Giraffe Condos: Building Redesigned and Prices Lowered
Giraffe condos launched with significant fanfare and acclaim almost exactly 1 year ago. It was about one month later that the real estate market in Toronto all but collapsed. Sales at Giraffe were less than spectacular and like many Toronto developments, they had to react to what the market was telling them.
I’m pleased to announce that Giraffe has significantly lowered their prices across the board, introduced new suites, and kept nearly all the distinctives of the project in place that made it so appealing in the first place.
Prices are now starting as low as $360 per square foot. Prices have essentially been reduced as much as $50-60K for some units. 565 sq ft 1 bedrooms from $212,000, 612 sq ft 1+dens from $224,000, and 833 sq ft 2 bedrooms from just $302,000.
The major changes to the building are these:
- Eliminated the roof-top garden/patio area resulting in significant construction and maintenance savings
- Ceiling heights on lower half of building reduced to 8′ instead of 9′
- Depth of balconies reduced from 6′ to 5′ (but will still have gas lines on them)
Deposit structure is 15% in 180 days + 5% at occupancy (standard). Parking spots are $28K (very reasonable). Maintenance fees are $0.45/sq ft.
Giraffe is a LEED designed building by Teeple Architects.
All these changes have come about with little to no advertising on the part of the developer. Despite this, suites are selling fast with over 30 units sold in the past few weeks. Don’t wait for the mainstream media marketing hype (radio ads, newspaper ads etc) to tell you this is a great opportunity! This project is a great investment NOW. If you are thinking about buying at Giraffe, contact me today.
