Reading the news, you’d think that everyone is packing up their bags and moving to the suburbs because of the pandemic. Sales of luxury condos in the core have slowed. Remember, the pre-pandemic market was red hot.
Not so fast, though. As people adjust more to a new world, pandemic and post-pandemic, will what drives people to downtown living emerge to the forefront again? This executive suite in the St. Regis Residences is a perfect illustration of the reasons people buy luxury downtown.
Related: Buying in the suburbs: Passing trend or here to stay?
After all, what is true luxury? Brokers and developers downtown will tell you buyers want the lifestyle options the downtown core offers. They want walkability and connectivity.
Why do people buy luxury downtown?
And buyers want full-featured, spacious home layouts in a condo, like they had in their Rosedale, Forest Hill and Lawrence Park homes. Suite layouts, aesthetics, architecture, location, and pricing – these are the selling features. Another big one is new-age, next-generation elevator technology. Now add health and hygiene to that list.
The St. Regis is one of the most luxurious condo/hotel developments in the city. Elegant, exquisite, with bespoke luxury offerings, residents and guests soar over one of the city’s most prominent intersections – Bay & Adelaide.
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Signature rituals are an integral part of the St. Regis brand and experience. That is highlighted by the observance of the Bloody Mary Ritual, the Evening Ritual, and the Afternoon Tea Ritual.
This executive suite in the St. Regis Residences is up for sale at $3,198,880.
“It’s a hotel residence, so you have access to VIP facilities,” says Tammy Masoumi, a salesperson with Sotheby’s International Realty Canada. “The location as well makes it unique, right downtown, walking distance to all the restaurants, the Financial District. In term of luxury, you have access to that hotel lifestyle.”
“Ritz Carlton is selling now for $1,800 per square foot. This building is selling for $1,200 per square foot, average.”
Masoumi adds international buyers in particular are contacting her because when shopping for luxury condos in the city, they recognize an opportunity.
Just the facts
- Executive suite in the St. Regis Residences, luxury condos
- 311 Bay St., 5003
- Close to financial district, public transit, restaurants, underground PATH, theatres, shops
- 2250-2499 square feet
- Two bedrooms, three washrooms, parking
- Building offers hotel amenities, including saltwater pool, spa, health & wellness centre, yoga, fitness centre, business centre, fine dining, room service, valet parking, 24 hour concierge
- For sale at $3,198,880
- Also available for rent at $9,900/month
Contact Tammy Masoumi at 416-817-3629 for more information.
I am a 50-something Torontonian who loves everything about my city. It’s been my home, my playground, for my entire life. I went to school here. I met my wife here. I own real estate here. I love writing about the transformation of my city on the world stage, which hasn’t been anything short of dramatic. That continues on, as I write this. I write on the real estate scene. I write on travel and fashion. I like following the world of luxury watches.
But I love writing about cars – check that, luxury cars, a level of superior, engineering sophistication, high performance and style, that transports you not just from one destination to another but also out of whatever you are going through on a particular day, whatever mood you are in, all to another head space. It’s complete and total exhilaration, head to toe.
Check out my stories, and email me direct at mkeast@regardingluxury.com
