Six50 King Street West launched last night and sold approx. 140 units of the 200+ available, during Brokers event.
That’s about two thirds of the available inventory, before the site is opened to the public on the weekend.
Peter Freed’s King West buildings seem to be popular and selling quickly. The first two completed, 66 Portland and 20 Stewart, have made nice profits for the original owners and now commanding prices in the $450+ PSF, penthouses at $500+.
King West looks a lot better by the day, from a run-down neighboorhood it grew in just a few short years into the new trendy area of Toronto’s downtown.
My prediction is that King West will keep growing and we’ll see even more older buildings being replaced with new residential structures, prices will at $500 PSF+ within 6-12 months, and hopefully we’ll see a retail-level cleanup, pushing out the low-end and bringing in some modern updated retail to serve the needs of the new swanky residents.
For more information about Six50 King contact:
Yossi Kaplan, MBA