Urban Capital has just released the penthouses at River City 2. Contact me now for floor plans and pricing.

The penthouses will take the standard features of River City 2 (which are excellent), and take them up a notch. Features will include

• 10′ ceilings
• Expansive balconies on the main level, AND
• Massive private roof-top terraces on the second level for all units including landscaped and paver areas
• Floor-to-ceiling rolling doors to allow customization of different living areas
• Saucier+Perrotte specially designed ‘floating’ stairs leading up to the terrace level
• Floor to ceiling glass
• Gas range in kitchens
• Gas hook-up, electrical outlet, and water bib on all terraces
• West facing units will feature incredible city skyline views
• Suite sizes range from 1081 sq ft – 1865 sq ft
• Outdoor sizes (balcony+terrace) range from 588 sq ft – 1441 sq ft

These upgraded suites will rival some of the top penthouses in the city, but on price there is no comparison! Penthouse suites at River City 2 are starting from just $575 per square foot! I was shocked (in a good way) when I saw the pricing. This is unheard of value for brand-new pre-construction penthouses with private outdoor spaces.

If you are looking for a condo with a large outdoor terrace, they are always in short supply downtown. If you are looking for something with a LARGE outdoor terrace, somewhere you can have a dinner party for say, 12 of your closest friends, they are nearly impossible to find for under $1M. Prices at River City start at about $659K and go up to about $1.1M. For this reason I am endorsing the penthouses at River City 2 as a great deal.

If a penthouse is not your thing, they also recently released their town homes, starting from $549K and they still have a good selection of suites starting from about $239K.

For more details on the River City 2 please contact me.

In case you missed it, Menkes has confirmed that the penthouse at the Four Seasons in Yorkville has sold to an international buyer. 8000+ square feet for $28M. So what does the sale of the most expensive apartment in Canadian history tell us about the condo market in Toronto? I think it says a few key things:

1. Four Seasons is King. By setting such a massive record that will likely not be surpassed for possibly 10 years or more, The Four Seasons brand is now clearly the number one luxury condo-hotel in Toronto. I often talk about the “Big Four” of Toronto condo-hotels: The Ritz-Carlton, Shangri-La, Trump Tower, and The Four Seasons. The penthouse sale once again solidifies The Four Seasons as the most prestigious brand in this sub-market.
2. Yorkville is King. As much as there are many great streets, intersections, and neighbourhoods in Toronto, this sale reminds us that Yorkville is still #1 in the eyes of the truly elite buyers.
3. Toronto is King. This could not happen in any other city in Canada. Vancouver, for all its high-priced real estate, has (to my knowledge) never seen a condo sale north of $22M. Montreal? Forget about it. The penthouse of the Ritz in Montreal sold for $15M. Toronto is the best market in Canada to invest in real estate and we should be proud.
4. Expect other Dominoes to Fall in 2011. I have a feeling the other condos on the market in the $10M+ range will sell this year. No one likes to be the first to set a new price precedent, but once it is set, similar properties tend to move quickly. Suddenly the penthouse at Aura at 13,000 square feet is looking like a bargain at $17M…
5. No more complaining about $600 per square foot! With this property selling at over $3000 per square foot, Toronto buyers need to see this as a signpost for the future of Toronto. Those who are stuck in the mindset that anything over $600 per square foot is ‘too high’ or irrational may be right, but they need to consider the overall trajectory of the market as well.

Questions or comments? Contact me directly or leave a comment below.

12 Degrees Condos in Queen West has just released their penthouse suites. If you are looking for an exclusive address in a prime downtown location, consider the penthouses at 12 Degrees. Contact me for availability and pricing.

I have been a big fan of this project since it first launched last summer. Over the past year, as dozens of condo towers have launched all over downtown, the uniqueness of this project has only become more pronounced.

The architecture sets this project apart from all the other cookie cutter condos that are popping up in the area. The standard finishes are among the best anywhere. The location in true Queen West puts you right in the middle over everything that’s great about downtown. The rooftop will be possibly the sexiest and most exclusive in Toronto when this building is complete. (The rendering above is of the rooftop pool and cabana area.)

