The Modern on Richmond started selling units back in November 2007. I remember this project launch clearly because it happened right at the same time as the original 1 Bloor project and it seemed everyone in Toronto was talking about pre-construction condos at the time. Oh wait, not much has changed in the last 4+ years!
The Modern is nearing completion now and owners are starting to get occupancy of their suites which means that many units are now coming up for sale as assignments. For investors who bought at The Modern circa 2007-2010, values have gone up significantly and now is a great time to sell and cash in on the gains. If you own a unit at The Modern and you are interested in selling by assignment, please contact me to discuss.
If you are a buyer and looking for a brand new condo in a great downtown location that offers excellent value, consider The Modern. With average prices in most new downtown buildings hovering around $600 per square foot and up, many suites at The Modern can be had for around $500 per square foot – including parking! For example, at the moment we have a 920 square foot suite available for $449,900 including parking and locker, which works out to $489 per square foot!
The resale and pre-construction market are red hot right now, and getting what you want at a good price can be challenging if you are a buyer. The assignment market represents a sort of ‘third way’ of getting into the condo market without having to face as much competition. But it’s important to understand the details of how assignment sales work. Not all agents are experienced or trained in this specialty area! Contact me for more details or check out some of the articles on this website that I have written about assignment sales.
The lobby is going to be really nice in this building with a dropped floor and see-through fire place.
Have questions?
Want to know more about The Modern on Richmond: Assignments Available? Send me a message and I'll get back to you within 24 hours.