On Montreal Ritz Carlton, Condos and Diamonds

Remember the Ritz Carlton closing in the summer of 2008? Two weeks ago it was announced that the Project – estimated for 150 millions, with 130 rooms and 48 luxury apartments, will be delivering by December 2011 or January 2012. And, get this: More than HALF of the units are already sold AND the majority of buyers are QUEBECERS. The Ritz’s CEO expected less local buyers. And I admit, I did too. A friend once said (about the project): There is no way that Montrealers are jumping to buy a 2 to 12 million dollar condo when they can get a house for that amount. And he continued: Even the ones who have that amount of money won’t do it. Only New Yorkers do that kind of purchase. New yorkers and Torontonians. At the time of that conversation, there was no news about multi-million condo purchases like the 28 Million dollar condo in Toronto. Back to the Ritz Carlon Condo- and before I forget to mention: The jeweler Tiffany will be opening shop in the Montreal Ritz. Good enough reason to purchase a 12 Million dollar condo? You tell me. In the market for a condo? Contact us to view the best units in town!