BREAKING NEWS: Just Sold, Palace Place, Suite 2906 for the all-time record price of $930,000!

palace place suite 2906 sold

palace place suite 2906

Palace Place

Special Announcement: Palace Place, 1 Palace Pier Court, Suite 2906 has sold for the all-time record price of $930,000!

I have written to proudly announce that I have set yet another all-time record price at Palace Place by having just sold Suite 2906 for $930,000 by having represented the seller.

Last year, I had established price records from $850,000 to $880,000, which had served as a great foundation to build to this new record sale.

There is very little inventory at Palace Place, and many buyers are looking to purchase in Toronto’s most luxurious waterfront condominium residence. In fact, there are still several buyers looking for similar suites, so call me today if you would like to build upon this new record price.

This is a great accomplishment for 06 suites at Palace Place. It clearly demonstrates the value of a realtor who knows his product, has key connections, and can walk his talk.

Buyers take note!

Do the math! This sale price of $458 per square foot is truly a bargain when new, inferior construction is charging $700 to $1,000 per square foot. Why buy the K-car when you can own the Mercedes-Benz?

Buyers want space, and, most importantly, buyers want quality. New construction fails to deliver these two key requirements. Palace Place offers unrivalled construction, spacious floor plans, 5-star amenities and services, and million dollar views that you cannot find in new buildings today!

Come see what Palace Place has to offer! Call Luke Dalinda today!

E: LDALINDA@DALINDA.NET • TEL: 416-725-7170

Palace Place: The Dalinda Report, Humber Bay Shores edition, is out now!

Palace Place March 2016

Palace Place Toronto

The new issue of The Dalinda Report has just been posted!

Highlights:

  • Market update for Palace Place, Waterford, Ocean Club, Grenadier Landing, Nautilus, Marina Del Rey, and Newport Beach.
  • Bidding Wars continue at Palace Place with 2 record price sales.
  • Palace Place is getting the highest rent prices in Humber Bay Shores!
  • elevate, Palace Place, with Ramsin Khachi, was a huge success!

CLICK HERE TO DOWNLOAD

CLICK HERE TO DOWNLOAD PDF VERSION

Where is the market?

In the first quarter of 2016, there had been 78 sales of condominium units that had been sold for under $450,000 in the Humber Bay Shores area.

During this time, there had only been 27 sales of condominium units that had been sold for above the $450,000 price point. Of that amount, there had only been 7 sales of condominium units that had been sold for between $500,000 and $600,000. Of those, only 1 sale was from Palace Pier and 1 sale was from Ocean Club.

Finally, since January 2016, there had only been 9 sales of condominium units that had been sold for above $700,000. Of those, only 1 sale was from Palace Place, 1 sale was from Newport Beach, and 1 sale was from Marina Del Rey.

Condo Spotlight

Palace Place had experienced low inventory in the first quarter of 2016, which had resulted in intense bidding wars for the 2 sales that had occurred during this period. With its 2015 average price at only $433 per square foot and on the rise, these multiple offers had come from astute buyers, who had recognized the tremendous value in the quality construction, large spaces, and numerous amenities and services that Palace Place offers.

Newport Beach had achieved 4 sales during this first quarter highlighting the demand for functional floor plans and recognizing the value in good building management.

There were 5 sales at the Waterford Towers, but no sales and no new listings from Waterford (2095) where there continues to be a strong demand for large high-end suites.

TESTIMONIAL

June 1, 2015

Dear Luke,

The prospect of selling one’s home is a daunting one. So much history and so many memories are inevitably involved.

Thank you for making this process as smooth as it could possibly be. Your professionalism, expertise and bountiful good humour have actually made the experience enjoyable.

The fact that you were able to sell my condominium in one day for a record price speaks volumes.

Many, many thanks for a job thoroughly well done!

Best,

Nan Ruhnke

Palace Place Toronto

Palace Place, Suite 4309: Just Leased for the RECORD PRICE of $3,000 per month!

palace place Sold Card - PP 4309Leased

Palace Place

I have written to announce that I have set yet another all-time record price at Palace Place by having just leased Suite 4309 for $3,000 per month.

