Posted by: Daryl & Wendy Ashby | June 30, 2011

Did Someone Say Real Estate Prices had Tapped Out ?

The May 31 topping-off ceremony at Four Seasons Hotel and Private Residences Toronto also celebrated the sale of the most expensive condominium sold in Canadian history.

The $28-million penthouse was purchased by an international buyer. The penthouse occupies the top floor of the 55-storey West Residence building and encompasses 9,038 sq. ft. of living space.

The suite, with panoramic views of Toronto’s towering skyline, features 12-foot ceilings, a floor-to-ceiling glass galleria and four expansive corner terraces.

Included in the price is a staff residence in the adjacent 26-storey East Residence building. The staff residence provides the owners with the convenience of separate, private quarters for household staff located on-site.

Located at the northeast corner of Bay Street and Yorkville Avenue, the mixed-use development features a hotel and 210 private residences in two 55- and 26-storey towers. The development is 85 per cent sold, with a varied selection of suites in each tower available for purchase.

Designed by architectsAlliance, the 55-storey West Residence tower is comprised of a 253-room Four Seasons Hotel on the first 20 floors, and 100 private residences above. The 26-storey East Residence tower has 110 condo units and is connected to its sister building by an elevated pedestrian bridge. Both towers share a courtyard designed by Claude Cormier Landscape Architects.

The suite designs and finishes have been created by Brian Gluckstein Design Planning. They range in size from 1,000 to 9,000 sq. ft. and start at $1.9 million. Construction is well underway with first occupancies and the hotel opening scheduled for summer 2012.

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