There will only be 4 penthouse suites in this building. All on the 11th floor, all with large terraces, and all offering unobstructed views. Sizes range from just under 1000 sq ft to almost 1600 sq ft. The features and finishes rival that of the Ritz Carlton (same interior designer: Munge Leung) at a fraction of the price combined with the exclusivity that comes with living in a 90-unit building in an established downtown neighbourhood. Finishes include: 11′ ceilings, Wolf and Sub-Zero appliance package, bathrooms drenched in marble, wide plank engineered hardwood throughout, high end kitchen cabinetry and premium Italian granite that, in the developer’s words, has never been seen before in a Toronto condo.

The project also has about 20 units still available including a few street level townhomes. Construction is set to start this summer and occupancy is slated for late 2012.

For more details on 12 Degrees, please contact me.

In chatting with some of the folks behind Victory Condos I was informed that the penthouse suites at Victory will soon be released for the first time. The suites sound like they will be amazing. They will take the already great standard finishes and features of Victory up a notch. For example, 10′ ceilings instead of 9′ and full size appliances instead of ‘condo size’.

Each unit will have it’s own private rooftop terrace above each suite including a glassed in ‘skybox’ which will let natural light down into the unit. This feature will really set these penthouses apart from others downtown and will make the units feel like modern townhomes in the sky. If you are looking for an upscale residence in the King and Spadina neighbourhood, consider the penthouses at Victory.

Victory Condos at King and Spadina by BLVD Developments is over 80% sold. Construction is underway. There are only about 25 units still available. Contact me for more information.

Welcome to your online guide to “The Best Penthouse Suites in Toronto“. In this installment I will be profiling the penthouse suite at The Residences At The Ritz-Carlton.

Author’s note: This blog post was originally published in 2008. Hence, some of this information may be out of date. For the most up-to-date information regarding the best penthouse suites in Toronto, please contact me.

Take one quick look through the Ritz-Carlton’s marketing materials, either on the developer’s website, or in their print materials, and you quickly realize what type of clientele they are trying to attract. Only the best of the best, the most successful, the private jet and private yacht kind of buyer.

Ritz-Carlton to many is synonymous with 5-star hotel luxury living. The brand has been around for over 80 years, so they certainly have the history to back up their reputation. Interesting that they are billing every suite in the building as a ‘penthouse suite’-they are committed to upholding their ultra luxury brand

The true penthouse at the Ritz-Carlton has been sold, reportedly to an international buyer. At the time it was marketed as Toronto’s largest penthouse at just under 11,000 square feet. This has recently been eclipsed by the penthouse at College Park: Aura.  Selling price was not released, but initially it was reported to be priced at $11 million.

Developer: Graywood Developments and Cadillac Fairview
Penthouse: 11000 square feet, 52nd floor. Has been sold.
Sub-Penthouse: Available on the 51st floor. Half the floor, $9.065M for 6005 sq ft. (about $1509 per square foot) Also available are sub-sub-penthouses for $1.5M – $3.8M (1513 sq ft – 3475 sq ft. $990 – $1093 per square foot)
Key Features: 5-star hotel amenities. 2 parking spaces included with sub-penthouses. Miele and sub-zero appliances. 12′ ceilings in the sub-penthouse suites. Connected to the PATH network supposedly is planned which would also mean direct subway access.
Notes: Internationally recognized luxury brand.
Occupancy: 2009
Smallest suite is 1400 sq ft.- Mostly end-users, very few ‘investors/flippers’.
Potential Negatives: 79 cents per square foot maintenance fees. No enclosed parking garages available. Location (Wellington and Simcoe) is close to financial district and theatre district, but similar to Shangri-La, it is located in an area that is very quiet after 6pm.

For more information on the Residences of the Ritz-Carlton, please contact me.

Downloads:

• The “Valencia” Floor plan – 51st floor sub penthouse, 6005 square feet, $9.065M
• Price Sheet for Ritz Carlton including sub-penthouses

The Best Penthouse in Toronto Series:

• College Park Aura Penthouse
• Four Seasons Yorkville West Penthouse
• Shangri-La Penthouse
• 1 Bloor Penthouse

Welcome to your online guide to “The Best Penthouse Suites in Toronto“. In this installment I will be profiling the penthouse suites at Shangri-La.