With the most breathtaking views in Toronto, unrivalled construction, space to actually live in, and a private shuttle to Union Station, Palace Place is the ultimate place to call home for Toronto professionals.

Come see what Palace Place has to offer! Call Luke Dalinda today!

E: LDALINDA@DALINDA.NET • TEL: 416-725-7170

Did you miss Elevate, Palace Place? Watch these videos!

Palace Place

For a small experience of all that was Elevate, Palace Place, please watch these short videos. Be sure to keep in touch for future seminars and follow the Elevate Seminar link on this website.
BenjaminMooreImage

Palace Place elevate video

We have some swag bags left. If you would like one, send an email to Luke now! LDALINDA@DALINDA.NET

Come see what Palace Place has to offer! Call Luke Dalinda today!

E: LDALINDA@DALINDA.NET • TEL: 416-725-7170

Palace Place got Elevated!

The Palace Place Elevate seminar was a huge success!

PalacePlaceElevateCrowd

palace place elevate audience

The room was filled to the max on Thursday night, as Luke Dalinda had presented the Elevate seminar, with Benjamin Moore and Ramsin Khachi.

For a recap of the event, watch the following video below (click to play) and follow the new Elevate Seminar link on this website.

We have some swag bags left. If you would like one, send an email to Luke now! LDALINDA@DALINDA.NET

Palace Place RamsinInt

Come see what Palace Place has to offer! Call Luke Dalinda today!

E: LDALINDA@DALINDA.NET • TEL: 416-725-7170

 

elevate, Palace Place is THIS THURSDAY!

Palace Place

The elevate seminar, with Ramsin Khachi, is this Thursday. Confirmed guests have been sent an order of events agenda.

Benjamin Moore will also make a presentation on 2016 colour trends. It will be a fantastic night!

While the event is fully booked, if you would like your name added to our rush line list, in the event of last minute cancellations, please email LDALINDA@DALINDA.NET as soon as possible.

palace place elevateframe

Palace Place: The Dalinda Report, Humber Bay Shores edition, is out now!

palace place 01a - Dalinda Report (Jan 16)sm

Palace Place Toronto

The new issue of The Dalinda Report has just been posted!

Highlights:

  • Annual report for Palace Place, Waterford, Grand Harbour, Grenadier Landing, Nautilus, Marina Del Rey, and Newport Beach.
  • Get ready for elevate, Palace Place, with Ramsin Khachi!

CLICK HERE TO DOWNLOAD

Where is the market?

In 2015, there had been 458 sales of condominium units that had been sold for under $450,000 in the Humber Bay Shores area.

During this time, there had only been 173 sales of condominium units that had been sold for above the $450,000 price point. Of that amount, there had only been 50 sales of condominium units that had been sold for between $500,000 and $600,000. Of those, only 4 sales were from Palace Place, 2 were from Waterford, 3 were from Newport Beach, 3 were from Marina Del Rey, and 4 were from Grand Harbour.

Finally, since January 2015, there had only been 42 sales of condominium units that had been sold for above $700,000. Of those, only 5 sales were from Palace Place, 6 were from Waterford, 9 were from Palace Pier, and 5 were from Marina Del Rey. Newport Beach and Grand Harbour, with the exception of 2 townhouses, had no sales in this range, and the balance was from Waterview and Waterscapes.

TESTIMONIAL

June 4, 2015

Luke, because of your efforts we sold our late mothers condo at a record high price and well above what the other agents, that we considered, were even willing to list it for. We didn’t choose you just because you offered to list at the highest price, rather we chose you because you had a specific strategy and plan to overcome those price perceptions and barriers. And you did it – highest price and in less than 30 days. We were also impressed with how you cultivated the interested buyers and agents and negotiated. Great marketing, great negotiation you earned your commission — Thank you Luke

Chris, Grant, and Jeff Henderson
Marina Del Rey

This report article has been written by Luke Dalinda.
All statistics have been provided by the Toronto Real Estate Board, Royal LePage, and The Dalinda Report.
TM © The Dalinda Report. All rights reserved.
The information that has been written herein has been obtained from sources that have been deemed reliable. There has been no reason to doubt its accuracy, but, regretfully, it cannot be guaranteed.

