Palace Place is Toronto’s most luxurious waterfront condominium residence, featuring every conceivable 5-star amenity, including valet parking, a private shuttle to downtown, and a Les Clefs d’Or concierge.
Palace Place, 1 Palace Pier Court, Suite 3410 – Just Sold in 1-day!
(Represented Seller)
In these times of market uncertainty, it takes experience to get the deal done.
Luke Dalinda has almost 3-decades of encyclopedic knowledge in selling at Palace Place.
Let him be your guide.
“ I can’t say enough about the incredible job Luke Dalinda did in finding a buyer for my Palace Place condo, even amidst the toughest market conditions I’ve seen. Currently the luxury condo market is grappling with an oversupply of units, picky buyers favoring larger, livable spaces over smaller investments, and economic uncertainty from trade tensions and stubbornly high interest rates. Despite these hurdles, Luke brought unmatched expertise, determination, and a tailored strategy that turned challenges into opportunities. He navigated the glut of listings and shifting buyer demands with finesse, showcasing my property’s unique value to stand out in a crowded market. Thanks to Luke’s relentless effort and sharp insight, we secured the perfect buyer faster than I thought possible in such a complex landscape. ” – Sunil Tanksali
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Palace Place, 1 Palace Pier Court, and Palace Pier, 2045 Lake Shore Boulevard West, in Humber Bay Shores.
Palace Place, 1 Palace Pier Court, Suite 3502 – $1,499,000
A sanctuary in the sky where every moment is framed by breathtaking beauty and effortless luxury. Suite 3502 is an awe-inspiring, completely redesigned condominium residence, with 1,186 square feet of luxury living space, 2-bedrooms, 3-bathrooms, and boundless water views stretching to the south and spectacular city views painting the sky to the east. This trophy residence has been thoughtfully built using the finest materials, refined finishes, one-of-a-kind details, and quality craftsmanship that have been beautifully combined to create sleek, modern bliss.
Contact Luke Dalinda now for your exclusive opportunity to tour this incredible opportunity!
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Palace Place, 1 Palace Pier Court, and Palace Pier, 2045 Lake Shore Boulevard West, in Humber Bay Shores.
Today, the Bank of Canada has announced its seventh consecutive policy rate drop to 2.75%.
Condo buyers, who have remained on the sidelines for all of 2024, should take great comfort from this announcement, as it signals the time to buy. Prices will ultimately increase as the cycle of sales starts again. Unfortunately, many current buyers still lack the confidence to act given the turmoil, challenges, and uncertainty of the past year.
Because of what we call “heard mentality”, it typically takes 1.5 weeks for the buyer market to react to rate announcements. This news bodes very well for Palace Place going forward, and it demonstrates that the time to buy is now as prices should increase as activity increases.
Best rates that we have seen so far:
3 year fixed at 4.09%
5 year variable at 4.25%
The next scheduled date for announcing the overnight rate target is April 16, 2025.
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Palace Place, 1 Palace Pier Court, and Palace Pier, 2045 Lake Shore Boulevard West, in Humber Bay Shores.
Tariff threats have created great uncertainty for buyers. While 2025 was forecast to be the year of recovery from the challenging 2024 market, these new political issues have led to fear and concern over the future. Having Canada’s Prime Minister literally cry on national television saying, “This is going to be tough”, has not inspired confidence for Canadians, who, regardless of political affiliation, are all expecting new, stable leadership and a return to an operational parliament to properly address these challenges.
Economists are split on predictions for the next rate announcement from the Bank of Canada, coming this Wednesday, March 12. Some believe the rates will drop to spur needed activity. Others believe that the Bank of Canada could hold or increase rates to control expected inflation from the tariffs.
Two recent news articles on the Toronto condo market have been linked for your review.
In the Globe article, we note the advice, “If you’ve got a number in your head, you’ve got to get that number out of your head and focus on what’s selling,” she says. “If I see things come out at the right price, they do sell and they do sell fast.”
The Toronto Star news bodes well for Palace Place, 1 Palace Pier Court in that Palace Place offers the space that buyers need that they cannot find in these shoebox condos that charge significantly more per square foot.