Author’s note: This blog post was originally published in 2008. Hence, some of this information may be out of date. For the most up-to-date information regarding the best penthouse suites in Toronto, please contact me.

The term “Shangri-La” refers to paradise on earth, and that is exactly what the ultra-luxury hotel/condo development of the same name is trying to create at Adelaide and University in downtown Toronto.

There are two penthouse suite units at Shangri-La and they occupy the 64th and 65th floors of the building. These two-storey penthouses are unique to the ultra-luxury penthouse market in Toronto and wil provide the buyer with something truly spectacular. 6700 square feet of sprawling luxury priced at about $12.5 million.

Construction at Shangri-La is well underway with sales beginning well over a year ago now.   At 65 storeys it will not be the tallest condo in Toronto, but it will likely be in the top 3 along with 1 Bloor and Aura. Below are the details on this unit as well as the “Signature Suites” which are equivalent to lower-penthouses in this project.

Developer Westbank and Peterson Group (lesser known in Toronto, but very active developer in Vancouver including Shangri-La Vancouver)
Penthouse: 2 available. 2-storey units, each one composing one-half of the top-2 floors of the building (floors 64+65). $12.5485M each. 6730 sq ft. North/East/West exposures or South/East/West exposures.
Sub-Penthouse: Called the “Signature Suites”. They are not true sub-penthouses based on their location in the building, but they are the next largest suites in the building, located on the 58th and 60th floors. They are 2-storey units also, priced at $6.4555M or $6.2455M with about 4430 sq ft
Key Features: unique, 2-storey designs with living rooms open to above creating a dramatic 22′ high ceiling with 22′ high windows in the living rooms. Hotel amenities available for residents, Miele and Sub-zero appliances, custom closet organization systems. Kitchens by Boffi. Private, enclosed parking spots available.
Notes -Developer wants the building to be connected to the PATH network and the subway, however, city has not confirmed that this will happen.
-’Shangri-La’ brand is lesser known in North America but is very well respected around the world
-Occupancy: Summer 2011
Potential Negatives: Location (Adelaide + University) not in the ‘centre of the action’, although it is steps to the financial district and a short walk to the entertainment district and Queen Street West. Smallest suites available are 800 sq ft – some investor units in the building, but not many. Penthouse floor is not exclusive-two units on the top floor.

For more information on the Shangri-La Penthouse Suites, please contact me.

Downloads:

• Penthouse Suite “02″ Floor Plan
• Signature Suite example Floor Plan

Links:

• Official Developer’s website
• Official site for the Shangri-La hotel
• Construction update site

The Best Penthouse in Toronto Series:

• College Park Aura Penthouse
• Four Seasons Yorkville West Penthouse
• 1 Bloor Penthouse
• The Residences of the Ritz Carlton Penthouse

Welcome to your online guide to “The Best Penthouse Suites in Toronto“. In this installment I will be profiling the penthouse suite at 1 Bloor.

Author’s note: This blog post was originally published in 2008. Hence, some of this information may be out of date. For the most up-to-date information regarding the best penthouse suites in Toronto, please contact me.

There was so much hype when 1 Bloor launched in November 2007 that it has been hard to separate fact from fiction with this project. One of the most widely accepted rumors about this project was that the penthouse suite was sold to a Hong Kong businessman for $25 million. Despite the fact that several mainstream media outlets have reported it sold, it has not. The penthouse suite at 1 Bloor is still available and is still priced at $25 million.

The truth is they were in fact close to an agreement, but it fell apart in the end because the buyer insisted upon having his own private elevator that no one else could use and that would enter directly into his suite. The developer said it could not be done, the architects could not figure out a way to get it into the plans. But now, the developer is saying that if a new buyer wants this same feature, there is a way it can be done-too late for the original buyer apparently.

The feature about the 1 Bloor Penthouse that has garnered the most attention is the internal infinity pool. Imagine swimming in a pool in your own mansion in the sky, 80 storeys from the ground, and looking out over the skyline of Toronto.

