Trump Tower: Toronto Epic Fail, Totally

‘Donald Trump Caterpillar’: Flannel Moth Larva Looks Like Real Estate Mogul’s Hair

Trump Tower fail: the perceived value of a luxury suite in the building is now below $600,000

Schadenfreude-prone locals gleeful over the Trump Tower’s persistent problems got yet more fodder over recently. The owner of a 950-square-foot unit in the not-so-minimalist tower put it up for auction after noticing that 11 other Trump units have been languishing on MLS for months. The condo received a single bid of $550,000—well below the seller’s already-discounted reserve price, and a mere fraction of the $1.6 million that developer Talon International is asking for a similar suite.

Ritchies Auctioneers told the Toronto Star that several potential buyers missed the sale after Trump executives balked at holding it on-site, forcing a last-minute venue change. Of course, we’re sure an investor mutiny, falling glass and general dislike of the building’s over-coiffed namesake had nothing to do with the no-shows. [Toronto Star]

Didn’t you get the message: China Condo Flippers are dangerous !

Never mind. You can now look at Shangri-La … same thing except it’s not Trump.

10% of SHANGRI-LA RESIDENCES FOR SALE

Shangri-La Residences at 180 University Avenue.
There are currently 36 units of the 353 total units for sale in the Shangri-La
Or 10% of the condo units!
That’s up by 5 units even from just 6 days ago when there were only 31 for sale!!!!!
The 36 units range in price from $710,000 to $4,395,600.
So, what gives?  Is it the falling glass?
And last week wasn’t the first time glass has fallen from the building, the Shangri-La.
The falling glass is probably a little disconcerting for the residences, but it isn’t the first building in Toronto to have this happen.
So, is this just a coincidence?
Is it a sign of the condo doomsday that people keep talking about?
It’s probably just coincidence (though the listing of those 5 new units since last week is kind of interesting).
Whatever the reason….
Perhaps it’s time to stop building with this glass that can’t handle the weather extremes in Toronto !

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