Palace Place Toronto

Sunrise at Palace Place

Palace Place sunrise

Sunrise at Palace Place, Toronto’s most luxurious waterfront condominium residence.

Come see what Palace Place has to offer! Call Luke Dalinda today!

E: LDALINDA@DALINDA.NET • TEL: 416-725-7170

Palace Place, elevate: Update

Palace Place

You can watch Ramsin Khachi tomorrow at 10 AM on The Marilyn Denis Show on CTV. Tomorrow, Ramsin will tap into a loft space’s untapped potential with a stunning makeover!

Ramsin will be at Palace Place on February 11 for elevate, Palace Place!

The elevate seminar is now fully booked.

If you would like your name added to our rush line list, please email LDALINDA@DALINDA.NET as soon as possible.

A special message from Ramsin Khachi…

Palace Place elevate video

elevate, Palace Place: SOLD OUT!

Palace Place

The elevate seminar is now almost fully booked.

If you would still like to attend, please email LDALINDA@DALINDA.NET as soon as possible.

A special message from Ramsin Khachi…

Palace Place elevate video

Luke Dalinda invites you to elevate…

palace place elevateDear Fellow Palace Place Owners,

I have written this letter to invite you to a very special event in February at Palace Place.

This year has been an exceptional year for Palace Place. We have seen the return of bidding wars for several of my listings and strong record prices.

I am proud and honored to have again been the #1 top selling realtor for Palace Place for 2015.

Suite 906* Record Price
Suite 1205**** Record Price
Suite 1612**** Record Price
Suite 3408* Record Price
Suite 2302* Record Price
Suite 2007**** Just Sold
Suite 2306* Just Sold
Suite 1612* Record Lease Price
Suite 402* Record Lease Price
Suite 1503* Record Lease Price
Suite 703* Record Lease Price
Suite 302* Record Lease Price
Suite 2207** Leased
Suite 3305** Leased
*Seller Rep., **Buyer Rep., ****Seller & Buyer Rep.

We can always do more to increase our values at Palace Place. As such, I would like to invite you to my new design seminar series, elevate.

This seminar will offer you cost-effective improvements that can maximize the value and enjoyment of your condominium.

On February 11, 2016 at 7 PM on the Palace Place 47th floor, one of Toronto’s top designers, Ramsin Khachi, will deliver a 45-minute presentation followed by and Q & A session.

This event will be catered with refreshments. Due to limited seating, you will need to RSVP in advance to attend this free event. Please email me at: LDALINDA@DALINDA.NET

See you there!

Luke Dalinda

Luke Dalinda, Sales Representative. Royal LePage Real Estate Services Ltd., Brokerage
Tel: 416-725-7170 • Email: LDALINDA@DALINDA.NET • Web: http://PalacePlace.Dalinda.net
Such achievement has been based on the number of sales that had been sold by the Dalinda team in 2015 from Royal LePage and MLS data.

Better Exposure. Better Results. See what Luke’s clients say…

PalacePlaceTestimonialsBetter Exposure. Better Results. See what Luke’s clients say…

Visit the testimonials link on this blog to see what Luke Dalinda’s clients are saying!

Testimonials.Dalinda.net

Achieve your goals, and get the deal done.

Call Luke Dalinda today!

E: LDALINDA@DALINDA.NET • TEL: 416-725-7170

 

Palace Place HAT TRICK! Bidding Wars continue!

Palace Place Suite 2306 SoldSpecial Announcement: 1 Palace Pier Court, Suite 2306 sold for $850,000!

I have written to proudly announce that I have set yet another multiple offer bid at Palace Place by having just sold Suite 2306 for $850,000 by having represented the sellers.

This sale represents my third listing in a row to achieve a bidding war at Palace Place.

Do you want to set the next record? Call Luke Dalinda today!

E: LDALINDA@DALINDA.NET • TEL: 416-725-7170

JUST LISTED! Palace Place, 1 Palace Pier Court, Suite 2306 – For sale at $869,000

palace place 2306Palace Place Suite 06 Viewpalace place 2306 floor planPalace Place, 1 Palace Pier Court, Suite 2306 – For sale at $869,000
A spacious 2-bedroom suite with forever views…

Breathtaking is the word that best describes Palace Place, which is the most prestigious, luxurious, and best managed waterfront condominium residence in Canada. Suite 2306 is a magnificent, totally renovated condominium residence, with approximately 1,985 square feet of living space and enchanting views of Lake Ontario, the city, and the Humber Bay Shores parkland. Click for flyer. Call or send an email now to Luke.

