Just Listed- MARK ON 10TH- 2 bed 2 bath

[JordanLotoski]

*** This is an assignment of unit prior to closing*** as this building is SOLD OUT

From ground floor to rooftop, inside and out into the surrounding neighborhood, MARK features a range of amenities. The superior rooftop amenities are accentuated by outstanding panoramic views. A 3rd floor urban garden is one of the largest elevated residential green spaces in the city. Specialty retail shops mean everything you need is right outside your door.

Offered at 549,900.00

Floorplan
http://www.qualex.ca/mark/residences/floorplans-2

http://www.qualex.ca/mark/features

[Type_S1]

Just to verify, weren't these for sale back up until April for $485k for a 2 bedroom + den?

[borN]

Originally posted by Type_S1
Just to verify, weren't these for sale back up until April for $485k for a 2 bedroom + den?

I purchased the 2 bedroom + den back in Dec 2013 and it obviously depends on the floor. I'm in the upper 2/3 and it's north of $530k. I can imagine one of the lower floors costing in the upper $400s.

[Type_S1]

Originally posted by borN


I purchased the 2 bedroom + den back in Dec 2013 and it obviously depends on the floor. I'm in the upper 2/3 and it's north of $530k. I can imagine one of the lower floors costing in the upper $400s.

How many floors are there? I'll need to find the email from the developers sales guy but I think it was floor 16? Really I just want to know how greedy the seller is being. Making 50k in a few months in this market seems a bit ridiculous.

I personally think the condo market is coming for a huge correction in the next 2-3 years once the market is flooded with east village and the other developments going up. Too many prospectors buying units with the intention for a quick flip like this one seems to be.

[borN]

Originally posted by Type_S1


How many floors are there? I'll need to find the email from the developers sales guy but I think it was floor 16? Really I just want to know how greedy the seller is being. Making 50k in a few months in this market seems a bit ridiculous.

I personally think the condo market is coming for a huge correction in the next 2-3 years once the market is flooded with east village and the other developments going up. Too many prospectors buying units with the intention for a quick flip like this one seems to be.

I think ~32 floors. If this is floor 16, my guess would be it was sold for ~$500-$510k, so your $50k estimate might be pretty accurate.

[JordanLotoski]

Originally posted by Type_S1


How many floors are there? I'll need to find the email from the developers sales guy but I think it was floor 16? Really I just want to know how greedy the seller is being. Making 50k in a few months in this market seems a bit ridiculous.

I personally think the condo market is coming for a huge correction in the next 2-3 years once the market is flooded with east village and the other developments going up. Too many prospectors buying units with the intention for a quick flip like this one seems to be.

Just to clarify, the greedy seller paid 495k plus gst ...developer takes a 1% transfer fee so with gst + 6% = 524,700 + realtor fees....he is at a break even. Don't know If I would call that being greedy.

[samo147]

Is this plan E? What floor is it on?

[OU812]

direction of views?

[realazy]

West facing units at Mark kinda got screwed when WAM decided to revive the old Astoria location.

Two rental towers right on the same block as Mark.

http://www.wamdevelopment.com/projec...w-residential/

[max_boost]

Way to buzz kill Beyond lol

[Type_S1]

Originally posted by JordanLotoski


Just to clarify, the greedy seller paid 495k plus gst ...developer takes a 1% transfer fee so with gst + 6% = 524,700 + realtor fees....he is at a break even. Don't know If I would call that being greedy.

Just find it odd how someone can ask for a 50k premium on purchase price only months after the building sold out in an increasingly soft market. I understand the guy is trying to break even but any savy/knowledgable home buyer wouldn't be paying close to the ask.

[Cdog]

I thought the Mark sold out since 2014.

[vengie]

Originally posted by Type_S1


Just find it odd how someone can ask for a 50k premium on purchase price only months after the building sold out in an increasingly soft market. I understand the guy is trying to break even but any savy/knowledgable home buyer wouldn't be paying close to the ask.

How does this impact you what he lists it for? At the end of the day the market will dictate what it's worth when it inevitably sells.

Perhaps the buyer doesn't care about money involved? Perhaps it's a forever home? Perhaps it's too perfect to pass up! So many factors come into play when purchasing real estate, and they aren't the same for everyone.

Anyways, good luck with the sale Jordan.

[jwslam]

Originally posted by vengie
How does this impact you what he lists it for? At the end of the day the market will dictate what it's worth when it inevitably sells.

Perhaps the buyer doesn't care about money involved? Perhaps it's a forever home? Perhaps it's too perfect to pass up! So many factors come into play when purchasing real estate, and they aren't the same for everyone.

Anyways, good luck with the sale Jordan.

[mazdavirgin]

Originally posted by vengie


How does this impact you what he lists it for? At the end of the day the market will dictate what it's worth when it inevitably sells.

Perhaps the buyer doesn't care about money involved? Perhaps it's a forever home? Perhaps it's too perfect to pass up! So many factors come into play when purchasing real estate, and they aren't the same for everyone.

Anyways, good luck with the sale Jordan.

I don't think it's fair to get your panties in a knot when all that was asked was an inquiry from Jordan about the price. No need to get all defensive and uppity because someone questioned the price on something that isn't even built. That you can't even walk through to see what the hell you are paying 50k over the purchase price. Not to mention with the current economics and market that question makes perfect sense.

Granted Jordan may not want to comment since it might run counter to his clients interests but that's his call.

[killramos]

I can think of tons of reasons why this is listed higher. Maybe there is a couple who really wanted in but missed the boat.
Its sold out.

Supply ( which is none) and demand ( which may be some), if someone really wanted that unit but missed the boat on buying it from the developer they might be willing to pay a 50k premium to get the unit they really wanted.

At the end of the day no one is going to let 50k amortized out on a mortgage get in the way of getting their dream home, esp on condos in this price range. That's also the list price, in reality after negotiating the premium could be half of that.

[jdmakkord]

How is this post any different than one in the marketplace? Maybe a mod should clean up the banter