Co-founder of TalkCondo, Red Bricks and Red Bricks OS. Bogey golfer. Once shot a 73 on TrackMan.
Joined March 2015
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Red Bricks OS
White labeled websites where Pre Con and Resale finally live together
Check out a resale condo listing and and instantly see the floor plan. It’s kinda wild
demo.rbos.app
Starting today, the legendary TalkCondo Data is now available directly through an API.
Easily access the best pre-construction data, listings, floor plans, pdf documents and more - all through a simple API.
redbricksdata.com
CANCELLED
The Clove Condos, the first of a huge master plan redevelopment at Cloverdale Mall is cancelled
Originally launched October 2024 at $1096/ft
Achieved only 10% sales
Another 600 units that won't hit the market - this one originally scheduled to complete in 2028
Another project cancelled. This time Pangea by Times Group.
Launched in September 2024 at $1,135/foot in Markham. Only sold 30 / 811 units.
This chart tracks the number of new condo launches per year.
Just 3 high rise launches this year in a market that traditionally sees +/- 100 launches.
More and more of those 2023 launches started to turn to cancellations (green bar)
⬇️ number of new launches
⬆️ cancellations
Getting word of another project cancellation.
This time the Leaside by Emblem. Originally launched in June 2023 at $1,520/ft
241 units across two buildings.
Roy Bhandari retweeted
Without Investors, there is no High-Rise New Condominium Market!
On TUC 83, @roybhandari of @TalkCondo says pre-con investors were effectively financing new condo projects.
#ToRE #Development #Toronto #GTA #DoesRoyLikeHashtags
patreon.com/posts/pre-constr…
Roy Bhandari retweeted
Who are Toronto's condo investors? I open the black box on Episode 83 of the Toronto Under Construction podcast with @roybhandari & @BrianPersaud
Foreigners, Assignments & Everything Pre-Con!
#ToRE #HighRise 🏗️🌆
Sponsored by BCGi Executive Search
podcasts.apple.com/ca/podcas…
Today we’re rolling out the PRO Map. A cheat code for pre-con research.
-Quickly filter to find the exact projects you’re looking for
-Customize to see the exact data you need
-Download or share your reports
It’s the most powerful way to easily research pre-con data
Top 10 Most Viewed Projects on TalkCondo in November.
Q Tower consistently near the top and a clear #1
Freed Blue Mountain and Kipling Station Condos rising quickly.
55C, Bread Company recently taking occupancy so seeing spikes there
A couple others dropping down
With the increase in cancellations, I took a look at the average prices for launches since 2023 (when the market started to soften)
Ranging from $975/ft in Milton to over $1700/ft in Toronto
This is the current state of the pre-construction market for new launches
The Riv Condos Cancelled. Another 388 units in Toronto taken off the market.
Incentives earlier this year dropped the prices around 5% but still not enough to get the required pre-sales.
We tracked 31 high rise launches in 2024 with an average PSF of $1,210 in this geographic area.
The 5 highest were:
Freed Hotel & Res - $2,306/ft
Freed Blue Mountain - $1,866/ft
101 Spadina - $1,792/ft
The Aristocrat - $1,720/ft
The Rhodes - $1,631/ft
Pre-Construction Condo in Scarborough cancelled.
Originally launched in May at around $1100/ft and prices started from $399k.
