
- Seven of twenty-one listings have been reduced in price.
- Twenty-one of twenty-one units have zero outdoor space. That’s right – no units have balconies.
I’m no expert, but for $4.1 Million, I’d love to have a balcony.
Then again, I could probably call concierge to come up hook me up to a bungee-cord so I can dangle out the window. The amenities and services at the Ritz-Carlton are insane!
Lastly, have a look at the following photo of the Ritz-Carlton, and tell me if that’s a real reflection of the CN Tower, or if it’s photo-shopped in.