As we watch the theatrics on the global stage, uncertainty is the only guarantee.
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Palace Place, 1 Palace Pier Court, and Palace Pier, 2045 Lake Shore Boulevard West, in Humber Bay Shores.
Palace Place, 1 Palace Pier Court, Suite 1605 – $1,299,000
On a clear day, you can see forever! Suite 1605 is a highly sought-after condominium residence, with approximately 1,228 square feet of living space, 2-bedrooms, 2-baths, and the most enchanting forever views of Lake Ontario.
Brand new Vidar engineered American Oak hardwood floors have just been installed throughout.
Contact Luke Dalinda now for your exclusive opportunity to tour this incredible opportunity!
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Palace Place, 1 Palace Pier Court, and Palace Pier, 2045 Lake Shore Boulevard West, in Humber Bay Shores.
Palace Place, 1 Palace Pier Court, Suite 804 – $799,000
The only 1-bedroom suite style with a water view!
Suite 804 is a stunning, renovated condominium residence, with approximately 790 square feet of living space, 1-bedroom, and the most enchanting water views. The parking spot includes EV charging!
Contact Luke Dalinda now for your exclusive opportunity to tour this incredible opportunity!
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Palace Place, 1 Palace Pier Court, and Palace Pier, 2045 Lake Shore Boulevard West, in Humber Bay Shores.
Elon Musk explaining how to make life more affordable in the USA while Canada continues its deep sleep.
UPDATED: February 21, 2025 at 11:11 AM
Palace Place
It does not matter where good ideas come from. Good ideas solve problems. If we take the example of our American neighbours and focus on the core causes of high interest rates, we can take significant actions to make life more affordable for all Canadians.
In a recent interview with Fox News, Elon Musk has said:
“If we address the massive deficit spending, the sort of the waste in the government then we can actually address inflation. So provided the economy grows faster than the money supply, which means (when) you stop the government overspending and the waste and the output of real, useful goods and services exceeds the increase in the money supply, you have no inflation, and you also drop the interest payments that people pay. Because if the government keeps too high. Yes. The reason the interest payments are so high is because the national debt keeps increasing. So the government is competing for to sell debt with, with the private citizens. This drives up the interest rate. So if you have a if you have a if you cut back on the deficit, you actually have an amazing situation for people because you get you get rid of inflation and you drop the interest rates. And that means people’s mortgage payments go down, the credit card payments go down, the car payments go down, the student loans go down, everything their their life becomes more affordable and their standard of living improves.”
These are the core questions that must be asked in Canada, yet no one is talking about them. The media does not ask the questions, and the politicians remain obsessed on woke agendas.
When I had first been elected as President of Palace Place, we took immediate, meaningful actions against wasteful spending. Such collective efforts have led to one of the highest reserve funds in Toronto, past budgets of an unprecedented 4 consecutive years of 0% fee increases, which have since been followed by below inflation increases, numerous energy efficiencies, saving Palace Place in excess of $3-million, well negotiated cable and Internet agreements, proactive maintenance, and a recent property valuation of $1,168 per square foot.
Why can’t our government do this? No one is even talking about it, while we witness over 400 personal bankruptcies per day in this country. It is absolutely mind boggling.
As a longtime Palace Place owner puts it, “When money is available at a cheap rate and more money is printed, the only thing that becomes visible is top-line growth. However, this growth is sustained only until the source of cheap money is exhausted.”
Consider just this single comparison example of overgrown government bureaucracy with our American neighbours:
IRS total employees – 79,000 American population – 342,000,000 (approx)
CRA total employees – 60,000 Canadian population – 39,000,000 (approx)
What will it take for Canada to wake up?
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Palace Place, 1 Palace Pier Court, and Palace Pier, 2045 Lake Shore Boulevard West, in Humber Bay Shores.
Meet Water’s Edge, 38 Annie Craig Drive, Humber Bay Shores’ newest condominium. Water’s Edge is a 56-storey luxury waterfront condominium residence that contains 602 suites.
