The Most Expensive Condo In Toronto

Last week, I wrote a blog about one of the smallest condos I’d ever seen – 76 square feet in Manhattan.

A reader asked what is the largest and/or most expensive condo in Toronto, so without further adieu…

It’s actually not a very new story, but just in case you missed it back in April of 2012, I’m going to revive it for sake of conversation…

Last week, we looked at that puny 76-square-foot apartment in Manhattan, and the debate began about how small a space is actually livable, with plumbing, heating, a space to cook, etc.

I think that in order to have a bathroom (even if it’s just a toilet next to your bed), a sink (this can be for kitchen and bath), a mini-fridge, and an outlet to plug a hot-plate in to (even if it’s on your bed), you’d need at least 150 square feet of space.

Does that sound about right?

One of my readers asked me about the largest condo to ever sell in Toronto, and I suddenly recalled both the infamous Four Seasons condo that sold for $28 Million earlier this year, as well as the unit at 155 Cumberland Street that was also for sale for $28 Million and was featured on the CBC.

Here’s a look at both condos.

First, we have the penthouse at Four Seasons Private Residences, via virtual tour, since it wasn’t yet build

Thanks to BuzzBuzzHomes for this YouTube video:

That unit actually did sell, but another one (as far as I can tell from MLS) was listed and didn’t sell.

But this one was an absolute masterpiece!

It’s one thing to buy the penthouse at a new development, but it’s another thing to purchase a piece of history!

I can’t embed the video, but click on this link below to see the story on CBC and get a walk-through from Jimmy Molloy from Chestnut Park:

CLICK HERE

Very cool!

When Jimmy Molloy says, “When you’re at stratospheric levels above twenty-million, you’re at a very small slice,” I really wish we could put a number to it!  Just how many people are looking to buy a $20 Million++ condo in Toronto?  There are over six-billion people in the world, and I have to think that maybe…….ten……are looking to buy a $20 Million condo in Toronto.

Wow!  Talk about limiting your buyer pool!

I was in a condo earlier today, telling my clients to de-clutter their home and remove personal items and photographs because, “We want this unit to appeal to 100% of the buyer pool!”  I told them that the bedroom was to masculine, and the den was too business-like and we risked offending a portion of the buyer pool that couldn’t relate.

But I guess when you’re dealing with a $28 Million condo, you’re looking at about 0.0000000001% of the population.

So rather than trying to appeal to everybody, why not find that one person, and appeal to him or her?

Bob from Norway – we want you to buy this condo.  If not, we’ll sell it to Princess She-Ra from the United Arab Emirates.

I tell ya, I love my job, but I can’t imagine being saddled with the task of selling a $28 Million condo.  And you just know that some condo-owner out there is gunning to break that “record”…

4 Comments

Post A Comment

Your email address will not be published. Required fields are marked *

  1. PS says:

    guess when you’re dealing with a $28 Million condo….maintenance is probably least of your worries

  2. Floom says:

    Dave,

    That unit at 155 Cumberland & the entire project has a storied history. The developer built 6 floors of condos above the office building on 130 Bloor (entrance on Cumberland, hence the address). The unit in question was a penthouse built by financier Noah Torno in the 60’s above the office building he owned…it was designed by Philip Johnson and was an art-deco masterpiece. The penthouse featured a private elevator and garage. I believe this unit has garnered historical home status so the update to this unit must be purely cosmetic. Though this penthouse graced the top of the building, it’s not the first floor of the residences of 155 Cumberland- I believe the developer converted a floor of office space below Torno’s palace into condos.

  3. ABB says:

    Dave you got it wrong — the top-floor unit was sold as a single entire floor, $28M. The original West Penthouse and East Penthouse were sold as a single suite. That’s why the 2nd suite did not list. So what is this guy’s monthly maintenance? Probably over $18,000 monthly, based on 12,000 square feet.

    1. Krupo says:

      Pfft, if you own a place that big, maintenance is probably least of your worries 🙂

TWEETS