Luke Dalinda, Sales Representative. Valentina Morasky, Sales Representative. Royal LePage Real Estate Services Ltd., Brokerage.

The Dalinda Palace Place Report, September 2015, is out!

palace place report september 2015

The new issue of The Dalinda Report has just been posted!

Highlights:

  • Suite 1205 had sold for the record price of $560,000, or $456 per square foot.
  • Suite 1612 had sold for $355,000.
  • Suite 906 had sold for the record price of $880,000.
  • Suite 2306 is for sale at $869,000.
  • Suite 2007 is for sale at $339,000.

CLICK HERE TO DOWNLOAD

PALACE PLACE

Palace Place had experienced a strong period from June 1, 2015 to September 4, 2015, as total sales had increased marginally from 9 sales in 2014 to 10 sales in 2015.

This summer saw the return of bidding wars and great record prices at Palace Place.

I had sold Suite 1205 for $560,000, or $456 per square foot, by having represented the seller. I had sold Suite 1612 for $355,000 by having represented the buyers and sellers. I had sold Suite 906 for $880,000 by having represented the seller.

To find out how you can attract a bidding war for your suite too, please call me (416) 725-7170.

From January 1, 2015 to September 4, 2015, the average price per square foot for Palace Place had been $425, which had been up from $405 in 2014, and a dramatic rise of 14.5% from $371 in 2012 (2012 had marked the beginning of major improvements at Palace Place).

Where is the market?

So far this year, there had been 322 sales of condominium units that had been sold for under $450,000 in the Humber Bay Shores area.

During this time, there had only been 121 sales of condominium units that had been sold for above the $450,000 price point. Of that amount, there had only been 37 sales of condominium units that had been sold for between $500,000 and $600,000. Of those, only 4 sales were from Palace Place.

Finally, since January 2015, there had only been 28 sales of condominium units that had been sold for above $700,000. Of those, only 5 sales were from Palace Place.

To continue to elevate our price per square foot, we must be sure to do everything possible to make our suites presentable. Palace Place has been long known for its luxury standard, but we need to ensure that our suites live up to that standard too!

It is for this reason that I am now offering clients free staging consultation and basic suite repair services as an addition to my already extensive list of listing service offerings.

As an owner at Palace Place and the longest serving realtor, I am highly motivated to achieve record prices. I am on-site and on-call 24/7. I am the only Palace Place realtor that has been recognized as one of the top advertisers in The Toronto Star, and I have advertised the most in The Globe & Mail. Add my website, homes and condos newsletters, Google, and other strategic initiatives, and you will quickly discover why I get the deal done!

Dollar for dollar, I offer the most marketing services for the least commission. Give me a call, or send me an email, for a confidential consultation at no charge or obligation.

As always, I am honored to be considered for your real estate needs. Thank you for your time.

TESTIMONIAL

May 29, 2015

Luke is a dedicated professional agent whose Palace Place/Humber Shore knowledge and insights have surpassed all of our expectations. Furthermore, he is a joy to work with!

Luke has helped us both lease and sell our beloved apartment.

When we requested he put together a marketing strategy for the sale of our property, he delighted us by scoring the first ever Palace Place “Condo of the Week” award in the Toronto Life publication.

His insights on the building and the neighboring buildings are something that he has achieved through years of hard work and from residing in the building, which I believe distinguishes him from other agents in the area.

We always found Luke to be honest, and sage in his recommendations.

There is truly no reason to consider anyone else while searching for a real estate agent to represent you in the Humber shores area.

Jill Richardson

This report article has been written by Luke Dalinda.
All statistics have been provided by the Toronto Real Estate Board, Royal LePage, and The Dalinda Report.
TM © The Dalinda Report. All rights reserved.
The information that has been written herein has been obtained from sources that have been deemed reliable. There has been no reason to doubt its accuracy, but, regretfully, it cannot be guaranteed.