Despite all the doom and gloom in the news media about the pre-con market going bust, it is very interesting to see the latest condominium project in Humber Bay Shores hold firm to its pricing since May 5, 2024.
The condo market has taken a punch over the last year due to delayed interest rate reductions, and, even now, remains slow as consumer confidence has taken a toll due to the current political climate. Despite this, reputable builders like The Conservatory Group have held firm to their pricing strategies for their remaining inventory.
For more on Water’s Edge, visit our microsite at: 38AnnieCraig.comThe Waterford penthouse collection at Water’s Edge is not to be confused with The Waterford condominium complex.
Here you will see prices per square foot ranging from $1,669 per square foot to $1,861 per square foot for penthouse suites. These prices have held firm since May 5, 2024.
While Palace Place owners are eroding their property values by chasing the market down with price reductions, builders are realizing that there is a payoff in waiting. Right now, renovated Palace Place suites can be had for on average $1,000 per square foot. These are amazing deals that will not last long, especially once the cycle of buying kicks off for 2025.
When it comes to new construction, newer IS NOT better.
When new, inferior construction is charging up to $1,900 per square foot, buyers are learning of the incomparable advantages that only Palace Place can offer. 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 forever views that you cannot find in new buildings today!
Palace Place is an Amazing Deal for Buyers: Where else can you get the 5-star life for this price?
Always remember that condos are not apples to apples comparisons. Buyers must do their due diligence to know exactly what they are buying into. The province does not mandate full disclosure of construction to buyers to the buyers’ detriment, so buyers must do their homework. Yet, sadly they don’t. Buyers ultimately fall for the dreams that builders sell instead of recognizing the harsh realities.
Here at PalacePlace.com we can tell you every single detail about Palace Place and why there is not a condo in Toronto that can compare to it. Just peruse this blog for details you will not find from other condos or call Luke Dalinda at anytime to learn more about the benefits of Palace Place.
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Palace Place, 1 Palace Pier Court, and Palace Pier, 2045 Lake Shore Boulevard West, in Humber Bay Shores.
Palace Place, 1 Palace Pier Court, Suite 1203 and Suite 1204: Sold Over Asking!
(Represented Buyer)
Luke Dalinda has just achieved an amazing two suite deal for Palace Place, by having just sold Suite 1203 and Suite 1204 for over asking after an intense bidding war, by having represented the buyer. This combined suite totals 2,775 square feet and offers an exclusive opportunity to be re-divided into two separate suites.
Palace Place is an Amazing Deal for Buyers: Where else can you get the 5-star life for this price?
The condo market has taken a punch over the last year due to delayed interest rate reductions, but Palace Place, when marketed properly, has proven resilient, as astute buyers recognize its quality of construction, wide range of spacious suites, and the most beautiful views ever.
In these times of market uncertainty, it takes experience to get the deal done.
Luke Dalinda has almost 3-decades of encyclopedic knowledge in selling at Palace Place.
Let Luke Dalinda get the deal done for you.
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Palace Place, 1 Palace Pier Court, and Palace Pier, 2045 Lake Shore Boulevard West, in Humber Bay Shores.
Mirabella, 1926 Lake Shore Blvd W, Penthouse 05E– $2,650,000
Mirabella is Palace Place’s direct neighbour to the east at Windermere Avenue.
Mirabella view to Palace Place
Welcome to the crown jewel of Mirabella where a New York state of mind overlooks jaw-dropping city and water views!
Penthouse 5E is a chic and sublime luxury condominium residence, with approximately 1,485 square feet of living space, 3-bedrooms, 3-bathrooms, a 143 square foot terrace, decadent designer finishes, and enchanting views of Lake Ontario and the Toronto city skyline.
Situated between High Park and Lake Ontario in Toronto’s sought-after Swansea Village, Mirabella is an elegant luxury waterfront condominium residence consisting of two 38-storey towers that are connected by a spectacular podium. Mirabella features every conceivable amenity, including a security system, with concierge service, and over 20,000 square feet of indoor and outdoor amenity space, including guest suites, an indoor pool, a yoga studio, a library, a party room, with a catering kitchen, a dining room, a business center, a children’s play area, a gym, and an outdoor terrace, with BBQs.
