Downtown/Urban Condo - Advise for 1st timers

[DoubleF]

Originally Posted by MrCallahan

I've always been curious about this building. I used to rent in there when I was in college (pre boom, and construction issues), and thought it would have been a great place to buy for an investment. It's Downtown, huge square footage compared to modern condos. It's a little dark and dingy in there, but updating your suite could make it more attractive and appealing to downtown dwellers.

Has anyone had a look at their financials lately? have they got their crap together since the whole parkade incident?

No idea about the financials, but there are listings showing condo fees around $400. Maybe it was a special assessment? However, I also read an article saying the condo board is suing the contractors and engineering firms for the repair costs.

[darklord700]

$400 condo fee is pretty common these days. Even new built condo fees will be in this range. Many developer first low ball condo fees to attract sales but $400 or so is the norm now.

[DoubleF]

Originally Posted by darklord700

$400 condo fee is pretty common these days. Even new built condo fees will be in this range. Many developer first low ball condo fees to attract sales but $400 or so is the norm now.

I think the question was due to RMC recently going through multi-million dollar repairs and the other poster was wondering if it was reflected in the fees.

But yeah, for sure. $400 the norm sounds about right.