Palace Place Toronto

Multiple Offers have returned to Palace Place! Just Sold: 1 Palace Pier Court, Suite 1205 for $560,000!

palace place Sold Card - PP 12053C0A7049Special Announcement: 1 Palace Pier Court, Suite 1205 sold for $560,000!

(Sold for over asking!)

I have written to proudly announce that I have set yet another record price at Palace Place by having just sold Suite 1205 for $560,000, or $456 per square foot, by having represented the seller.

This sale represents the highest price ever paid for a low-floor 05 suite! This suite was sold in a multiple offer situation in 1-day, a clear indicator of the tremendous opportunity that Palace Place offers condominium buyers.

This is a great accomplishment for low-rise 05 suites at Palace Place. It clearly demonstrates the value of a realtor who knows his product, has key connections, and can walk his talk.

Buyers take note!

Do the math! This sale price of $456 per square foot is a bargain when new, inferior construction is charging $700 to $1,000 per square foot. Why buy the K-car when you can own the Mercedes-Benz?

Buyers want space, and, most importantly, buyers want quality. New construction fails to deliver these two key requirements. Palace Place offers unrivalled construction and magnificent floor plans that you cannot find in new buildings today!

Come see what Palace Place has to offer! Call Luke Dalinda today!

E: LDALINDA@DALINDA.NET • TEL: 416-725-7170

JUST LISTED! Palace Place, 1 Palace Pier Court, Suite 1205 – For sale at $558,000

3C0A7049palace place 1205Palace Place 1205 Floor PlanPalace Place, 1 Palace Pier Court, Suite 1205 – For sale at $558,000

Breathtaking is the word that best describes Palace Place, which is the most prestigious, luxurious, and best managed waterfront condominium residence in Canada. Suite 1205 is a highly sought-after, immaculate condominium residence, with approximately 1,228 square feet of living space and enchanting views of the lake. Click for flyer. Call or send an email now to Luke.

Luke Dalinda, Sales Representative. Valentina Morasky, Sales Representative. Royal LePage Real Estate Services Ltd., Brokerage.

 

JUST SOLD: Palace Place, Suite 906 for the RECORD PRICE of $880,000! Toronto Life Condo of the Week!

palace place Sold Card - PP 906toronto-life-logo-2010IMG_7648Palace Place Suite 906Palace Place Suite 906Special Announcement: 1 Palace Pier Court, Suite 906 sold for $880,000!

I have written to proudly announce that I have set yet another record price at Palace Place by having just sold Suite 906 for $880,000 by having represented the seller.

A while back, Toronto Life had awarded Palace Place the prestigious Condo of the Week title for Suite 906.

See the article here.

This is a great accomplishment for low-rise 06 suites at Palace Place, which offer magical water views and lots of space.

Achieve your goals, and get the deal done!

E: LDALINDA@DALINDA.NET • TEL: 416-725-7170

 

The Dalinda Palace Place Report, May 2015, is out!

palace place report may 2015The new issue of The Dalinda Report has just been posted!

Highlights:

  • Suite 2302 had sold for the record price of $585,000, or $486 per square foot.
  • Suite 3408 had sold for the record price of $490,000.
  • Suite 2306, totally renovated, is for sale at $899,000.
  • Suite 402, featuring a modified floor plan and 2nd shower, is for sale at $589,000.

CLICK HERE TO DOWNLOAD

Palace Place

Palace Place had experienced a strong first four months of 2015. Total sales had decreased from 11 sales in the first four months of 2014 to 10 sales in the first four months of 2015.

The record sales during this time were my sales of Suite 2302 for $585,000, which is $486 per square foot, and Suite 3408 for $490,000.

The average price per square foot for Palace Place for 2014 had been $405, which had been up from $399 in 2013, a dramatic rise from $371 in 2012.

The highest price per square foot that has been achieved for Palace Place remains my personal record at $515 per square foot.

Recently, I was touring Palace Place with a twenty-something Bay Street investment banker. Being 37, I can say that this was one of the first times that I felt old.

Having shown Palace Place more than any other realtor, this tour was an eye-opening experience into what this young, hip demographic looks for in a condo.

