Sam Mizrahi: despite pandemic demand still strong for central Toronto luxury real estate

Toronto Luxury real estate

While it may seem that the pandemic forced a pivot for many in the commercial real estate industry as Covid-19 altered the way people work and entertain themselves, that is not the case for everyone. Certain Toronto luxury real estate properties endured the storm, so to speak, and came out unscathed.

For some, the maintenance of building occupancy has been a mounting concern that has left a number of properties vacant and exposed landlords to a whole new assortment of perils. This has spurred some commercial real estate owners to repurpose spaces and include new amenities in order to facilitate hybrid working. As a result, the landscape has been evolving.

Toronto luxury real estate

That, however, has not been a concern for The One in downtown Toronto. The lavish 85-storey skyscraper at Yonge and Bloor is located at one of the most important intersections in Toronto. Despite much of the sales process taking place during an unprecedented global pandemic–and a fundamental paradigm shift in employer-employee relationships–the property is showing incredible strength from sustained demand.

Commercial space at The One is fully leased and sold out. On the residential side of the development more than 82% of the units have been sold.

“There simply is not much left,” Sam Mizrahi, who is developing The One, said, noting that if they had not added 9 additional floors of residential space, then the development would be 95% sold out for the units and sizes that had been previously sold.

Adding 9 additional floors to bring The One to 94 floors speaks volumes to the demand for downtown luxury condominium living. The Toronto real estate and specifically the condominium market has only grown stronger despite naysayers.

Why is the phenomenon particularly exhibited in Canadian cities?

Canadian cities and Canadians, themselves, are resilient, and find the cultural opportunities and proximity to others enriching and important.

“The culture of Toronto remains vibrant and world-class. For families and companies to find their homes at The One is significant. Lives will be built and memories created. That means something, particularly since the pandemic showed how much humans need each other,” Mizrahi said.

The One could be interpreted as indicative of the strength of real estate in certain very central areas and more specifically to properties that cater to a specific niche, according to Mizrahi.

Now there is movement in Canadian cities as Covid restrictions are being lifted, friends and family are gathering in restaurants, pubs, theaters and other gathering places. Brick-and-mortar commercial properties are once again ready for consumers to walk through their doors. There is a resurgence of the joys of human interaction and commerce.

Hope on the Horizon

Commercial real estate has been forced to take a keen look at human behavior. What do people want and where do they want to live and work?

According to Sam Mizrahi, developer of The One located in downtown Toronto, there has been a sort of renaissance in the industry as human needs are explored more fully by those offering amenities.

“The attention paid to people’s changing priorities should prove tremendously beneficial to those working from home and living in cities,” said Mizrahi.

Also, as restrictions loosen, people are returning, and this is serving as a boon to the real estate industry in choice areas.

Other articles from – –

Mtl Wine Gal

Mtl Wine Gal bringing affordable high-end private imported wine to your table

Sonia Zarbatany

Pivot your life and business with life coach Sonia Zarbatany

SHAN Collection from Montreal

Hottest and latest bikini styles

Share on facebook
Share on twitter
Share on linkedin
Share on email
Is it possible to get an A for a 5-paragraph essay assignment in 1 hour? We can safely say yes, a student can get an A+ mark if he turns to EduJungles

culture of gambling

How did the culture of gambling begin in Canada?

You can bet on almost everything, especially in Canada however had did the culture of gambling begin? Although the industry has blossomed in the past 3 decades, and there are now various options for online sports betting Canada, there was a time when things were different. Earlier, the government was in charge of keeping the

Montreal Street Food Festival

Montreal Street Food Festival coming soon – Check your calendar

The Dreamlab Group presents the second edition of Montreal Street Food Festival. The four day event will focus on seamlessly blending the best qualities of food festivals, and traditional night markets. The amazing chefs from Imadake, Ca Lem, Ichigo Ichie, Cuisine de Manille, Gon Bui, Shifu, Chef Lee, Elot’Hey, La Toxica, Papi Churros, La Bêtise,

car for cash

How can you get rid of your old car for cash?

No matter how much you want to keep your favourite car, its engine and other parts get old. When this time comes, keeping it can do more harm than good. Instead of taking space in your garage, why not get rid of it to earn cash? cash. Keep reading to find out how. Since most

Montreal’s drinking water quality

Pierrefonds-Roxboro interruption of water supply

The urban agglomeration of Montréal announces that a notice of interruption of water supply is currently in effect in an area of Pierrefonds-Roxboro borough due to repair work required for a water main break located on Boulevard de Pierrefonds. Urban agglomeration teams are currently carrying out emergency repair work to fix the broken water main

Great online casino in Canada

Top 5 signs you picked great online casino in Canada for you

The online gambling industry is growing rapidly. Lots of new casinos appear each month. Some of them are good, others are average, but most of them are pure junk. Are you considering joining an online casino but are unsure if it’s a good one? You don’t want to spend your time and money on a

gambling laws of Canada

Understanding the gambling laws of Canada

Gambling has always existed in Canada. Yet, the gambling laws have changed over the years, making it a little confusing to know what is legal and what is illegal. Here is a quick overview of the gambling laws in Canada, and how you can gamble legally. The gambling laws of Canada are a little difficult

Mtltimes Subscription

The latest on what’s moving Montreal and the world – delivered straight to your inbox