Developer:: Bazi’s International (Based in Kazahkstan, No completed projects in Toronto, Currently also developing/selling Crystal Blu – Yonge and Bloor, Emerald Park – Yonge and Sheppard, coming soon: Exhibit Definitive Residences – Bloor and Avenue)
Penthouse: $25M for 7530 sq ft. This is the entire 80th floor of the building. $3320 per square foot.
Sub-Penthouses: 4 floor plans available ranging from $5.7M – $9.5M and 2485 – 3810 sq ft respectively. $2300-$2500 per square foot
Key Features: Infinity pool (in the penthouse suite only), 10′ or 12′ ceilings, multiple outdoor terraces (penthouse), Miele and Sub-Zero appliances
Notes: -Penthouse is totally customizable, units on the sub-penthouse levels can be combined to create a larger unit if desired
-The hotel that is going to be in the base of the tower is expected to be announced this fall. Rumor is it will be a major French chain.
-All the hotel amenities are available to residents of the penthouses
-No parking spots included ($75,000 each), but separate parking level exclusively designated for Penthouse suites
-Maintenance fees 49 cents per square foot, hydro extra
-Occupancy November 28, 2011
Potential Negatives: Developer has no track record in Toronto, Units as small as 540 sq ft in the building, very high percentage of investors/speculators purchased units in the building (non end-users)

For more information on the 1 Bloor Penthouse suites, please contact me.

Downloads:

• 1 Bloor Penthouse Floor Plan
• 1 Bloor Sub-Penthouse Floor Plans
• 1 Bloor Penthouse Preview Price List

The Best Penthouse in Toronto Series:

• College Park Aura Penthouse
• Four Seasons Yorkville West Penthouse
• Shangri-La Penthouse
• The Residences of the Ritz Carlton Penthouse

Welcome to your online guide to “The Best Penthouse Suites in Toronto“. In this installment I will be profiling the west penthouse suite at Four Seasons Private Residences in Yorkville.

Author’s note: This blog post was originally published in 2008. Hence, some of this information may be out of date. For the most up-to-date information regarding the best penthouse suites in Toronto, please contact me.

The Four Seasons Private Residences in Yorkville was launched by Menkes in early 2007 at the corner of Bay Street and Yorkville Avenue in the heart of the Bloor-Yorkville neighbourhood.  It was billed right from the start as the premier luxury condo project in the city. While an argument can be made that there are plenty of other equally luxurious and prestigious projects out there, one thing is certain: the West Penthouse at the Four Seasons is the most expensive condominium in Toronto with a price tag for the entire 55th floor at $30 million.

Back in 2007, there was a rumor circulating that the penthouse would be priced at about $16 million, however, the developer never said this would be the case.  When the project launched there wasn’t even any schematic drawings for the Penthouse or anything – it didn’t technically exist until very recently.

Here are the specifications on the West Penthouse at the Four Seasons – 9,000 square feet and the entire 55th floor of the West Tower.

Developer: Menkes (Very good developer, many projects completed and underway in Toronto)
Penthouse: The penthouses and sub-penthouses for the Four Seasons have just been officially released for the first time last month (September 2008). The project consists of two towers. One 55-storey with the new Four Seasons hotel at its base, and one 26-storey that will be strictly residential.
Key Features: All the 5-star hotel amenities of the four seasons are at your disposal. Ultimate hotel life style. Yorkville location. Prestige brand. Miele and Sub-Zero appliances. Penthouse even includes a 680 sq ft suite in the east tower for your housekeeper or other personal staff. Menkes is claiming that this is the only condo in Canada that comes with a staff residence.
Notes:
-14 different kitchens to choose from.
-Smallest suites in the building are around 1100 sq ft.
Occupancy: late 2011
Potential Negatives: No precedent for the premium price in Toronto. $3333 per square foot is more than double the price of other comparable offerings such as the penthouse at College Park offered at about $1440 per square foot.

To receive more information on the Four Seasons Toronto Penthouse, including a full colour brochure, please contact me.

Downloads:

• Four Seasons West Penthouse floorplan.

Links:

• Interview with the Alan Menkes and Brian Gluckstein – president of Menkes and the penthouse designer respectively about the West Penthouse.
• Developer’s official site
• Globe and Mail article on the West Penthouse

The Best Penthouse in Toronto Series:

• College Park Aura Penthouse
• Shangri-La Penthouse
• The Residences of the Ritz Carlton Penthouse
• 1 Bloor Penthouse

Welcome to your online guide to “The Best Penthouse Suites in Toronto“. In this installment I will be profiling the penthouse suites at College Park III: Aura.