What I had quickly discovered was a lack of tolerance for suites that did not make a presentation effort.

We see it repeatedly in the home improvement TV shows. It takes a lot of effort to ready your home for sale. By not putting in that effort, or expecting buyers to have vision to see beyond, you only jeopardize your sale.

In this case, the suites that clearly did not make the effort were even more quickly dismissed.

To elevate our price per square foot, we must be sure to do everything possible to make our suites presentable. Palace Place has been long known for its luxury standard, but we need to ensure that our suites live up to that standard too!

It is for this reason that I am now offering clients free staging consultation and basic suite repair services as an addition to my already extensive list of listing service offerings.

As an owner at Palace Place and the longest serving realtor, I am highly motivated to achieve record prices. I am on-site and on-call 24/7. I am the only Palace Place realtor that has been recognized as one of the top advertisers in The Toronto Star, and I have advertised the most in The Globe & Mail. Add my website, homes and condos newsletters, Google, and other strategic initiatives, and you will quickly discover why I get the deal done!

Dollar for dollar, I offer the most marketing services for the least commission. Give me a call, or send me an email, for a confidential consultation at no charge or obligation.

As always, I am honored to be considered for your real estate needs. Thank you for your time.

TESTIMONIAL

February 23, 2015

Luke,

You are ‘the man’ when it comes to selling units in the Palace Place! Your encyclopedic knowledge of the building and prices is invaluable. You are a great cheerleader who helps others recognize the enormous value in our property. You gave us great advice with regard to staging and pricing our condo. And you also made sure every potential purchaser saw how much the Palace Place has to offer. We were so pleased that you used your connections in the real estate community allowing you to achieve a record price for our unit in fewer than 7 days of showing.

Your connections, an excellent brochure, and great online package brought us three offers in a very short time, which ensured that we were able to pick the price, conditions, and closing date we wanted. We can’t thank you enough, and we encourage others to seek out your assistance.

Dr. Glenn Zederayko and Ms. Claire Foley

This report article has been written by Luke Dalinda.
All statistics have been provided by the Toronto Real Estate Board, Royal LePage, and The Dalinda Report.
TM © The Dalinda Report. All rights reserved.
The information that has been written herein has been obtained from sources that have been deemed reliable. There has been no reason to doubt its accuracy, but, regretfully, it cannot be guaranteed.

Palace Place Toronto

JUST LISTED! Palace Place, 1 Palace Pier Court, Suite 402 – For sale at $589,000

palace placepalace place 402 viewPalace Place, 1 Palace Pier Court, Suite 402 – For sale at $589,000

Breathtaking is the word that best describes Palace Place, which is the most prestigious, luxurious, and best managed waterfront condominium residence in Canada. Suite 402 is a spacious, renovated condominium residence, with approximately 1,204 square feet of living space and stunning views of the city and lake. Click for flyer. Call or send an email now to Luke.

Luke Dalinda, Sales Representative. Valentina Morasky, Sales Representative. Royal LePage Real Estate Services Ltd., Brokerage.

JUST SOLD: Palace Place, Suite 3408 for the RECORD PRICE of $490,000!

Palace Place Suite 3408

palace place suite 3408Special Announcement: 1 Palace Pier Court, Suite 3408 sold for $490,000!

I have written to proudly announce that I have set yet another record price at Palace Place by having just sold Suite 3408 for $490,000 by having represented the seller. Before this record price, the last sale price for a high-rise 08 suite had been $445,000.

I have also set the record price for the low-rise 08 suites at $547,000.

This is a great accomplishment for high-rise 08 suites at Palace Place. It clearly demonstrates the value of a realtor who knows his product, has key connections, and can walk his talk.

Considering a sale? Achieve your goals, and get the deal done!

Call Luke Dalinda today!

LDALINDA@DALINDA.NET • 416-725-7170

JUST LEASED: Palace Place, Suite 302 for $2,500 per month!

Palace Place Suite 302Listed for $2,300 per month. Leased for $2,500 per month!

I have written to announce that I have set yet another achievement at Palace Place by having just leased Suite 302 for $2,500 per month.

