Fly Condos Set to Relaunch
Fly Condos launched about 7 months ago and sales were decent at first but then quickly dropped off as the market changed in October/November quite dramatically.
Like many developers, Empire is not just sitting around waiting for buyers to walk through the door. They are getting aggressive with pricing and incentives. Recently they launched an advertising campaign announcing suites from $159,900. This number has gotten them a lot of attention as investors and first time buyers alike are salivating at the prospect of buying a condo at Front and Spadina for under $200K.
They have redesigned the building and split up many larger suites into smaller suites. Originally the price per square foot was averaging around mid $500s. Now, prices will be averaging about $465 per square foot. This is represents a significant drop in prices and Empire is banking on investors and first time buyers by making 60% of remaining suites priced under $300K.
This just might be the perfect opportunity for buyers who have been sitting on the sidelines to enter the market.
Check back here later this week as by then I should have all the new prices and floor plans for an upcoming broker’s VIP sales event. Register with me if you want to be first to get the info.