Author’s note: This blog post was originally published in 2008. Hence, some of this information may be out of date. For the most up-to-date information regarding the best penthouse suites in Toronto, please contact me.

College Park Aura was one of the hottest new condominium launches ever in Toronto. The 75-storey building sold out so quickly when it launched back in March of 2008 that Canderel Stoneridge could probably have sold two of these mega-towers if it had the land to do so.

Now this month finally comes the release of the penthouse suites. At Aura, the ‘lower’ penthouses will occupy the 72-74 floors, with 4 units per floor, and the entire 75th floor will be one gigantic unit-probably the largest penthouse in the city at 12,000 square feet.

Developer: Canderel Stoneridge. One of the most respected builders in the city. Already built and completed Phase 1 and Phase 2 of College Park and the results are very good. Phase 3 will take it up a notch and the Penthouses are going to be yet another level still.
Penthouse Pricing: $17.3M for 12,000 sq ft. Entire 75th floor. Approximately $1440 per square foot
Sub-Penthouse Pricing: $3.36M for 3055 sq ft (largest sub-penthouse suite), 4 suites per floor (2200-3000 sq ft), floors 72-74. Starting prices per square foot for the sub-penthouses range from $900-1100 per square foot.
Key Features: Individual direct elevator access to Penthouse, 12′ ceilings, Miele and Sub-zero appliances
Notes: The penthouse suites at College Park 1&2 are available for private tours to prospective buyers of the Aura penthouses-contact me for more information.
-6 parking spots are included in the purchase price of the Penthouse
-The building will be connected to the subway and the PATH network via a future expansion from Dundas to Gerrard
-There are dozens of shops and restaurants located in the College Park complex including a 24 Hour Dominion grocery store
-Occupancy: Spring 2012

Potential Negatives: Many small units in the building-as small as 532 sq ft, high % of investors who purchased in the building. Also, it could be argued that the location of the building is not in a prime neighbourhood.

Latest News: There is the possibility that 10 more floors will be added to Aura, bringing the total up to 85 storeys and if this happens, the penthouse suites would all be increased in height by 10 levels at no extra charge to the purchasers.

Links & Downloads:

• Click here to download the College Park 3: Aura penthouse floor plans and features.
• To see the floor plans for the sub-penthouses, visit the developer’s official website.

For more information, or if you would like to arrange for a private tour of the already completed penthouse suites at College Park Phases 1&2, please contact me.

The Best Penthouse in Toronto Series:

• Four Seasons Yorkville Penthouse
• Shangri-La Penthouse
• The Residences of the Ritz Carlton Penthouse
• 1 Bloor Penthouse

Author’s note: This blog post series was originally published in 2008. Hence, some of this information may be out of date. For the most up-to-date information regarding the best penthouse suites in Toronto, please contact me.

The Toronto Real Estate market has been booming over the past several years. With the boom times we have started to see a new class of product enter the consumer marketplace – ultra luxury condos.

Condo living is still a relatively new idea to Torontonians, and up until very recently, condos were seen as something for young buyers, first timers, or people on a tight budget who can’t afford to buy a freehold house. Not any more. Condo living is now seen as a lifestyle of choice and the downtown core has exploded with some very exciting new condos catering to the very wealthy.

This is why I am very excited to introduce a new series of feature posts entitled “The Best Penthouse in Toronto“. The goal is for this to be the definitive online guide to the most prestigious condominiums in Canada’s biggest and most cosmopolitan city: Toronto.

Over the next several days I will be profiling some of Toronto’s most expensive condominium residences. These condos are built from top to bottom with the desires of the discerning clientele in mind. This guide will help determine what is truly “The Best Penthouse in Toronto“!.

Check back to my site in the coming days as I reveal details for the penthouse suites at the following buildings downtown:

• College Park 3: Aura – Online now
• 1 Bloor Penthouse – Online now
• The Four Seasons Penthouse in Yorkville – Online now
• Shangri-La Penthouse – Online now
• The Residences of the Ritz Carlton – Online now
• And Others (watch for updates and feel free to contact me with suggestions)