JUST LEASED: Palace Place, Suite 703 for the RECORD PRICE of $4,650 per month!

palace place Sold Card - PP 703LeasedI have written to announce that I have set yet another all-time record price at Palace Place by having just leased Suite 703 for $4,650 per month.

JUST LEASED: Palace Place, Suite 1503 for the RECORD PRICE of $4,650 per month!

Palace Place Sold Card - PP 1503LeasedI have written to announce that I have set yet another all-time record price at Palace Place by having just leased Suite 1503 for $4,650 per month.

The Dalinda Palace Place Report, February 2015, is out!

Palace Place DalindaReportFeb2015_SMALLThe new issue of The Dalinda Report has just been posted!

Highlights:

  • The Palace Place average price per square foot had increased to $405 in 2014.
  • Suite 2302 had sold for the record price of $585,000, or $486 per square foot.
  • Suite 3408 is for sale at $514,888.
  • Suite 2306 is for sale at $899,000.
  • The average home price in Toronto has been forecast by Royal LePage to increase by 4.5% for 2015.

CLICK HERE TO DOWNLOAD

Palace Place

Palace Place had experienced a slow, but stable year in 2014. Total sales had increased slightly from 27 sales in 2013 to 28 sales in 2014.

The average price per square foot for Palace Place for 2014 had been $405, which had been up from $399 in 2013, a dramatic rise from $371 in 2012.

The highest price per square foot that has been achieved for Palace Place remains my personal record at $515 per square foot.

I am grateful and humbled to have once again been the top selling realtor for Palace Place for 2014, and I am honored to have been named one of Toronto’s Top Real Estate Marketers by the Toronto Star. My team has just achieved one of the highest distinctions in the Canadian real estate industry by having achieved the National Chairman’s award for the top 1% in Canada at Royal LePage.

In 2014, Palace Place was dominated by outside realtors who had otherwise never done a deal at Palace Place before. Some owners are not doing their homework and far too often have accepted lower market valuations from realtors looking to make a quick sale.

Buyers take note!

When these new shoebox condos are selling for $700 to $1000 per square foot, you can see that there is a lot of room for improvement in our $405 per square foot average.

Where is the market?

In 2014, there had been 408 sales of condominium units that had been sold for under $450,000 in the Humber Bay Shores area.

During this time, there had only been 123 sales of condominium units that had been sold for above the $450,000 price point. Of that amount, there had only been 51 sales of condominium units that had been sold for between $500,000 and $600,000. Of those, only 11 sales were from Palace Place.

Finally, since January 2014, there had only been 31 sales of condominium units that had been sold for above $700,000. Of those, only 6 sales were from Palace Place.

Traditionally, Palace Place has stood on its own with the introduction of new condo buildings into the marketplace. These new buildings are definitely not Palace Place, but they are very modern, brand new condos that offer great views and balconies.

What buyers fail to consider when infatuated with these “new” condos are construction, window wall construction versus curtain wall construction, financial health of the condo corporation, special assessments, what the fees include, what are the fees per square foot in comparison, etcetera. The “new” factor of a condo is lost within 5-years. Buyers need to consider these facts carefully, but, unfortunately, they are given comparisons of all things being equal.

Despite its far superior construction, Palace Place has experienced a challenge in competing with this “new factor”. Add the challenges of qualifying for a mortgage under the new rules, and it is clear how we have seen a decrease in sales since 2012.

A key question that must be asked in our upcoming Federal Election is what are the parties going to do to make mortgages more accessible to hardworking Canadians. Low rates do not cut it, when those who deserve to qualify cannot from inept bureaucracy.

In 2015, we will see even more new inventory come on the market, and a lot more is scheduled for 2016. It will take hard work and passion to keep the incredible value proposition of Palace Place at the forefront.

I continue to seek innovative solutions to attract buyers to your suite. I truly believe that Palace Place is the best-built building in Toronto and one of the city’s foremost residential opportunities.

This report article has been written by Luke Dalinda.
All statistics have been provided by the Toronto Real Estate Board, Royal LePage, and The Dalinda Report.
TM © The Dalinda Report. All rights reserved.
The information that has been written herein has been obtained from sources that have been deemed reliable. There has been no reason to doubt its accuracy, but, regretfully, it cannot be guaranteed.

Palace Place Toronto