Trump Tower: Toronto Epic Fail, Totally

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]

• Trump Hotel Auction Is A Complete Disaster – Only 1 Bid & $1M Below Asking Price

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.

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 !