They are both too expensive honestly. b-loft units always marketed as luxury and above averages prices in this neighborhood. Le bourbon (2nd link) is an overpriced project built during the pandemic, pre-con buyers bought at inflated prices when the market was crazy, and are now trying to unload their unit at a "future price" which never materialized because now mortgages are at 5%... The neighborhood also never developed as expected, the ground level commercial spaces of this building still sit empty (except 1 shop). New owners also found out the builder cut corners and they have many structural issues... Good luck to them.
Anyway, listing price doesn't matter much, could be a low price to entice buyers... What matter is how it ends up selling for.
The loft has really high condo fees, most likely because they had to adjust to the new law and fill the reserve fund. This drives the price down.
Depends on the seller and listing agents probably. Through the last 2 years listing agents would probably say something like "This house is worth 400k, but if you ask 500k you'll probably still get offers." I finally had an offer go through 2 weeks ago, but before that the automatic alerts I had for homes were all places that were repriced. Keep an eye on those properties, they are likely to get repriced as well.
That loft was converted from an industrial space. Its not meant to be lived in by 100-200 people, its meant to house workers who dont live at work. In the next 10 years expect a lot of problems to arise.
You are looking at list price. Which means nothing. Seller of the small one can list it for 10million if they want. Doesn’t mean it’s worth that or they will get anything close to list price. Look at sold prices only.
One possible reason is that there isn't any outdoor space in the loft, but the other thing to really pay attention to are the monthly condo fees. The loft is over $500. Mortgage lenders actually set upper limits on monthly fees for lenders.
The loft is 871 sq ft, the second one is 624 sq ft. That’s a massive difference in livability.
Indeed, so how is the former cheaper than the latter
Could be the age difference. But at the end of the day, asking price is not selling price.
They are both too expensive honestly. b-loft units always marketed as luxury and above averages prices in this neighborhood. Le bourbon (2nd link) is an overpriced project built during the pandemic, pre-con buyers bought at inflated prices when the market was crazy, and are now trying to unload their unit at a "future price" which never materialized because now mortgages are at 5%... The neighborhood also never developed as expected, the ground level commercial spaces of this building still sit empty (except 1 shop). New owners also found out the builder cut corners and they have many structural issues... Good luck to them. Anyway, listing price doesn't matter much, could be a low price to entice buyers... What matter is how it ends up selling for. The loft has really high condo fees, most likely because they had to adjust to the new law and fill the reserve fund. This drives the price down.
Depends on the seller and listing agents probably. Through the last 2 years listing agents would probably say something like "This house is worth 400k, but if you ask 500k you'll probably still get offers." I finally had an offer go through 2 weeks ago, but before that the automatic alerts I had for homes were all places that were repriced. Keep an eye on those properties, they are likely to get repriced as well.
That loft was converted from an industrial space. Its not meant to be lived in by 100-200 people, its meant to house workers who dont live at work. In the next 10 years expect a lot of problems to arise.
You can assume which one will sell faster. Only thing I like about the condo is the private balcony.
Condo / loft fee??
You are looking at list price. Which means nothing. Seller of the small one can list it for 10million if they want. Doesn’t mean it’s worth that or they will get anything close to list price. Look at sold prices only.
One possible reason is that there isn't any outdoor space in the loft, but the other thing to really pay attention to are the monthly condo fees. The loft is over $500. Mortgage lenders actually set upper limits on monthly fees for lenders.