Posted Jan 13, 2017, 4:13 AM
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Registered User
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Join Date: Jan 2010
Location: Hamilton
Posts: 11,607
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So the building apparently has 118 condo units, so 62% are included in this sale. Unsure how many hotel units are in it, but it is probably a similar if not even greater %. It's a damn miracle this thing ever got built in the first place with sales numbers like those. $300 million for the lot should be a steal. The units here are very large, luxury condos so an average of a million each seems more than appropriate. I don't know enough about the nature of the hotel rooms to know how much they are actually worth, though.
I'm sure it's way below construction costs no matter what however.
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