In the fourth quarter 2013, 53 transactions above $1 million, totaling $286 million, occurred in the Greater Toronto Area. When compared with the total dollar volume for the third quarter, this represents a decrease of 26 per cent. However, a comparison with data from the third quarter of 2012 shows an increase of 50 per cent.
This notable transaction was purchased by a private Canadian investor for a total consideration of $9 million. The apartment contains 82 building units, representing a price per unit of $109,756. An estimated $500,000 in capital expenditures was required at the time of sale, adjusting the total sale price to $9.5 million and unit prices to $115,854.
- Address: 32 & 34 Brookwell Dr., North York, Ont.
- Date of Sale: Oct. 22, 2013
- Sale Price: $9 million
- Capitalization Rate: 5.5 per cent
- Total number of units: 82
- Price per unit: $109,756
This “new and notable transaction” was provided by Richard Vilner, research manager at RealNet Canada Inc., a leading Canadian real estate information services company that powers the decisions of firms involved in approximately 75 per cent of the market activity. He can be reached at [email protected].
