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  #41  
Old Posted Jan 13, 2017, 4:11 AM
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Originally Posted by lio45 View Post
I agree with you, there's no way spires should count.

Just to make sure it's clear, I don't have any skin in this game, it's just basic logic: spires, antennae, and other such fluff on top are not an intrinsic part of a building.

Even if we count spires, then it's still third tallest at most - behind CN Tower (itself a giant spire; spires count) and whatever other building ranks second (Toronto's BMO tower, if memory serves me correctly).
Sorted by roof height, Trump Toronto is #5: http://skyscraperpage.com/diagrams/?searchID=75572284
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  #42  
Old Posted Jan 13, 2017, 4:13 AM
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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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  #43  
Old Posted Jan 13, 2017, 4:17 AM
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Originally Posted by Innsertnamehere View Post
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.
North of $500million, according to the Globe and Mail.
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  #44  
Old Posted Jan 13, 2017, 4:30 AM
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I was assuming that meant the entire building, which I figured would be worth around a billion dollars or so if it were sold on the open market. If it's just unsold condos, common areas, retail floors and a stake in the hotel portion being sold at fire sale values then 300 million makes a bit more sense.

If the "this should be in the Toronto" bickering doesn't stop them I'll create a thread in this section about the Dominion Public Building being for sale, because that sale will probably be even bigger than this one in the end.
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  #45  
Old Posted Jan 13, 2017, 4:36 AM
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It may be a bigger sale, but this is a skyscraper site. Trump is way, way, way taller...
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  #46  
Old Posted Jan 13, 2017, 4:45 AM
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The tallest, most magnificent bankruptcy sale ever! No one does bankrupt better than Trump.
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  #47  
Old Posted Jan 13, 2017, 4:59 AM
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Originally Posted by ue View Post
This was years ago, but a lot of people have heard of the Blatchford redevelopment plans. Just like a lot of people have heard of the ICE District. You're assuming that because you haven't heard of it that no one else has as well. I know these projects have been given national press before.

Regardless, this discussion is not relevant to the thread and so I won't further derail things. PM me if you want to continue this.
Actually, I think discussing what's newsworthy in this forum section is not irrelevant; you raised a decent point with that comment of yours.

As I said, IMO a good yardstick for whether or not an Ontario/Alberta event is "national news" is whether or not it'll show up the next morning at least somewhere in the Quebec City papers. If there isn't even a snippet to be seen about it, we can safely declare it's not Canada-scale news.


(By this standard, we'll only know tomorrow morning whether or not the mods should move this thread away )
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  #48  
Old Posted Jan 13, 2017, 5:07 AM
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Originally Posted by vid View Post
I was assuming that meant the entire building, which I figured would be worth around a billion dollars or so if it were sold on the open market.
No way! This building contains 261 hotel rooms and 118 condos, for a total of 379 units. A billion dollars for it means $2.63 million per unit - most of which are mere hotel rooms!
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  #49  
Old Posted Jan 13, 2017, 5:11 AM
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Quote:
Originally Posted by Innsertnamehere View Post
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.
Hotel units unsold 211
Condos unsold 74
Hotel units owned by investors 50
Condos owned by people 44

Total hotel units 261
Total condo units 118

Construction loan (2007) $310 million

Owed on the building as of October 2016: $301 million

All numbers from wikipedia:
https://en.wikipedia.org/wiki/Trump_...Tower_(Toronto)


I personally don't think $300 million for the unsold bundle is a steal, unless the Toronto market is even crazier than I thought.
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  #50  
Old Posted Jan 13, 2017, 5:18 AM
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FWIW, there are currently a couple units that are on MLS right now:

https://www.realtor.ca/R%C3%A9sident...Ontario-M5H2R1

https://www.realtor.ca/R%C3%A9sident...Ontario-M5H4G5
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  #51  
Old Posted Jan 13, 2017, 5:42 AM
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^^Where are those 14' ceilings? This looks like my grandmother's living room.
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  #52  
Old Posted Jan 13, 2017, 6:55 AM
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Like Aura, the tower has irregular floor heights, and some floors are much higher than others.
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  #53  
Old Posted Jan 13, 2017, 1:36 PM
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they look like 9' or 10' ceilings, still not bad. My building is 4 years old and is 7.5'..
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  #54  
Old Posted Jan 13, 2017, 3:33 PM
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Originally Posted by dleung View Post
^^Where are those 14' ceilings? This looks like my grandmother's living room.
This is from memory so it's just a rough figure. I also correctly chose slab to slab instead of ceiling as the suspended ceiling heights have a wider range and slab to slab more accurately expresses the tower's height.
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  #55  
Old Posted Jan 13, 2017, 3:36 PM
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Obviously I know that
It's abundantly clear using simple logic. The flagpole isn't roughly 100 metres long. Something has to make up the 75 metre difference in roof height between two towers with the same floor count.

Maybe you should roll your eyes less. It may be clouding your judgement.
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  #56  
Old Posted Jan 13, 2017, 4:39 PM
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Can a moderator move this to the grossly underused Toronto section where it belongs?
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  #57  
Old Posted Jan 13, 2017, 5:45 PM
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It's about a Toronto building firesale that actually has national repercussions as it pertains to foreign real estate speculation. What's the big deal? This is hardly the only local subject matter with national undertones in the Canada section. The Canada section isn't overrun with Toronto threads. It'll disappear in a few days if you let it run its course

I guess there's no love left for Toronto after Montresal. I also guess this is one local thread too many after the banning Chinese only signs in Vancouver and the stickied NWT thread.

Let the moderators do their thing. They definitely don't need your policing.

A corrupt Russian/Canadian billionaire built this tower and is completely sheltered and walking away scot-free. An investment firm purchase the debt for a song and will try to flip it for a profit. Everyone else loses. The only thing keeping this from happening across Toronto, and Canada and damaging our national economy is the continuing boom.

Last edited by Ramako; Jan 14, 2017 at 2:26 AM. Reason: deleted personal insult
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  #58  
Old Posted Jan 13, 2017, 6:02 PM
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There's a stickied Territories (ie Nunavut, NWT, and Yukon, not just NWT) because there isn't a formal section for the Territories and there really isn't a need for a full section for them.
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  #59  
Old Posted Jan 13, 2017, 6:28 PM
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That doesn't explain other threads. I can find more if you want. I'm all for keeping this thread alive afterall.

You don't seem to grasp that the Toronto section experiment is an absolute failure in attracting more Toronto forumers and should have been removed years ago. Posting there is a complete waste of time. Instead, you come up with some stereotypical Canadian view on Torontonians to explain why someone may chose to post content here instead of there. The irony.

Torontonians are not the media!!!!!!!
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  #60  
Old Posted Jan 13, 2017, 6:30 PM
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Wow, the hissy fits in this thread are amazing. Would any of the pearl-clutching homebodies afraid of Toronto care to explain just exactly how it could possibly not be of national interest that a major skyscraper bearing the name of the scariest, most dangerous and most idiotic president-to-be in U.S. history is about to be sold at a firesale price in the country's most important city?

Especially on a site like this? Is our Canadian regionalism so unhinged that this thread, of all things, gets "called out" for ostensibly stepping on the precious toes of people in Saskatchewan or wherever?

Hilarious.
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