After all the media hype about real estate prices in Vancouver lately, news reports are buzzing with news of the most expensive condo in Canada, and it is not in Vancouver. A penthouse suite in Toronto has just set the record for the most expensive condo in Canada, selling for a whopping $28 million. Similar to all the news lately about wealthy foreign investors coming to Vancouver to snap up the best property, it wasn’t a Canadian who purchased the Condo, it was an international buyer that made the record-breaking buy. He actually got a steal as this condo was on the market (off the plans) for $30 million back in 2008!
So what does $28 million buy you? The luxury top-floor condo (on the 55th floor) will be more than 9,000 square feet with 12-foot ceilings and have a staff residence (located in a connected building next door). This exclusive condo, in what’s dubbed Yorkville Residences, will have panoramic views of Toronto’s skyline, a floor-to-ceiling glass galleria, a 2,500-square-foot master suite, stone fireplace, theatre, wine cellar for 800 bottles and TVs that hide behind vanity mirrors.Building architecture was designed by world-famous architect Claude Cormier. Amenities include an indoor pool, spa services, fitness centre, concierge staff, and bar/lounge.
This multi-million dollar building is now under construction as part of the new Four Seasons hotel and Residences. The first 20 floors will be for the Four Seasons hotel and the condos will be above. The Four Season Residences are almost sold out with 85 per cent already sold. The first occupants to move in to these exclusive condos next summer. For those looking to buy a Yorkville Residence condo , they start at $1.9 million for a 1,000-square-foot condo.
See the full presentation website at YorkVille Residences.
Back to Greater Vancouver, you can buy a Burnaby condo for a lot less than $28 million! In fact you can probably buy about 24 Burnaby condos for that price (although smaller)! Just do a search using my property search page and see what condos for sale in Burnaby or the Greater Vancouver area. $1,500,800 is peanuts in comparison, and that will buy you a 3 bedroom, 3 bathroom condo in the Jewel II building at Metrotown. This building is expected to be complete by June 2012 an is 1,470 sq. ft. You will have lots left out of your $28 million dollar allowance to buy Ferraris, private jets, race horses and anything else you might need. Contact us at Condo Score for more information on any condos you are interested in.