Contact Luke Dalinda now for your exclusive opportunity to tour this incredible opportunity!
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Palace Place, 1 Palace Pier Court, and Palace Pier, 2045 Lake Shore Boulevard West, in Humber Bay Shores.
Palace Place, 1 Palace Pier Court, Suite 2003 – $5,800
Suite 2003 is a stunning condominium residence, with approximately 1,985 square feet of luxury living space, 2-bedrooms, and the most immersive views of the lake, the city, and the Humber Bay Shores parklands.
Palace Place Gym Photo Tour
Contact Luke Dalinda now for your exclusive opportunity to tour this amazing opportunity!
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Palace Place, 1 Palace Pier Court, and Palace Pier, 2045 Lake Shore Boulevard West, in Humber Bay Shores.
The 2024 market had resulted in the second lowest number of sales since 2001 for Toronto’s real estate resale market, as the Toronto Real Estate Board had reported 67,610 sales of single-family dwellings in 2024.
Total sales had increased by 2.6% from the 65,877 sales that had been recorded in 2023, which was the lowest year-end total in 24-years, and total sales had decreased by 10% from the 75,045 sales that had been recorded in 2022.
Foolish policies by the Bank of Canada (BoC) to increase interest rates that were then followed by major rate drops had created a historic level of uncertainty and financial turmoil leading to the worst sales levels in two decades.
The year-end, January 1 to December 31, single-family dwelling cumulative average price for the Toronto area in 2024 had totalled $1,117,623, which had decreased by 0.7% from $1,126,263 in 2023.
December 2024
The month of December had proven to be challenged for Toronto’s real estate resale market, which had resulted in decreased sales, as the Toronto Real Estate Board had reported 3,359 sales of single-family dwellings in December 2024.
Total sales were down by 1.8% from the 3,419 sales that had been recorded in December 2023, and total sales had decreased by 43% from the 5,875 sales that had been recorded in November 2024.
The December average price had decreased by 1.6%.
The average price in December 2024 had decreased by 1.6% to $1,067,186 from $1,084,757 in December 2023. The December 2024 average price had decreased by 3.5% from the November 2024 average price of $1,106,050.
Looking just at the City of Toronto for December 2024, the average price for a detached home had been $1,624,500, while the average price for a condominium apartment had totalled $719,774, which had increased from $709,283 in December 2023.
Active listings had increased year over year but decreased from November.
The number of active listings in December 2024 had decreased by 29.4% to 15,393 from the 21,818 active listings in November 2024 and had increased by 48.5% from the 10,368 active listings in December 2023.
The Humber Bay Shores average price had totalled $667,733.
Condominium apartment sales in the W06 west district that represents Humber Bay Shores had decreased to 27 sales in December 2024 from 46 sales in November 2024. The average condominium price in this district had totalled $667,733 in December 2024, which had decreased by 7% from $718,020 in November 2024.
The W07 average price had totalled $2,295,000.
Home sales of detached houses in the W07 west district, which geographically represents Sunnylea, Thomson Orchard, and Spring Garden Park, had decreased to 3 sales in December 2024 from 10 sales in November 2024. The average detached home price in this district had totalled $2,295,000 in December 2024, which had increased by 39% from $1,647,500 in November 2024.
The W08 average price had totalled $1,795,307.
Home sales of detached houses in the W08 west district, which geographically represents Edenbridge, Humber Valley, North Drive, and The Kingsway, had decreased to 18 sales in December 2024 from 50 sales in November 2024. The average detached home price in this district had totalled $1,795,307 in December 2024, which had decreased by 18% from $2,190,304 in November 2024.
The W01 average price had totalled $3,518,333.
Home sales of detached houses in the W01 west district, which geographically represents Riverside Drive, Brule Gardens, and South Kingsway, had decreased to 3 sales in December 2024 from 9 sales in November 2024. The average detached home price in this district had totaled $3,518,333 in December 2024, which had increased by 78% from $1,968,000 in November 2024.
