Canadian Commercial Real Estate Thread

[koops65]

Toronto's Trump Tower on sale for $298 million

Toronto’s Trump International Hotel & Tower is finally up for sale, and the beleaguered building may lose its presidential brand under new ownership.

The sale includes 211 hotel units, 74 condo units and most of the tower’s retail and commercial space, including the America restaurant on the 31st floor.

The property’s court-approved receiver has set a minimum sale price of $298 million for the 65-storey tower.

http://www.ctvnews.ca/canada/toronto...lion-1.3239219

[whatnext]

Originally Posted by koops65

Toronto's Trump Tower on sale for $298 million

Toronto’s Trump International Hotel & Tower is finally up for sale, and the beleaguered building may lose its presidential brand under new ownership.

The sale includes 211 hotel units, 74 condo units and most of the tower’s retail and commercial space, including the America restaurant on the 31st floor.

The property’s court-approved receiver has set a minimum sale price of $298 million for the 65-storey tower.

http://www.ctvnews.ca/canada/toronto...lion-1.3239219

Oh to have $300 mil, just to change the TR in the building signage to a D!

[vid]

That sounds pretty cheap to me... Only $298 million for a building that size, on property that centrally located?

They would probably have been more successful if they weren't associated with an orange racist pig.

[mistercorporate]

Originally Posted by vid

That sounds pretty cheap to me... Only $298 million for a building that size, on property that centrally located?

They would probably have been more successful if they weren't associated with an orange racist pig.

It's zoned commercial, everyone wants to dump their condos lol.. That being said, the building and rooms are beautiful inside and the location's great.

[vanman]

Why does this warrant its own thread in the Canada section?

[WhipperSnapper]

Originally Posted by vanman

Why does this warrant its own thread in the Canada section?

Why not?

[koops65]

Originally Posted by vanman

Why does this warrant its own thread in the Canada section?

It's a discussion about the sale of Canada's second tallest building. Which just happens to have the new US Prez's name on it. I wasn't sure where else to put this news...

[ue]

Originally Posted by koops65

It's a discussion about the sale of Canada's second tallest building. Which just happens to have the new US Prez's name on it. I wasn't sure where else to put this news...

The Toronto section? This is a very stereotypically Toronto view on their national relevance of what would be simply thought of as local news if it were Vancouver or Montreal. I don't recall Vancouver getting its thread in the Canada section for its own Trump Tower issues and protests.

[dleung]

Originally Posted by mistercorporate

It's zoned commercial, everyone wants to dump their condos lol.. That being said, the building and rooms are beautiful inside and the location's great.

They're beautiful if one has the interior design taste of a Kardashian.

[niwell]

Originally Posted by dleung

They're beautiful if one has the interior design taste of a Kardashian.

I think the Kardashian's have much better taste actually! The interior is simply horrific.

[WhipperSnapper]

Originally Posted by niwell

I think the Kardashian's have much better taste actually! The interior is simply horrific.

Horrific is the house of the billionaire developer. Sofie Kaczynski tastes.

[TorontoDrew]

Originally Posted by niwell

I think the Kardashian's have much better taste actually! The interior is simply horrific.

Actually the units a pretty nice inside. Trying to hard to be a house in the Hamptons though.

[WhipperSnapper]

Originally Posted by vid

That sounds pretty cheap to me... Only $298 million for a building that size, on property that centrally located?

They would probably have been more successful if they weren't associated with an orange racist pig.

It's a foreclosure and that's the minimum sale price. I agree with mister corporate. The building is a liability. They couldn't sell the units during the past 15 years. Any buyer is probably going to have to sink millions to tens of millions to rethink the space.

[memph]

Originally Posted by vid

That sounds pretty cheap to me... Only $298 million for a building that size, on property that centrally located?

They would probably have been more successful if they weren't associated with an orange racist pig.

About $1m per condo/hotel room? Doesn't seem that cheap to me unless the units/rooms are very big and luxurious.

[lio45]

Originally Posted by memph

About $1m per condo/hotel room? Doesn't seem that cheap to me unless the units/rooms are very big and luxurious.

"... and most of the tower’s retail and commercial space, including the America restaurant on the 31st floor."

I don't know how much retail and commercial space there is in there, but obviously many millions' worth at the very minimum.

[FFX-ME]

Can a moderator move this to the grossly underused Toronto section where it belongs?

[WhipperSnapper]

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.

[Migs]

Originally Posted by vid

That sounds pretty cheap to me... Only $298 million for a building that size, on property that centrally located?

They would probably have been more successful if they weren't associated with an orange racist pig.

Classy

[caltrane74]

Scotiaplaza sold a few years back for $1.2 billion, and is right next to Trump. Considering the very small footprint of the Trump Tower, I believe the price is fair, and 300 million is the all in price, they probably could sell for more if they split everything up.

[O-tacular]

If I was really rich I'd buy it and change the sign to DUMP. Then I'd convert it into a museum chronicling all of his failed businesses and misdeeds. It would be similar to Bif's Back to the Future 2 museum but would chronicle his complete idiocy.