Category Archives: Palace Place Sales

Palace Place

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

Highlights:

• Luke Dalinda lists Suite 4001 for $2.15M!
  
• Critical information for landlords at Palace Place!
  

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The 2015 average price per square foot for Palace Place had been $433 per square foot. The highest prices that have been achieved to date are $516 per square foot and $537 per square foot.

Palace Place has long been undervalued. To me, this is unacceptable. To combat this, I have just listed Suite 4001 for $2,150,000. This represents only $758 per square foot for one of the best suites in the building and one of the best views in Toronto. It also addresses the magnificent renovations that have been done throughout this suite.

When local shoebox condominiums are being sold for up to $700 to $1,000 per square foot, I trust you will begin to appreciate the frustration.

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!

I am going to go gangbusters to try to set this new record, and I am more than qualified to do it. In 2012, I had set our historic record price of $515 per square foot when the building had been selling at that time for $371 per square foot. We have since seen our prices rise steadily, but they are still far from where they should be. I have been setting record prices at Palace Place since my first listing in 1997.

Palace Place: LANDLORDS MUST READ!

Landlords, did you know that because of the year Palace Place was completed, Palace Place qualifies for an exemption to the Residential Tenancies Act?

What this means is that Palace Place is EXEMPT from the guideline governing yearly rent increases.

So, while other buildings must follow this year’s guideline of 2% for 2016, Palace Place landlords can increase their rent by whatever amount they choose, provided that they follow all other requirements as set out in the Act.

If you would like more information, please contact me!

As the longest serving realtor at Palace Place and a fellow owner, I am highly motivated to achieve record prices. My experience and guidance will position your suite for top dollar. My marketing will offer you better exposure and better results. Please give me a call.

TESTIMONIAL

March 2, 2016

Dear Luke,

You have represented our last two real estate transactions.
In both cases, the results passed the expectations. Both times we got new record high price for our unit. Everything happened quickly, without pain and stress. We are impressed with your professionalism and communication throughout the whole process.
We have complete confidence in you. It was a great pleasure working with you.
Thank you again!

All the best,
Alina and Richard Mielnik

Palace Place

Palace Place

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

Highlights:

• Demand for Palace Place heats up, but be careful what you list for!
• Palace Place is getting the highest rent prices in Humber Bay Shores!
  

CLICK HERE TO DOWNLOAD

CLICK HERE TO DOWNLOAD PDF VERSION

Where is the market?
To date in 2016, there had been 372 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 140 sales of condominium units that had been sold for above the $450,000 price point. Of that amount, there had only been 41 sales of condominium units that had been sold for between $500,000 and $600,000. Of those, only 3 sales were from Palace Place, 4 sales were from Palace Pier, 2 sales were from Newport Beach, and 1 sale was from Ocean Club.

Finally, since January 2016, there had only been 43 sales of condominium units that had been sold for above $700,000. Of those, 4 sales were from Palace Place, 4 sales were from Palace Pier, 1 sale was from Newport Beach, and 3 sales were from Ocean Club.

Palace Place

Palace Place had continued to experience low inventory, which had resulted in continued bidding wars for several suites. Total sales had decreased from 15 sales in the first eight months of 2015 to 13 sales in the first eight months of 2016.

The record sales during this time were my sales of Suite 2906 for $930,000, Suite 2910 for $547,000, and Suite 3102 for $585,000.

There is a lot of demand for Palace Place right now, so if you would like to set the next record price, please give me a call.

Use a Realtor that knows and cares!

Unfortunately, we are still seeing owners list their suites without any proper education to the market value. Recently, a 1,388 square foot suite was listed for $459,000. The realtor had advertised the square footage incorrectly as 1,279 square feet. Worse, the last sale was $565,000 and current listings were asking $689,000. The property was listed on a summer long-weekend before the market could take note, as multiple offers would have driven the price to its true value.

I see costly mistakes such as these far too often.

As the longest serving realtor at Palace Place and a fellow owner, I am highly motivated to achieve record prices. My experience and guidance will position your suite for top dollar. My marketing will offer you better exposure and better results.

TESTIMONIAL

October 7, 2015

Dear Luke:

Jose and I would like to thank you for all your work on selling our unit. In several occasions we bought and sold properties dealing with different real estate professionals and we have never experienced such dedication to marketing and presenting a unit. After the sell was agreed, all the paper work was done impeccable and incredibly fast.
Your advise and marketing techniques are world class. Thanks again Luke, we will recommend you to anyone that needs an excellent realtor.

All the best,
Malena and Jose Paradela

Palace Place