The Oakville average price had totaled $2,049,830.
Home sales of detached houses in Oakville had decreased to 47 sales in December 2024 from 111 sales in November 2024. The average detached home price in this district had totaled $2,049,830 in December 2024, which had decreased by 4% from $2,133,109 in November 2024.
Where is the market?
In 2024, there had been 390 sales of condominium units that had been sold for under $750,000 in the Humber Bay Shores area.
During this time, there had been 219 sales of condominium units that had been sold for above the $750,000 price point. Of that amount, there had been 143 sales of condominium units that had been sold for between $750,000 and $1,000,000. Of those, 3 sales were from Palace Place, 8 were from Palace Pier, none were from Waterford, 5 were from Ocean Club, 2 were from Lago, and 7 were from Vita.
There had been 62 sales of condominium units that had been sold for between $1,000,000 and $1,500,000. Of those, 6 sales were from Palace Place, 7 were from Palace Pier, 2 were from Ocean Club, 5 were from Lago, and 1 was from Vita.
Finally, 15 sales were sold for over $1.5M. Of those, 3 sales were from Palace Place, 6 sales were from Waterford, 3 were from Palace Pier, 1 was from Vita.
Looking at Mirabella, which is outside Humber Bay Shores, there were 47 sales in 2024.
There had been 34 sales that had been sold for under the $750,000. During this time, there had been 13 sales above the $750,000 price point. Of that amount, there had been 5 sales of condominium units that had been sold for between $750,000 and $1,000,000.
Finally, there were 8 sales that had been sold from $1M to $1.2M.
Water’s Edge, 38 Annie Craig Drive, a 56-storey tower, has just been completed and will be bringing new resale inventory to market in 2025.
2025 Market Commentary by Daiva Dalinda
We are on the cusp of a very dynamic time in real estate due to the significantly changed political and economic environment.
Politically, we have the U.S. potentially imposing inflationary tariffs on Canada.
Also, should the trend towards electing right party leaders continue, then there is a strong likelihood for a new Conservative Prime Minister in Canada who promises to improve a sluggish economy and reduce the country’s high debt levels with economic growth policies.
All this remains to be seen, but it is instilling some caution and uncertainty in the markets in spite of the Bank of Canada rate drop from 5% this time last year to 3.25% today.
Also the inflation rate is currently down to a below target rate of 1.9%
Economically, new mortgage rules coupled with lower interest rates are easing buyers into friendlier markets:
1) 30 year amortizations are available for first time buyers and new home buyers.
2) A ceiling increase from 1 million to 1.5 million for insured mortgages, allows buyers to buy with less than 20% down on more typically priced properties.
3) Eliminating stress testing when switching lenders creates bargaining power for homeowners.
This economic easing together with an expected increase in listing inventory due to 40% of mortgages coming up for renewal this year, will provide buyers with more opportunities.
Bottom line, buyers are seeing a light at the end of the tunnel already witnessed by the increase in sales activity for homes over 3 million by wealthier, less interest rate sensitive buyers. This promises to filter down to buyers of more modestly priced homes.
The latest research at Royal LePage is predicting detached homes in Toronto to increase 6% in 2025.
Condo prices however are still stifled by the over built environment and so are expected to drop a further 1% in 2025.
Of note is the disaster befallen condo sales for predominantly small condo units, that were once the domain of now scarce first time buyers and investors.
On the other hand larger, quality condos in prime locations have been holding their value and are in demand with families and down-sizers, that are emboldened by stronger price expectations for their resale homes.
One thing for certain is that real estate will continue to be a tale of two markets. Those with wealth who can easily buy, and those not likely to do much more than just try to hang onto what they have.
For all these reasons, an intelligent and personalized marketing strategy will allow our buyers and our sellers to navigate the housing market successfully.
You are invited to reach out at any time to discuss your specific needs.
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Palace Place, 1 Palace Pier Court, and Palace Pier, 2045 Lake Shore Boulevard West, in Humber Bay Shores.
