Palace Place, 1 Palace Pier Court, Suite 3501 – Just Sold for $2,650,000 (Buyer and Seller Representative)
In a world dominated by media doom and gloom over the state of the condo market, Luke Dalinda continues to demonstrate that he has the contacts, market insight, and experience to get the deal done. So, when condos take longer to sell, Luke Dalinda will not sit idle like most. Instead, he will go out and find the buyers himself. This is why he continues to be the #1 Top Selling Realtor at Palace Place and in Humber Bay Shores.
Call, text, or email me today to learn exactly what I bring to the table to help you to achieve the best price possible.
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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 second consecutive policy rate drop to 4.5%.
Condo buyers, who have remained on the sidelines for all of 2024, should take great comfort from this announcement, as it cements the path to lower rates.
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:
5 year fixed at 4.69%
The next scheduled date for announcing the overnight rate target is September 4, 2024.
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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 3501 – $2,999,000
Modern living and classical elegance captivatingly merged without compromise.
Suite 3501 is a newly renovated, lavish, and palatial condominium residence, with approximately 2,836 square feet of luxury living space, 3-bedrooms, and the most enchanting views of the lake, the city skyline, and High Park. This spectacular 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 timeless appeal.
Contact Luke Dalinda now for your exclusive opportunity to tour this masterpiece!
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Palace Place, 1 Palace Pier Court, and Palace Pier, 2045 Lake Shore Boulevard West, in Humber Bay Shores.
For almost 27-years, I have compared Palace Place to Mercedes-Benz. Mercedes-Benz had invented the automobile, but what makes their cars so special is the thought, care, and safety that they put into their vehicles. These are the same tenets that Bramalea had put into Palace Place as a condo. In fact, the construction of Palace Place had garnered headlines from around the world. So, when I had learned that Mercedes-Benz was building a condo development consisting of a 67-storey tower and a 65-storey tower in Miami, I had become instantly envious of the project.
That was until I had learned how they were planning to build the project.
While the foundation of Palace Place had been built using extra-deep shaft caissons, these new Mercedes-Benz towers are being built using augercast piles.
A caisson foundation is a foundation system used to support tall buildings by anchoring them to solid bedrock. It consists of a prefabricated cylinder that is drilled into the ground to bedrock where steel beams and rebar are inserted through the tubes and into the rock to pin the caisson in place. The tube is then filled with concrete and capped to support the major columns of the building.
Construction of the Palace Place foundation, extra-deep shaft caissons (C) Luke Dalinda
Caissons are typically used when shallower foundations, like strip footings, cannot be constructed safely. Caisson foundations offer help to resist the tipping effect of winds on the building and to control movement in an earthquake. The world’s largest skyscrapers employ caisson foundations. Caisson foundations offer the greatest stability for large structures, especially at great depths.
Augercast piles are constructed using a continuous flight hollow stem auger that is powered by a drill motor that drills to the desired depth. Then, as the drill is slowly removed, concrete is injected into the cylindrical. Once this is done, pre-assembled rebar cages are lowered into the pile.
While an augercast pile foundation is certainly a capable, recognized foundation solution, it is not the best solution, as it has disadvantages, and it is not a method that has been used often for the world’s skyscrapers.
Among the most significant drawbacks of augercast piles is that the construction method does not allow inspection of the finished, installed product. Other disadvantages include that the connection to bedrock is not as robust as it is in the caisson foundation, contraction and bulging can occur in weak soil zones, and underground water can also affect the integrity of the augercast piles.
The most significant advantage of augercast piles is cost savings, which is the biggest driver of decision-making in all new condo construction today.
Pile foundations come with some degree of uncertainty. Another well-known building that sits atop a pile foundation is Millennium Tower in San Francisco. This condominium residence has sunk 28-inches since 2016 when engineers had predicted 4-6-inches over its lifetime. In this case, the subsurface of old bay mud had allowed the settling to occur.
The foundation is the most important aspect of any construction. You only get one chance to do it right. This is why buyers must realize that newer is not better when it comes to condominium construction because today’s developers sacrifice quality for cost.
Completed in 1993, at a record $200-million, Palace Place was built by Bramalea Limited, Canada’s largest builder at the time. Palace Place was built to set a standard and example for condominiums in Canada.
So, it can now be said that Palace Place has been built better than a Mercedes.
For more about Palace Place, order Luke Dalinda’s book.
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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 3302 – Just Sold for $1,020,000 (Represented Seller)
In these times of market uncertainty, it takes experience to get the deal done.
Luke Dalinda has over 27-years of experience selling at Palace Place. Let him be your guide.
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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 3608 – $4,250
A very rare opportunity for a discerning, qualified individual seeking space, sophistication, and refinement. Suite 3608 is a just renovated, awe-inspiring condominium residence, with 1,201 square feet of luxury living space, 2-bedrooms, and stunning helicopter views of Humber Bay Shores. This spectacular residence has been completely renovated using the finest materials, refined finishes, one-of-a-kind details, and quality craftsmanship that have been beautifully combined to stir all the senses.
Contact Luke Dalinda now for your exclusive opportunity to tour this masterpiece!
Be sure that you SUBSCRIBE to this blog to be the first to know of new listingseven before they hit MLS! Stay tuned. The Subscribe link is to the left of this post.
Palace Place, 1 Palace Pier Court, and Palace Pier, 2045 Lake Shore Boulevard West, in Humber Bay Shores.
