CONDOMINIUM

CITYLIGHTS ON BROADWAY

99 Broadway

Pemberton Group

Rudy Wallman

Cecconi Simone

  • 30
  • 900
  • 360 – 1,365 sq. ft.

Results

The developer achieved its sales test in less than 10 months of opening, allowing for both buildings to be built together, saving time and money for the developer.

Challenges

  • Opening in the most concentrated submarket in Toronto (7 competitive projects at the time)
  • 8’6” ceiling heights in a competitive environment of 9’ ceilings
  • Both towers needed to be sold quickly in order to ensure construction could begin on both buildings simultaneously

Strategy

Launching in the most concentrated sub-market at the time (7 competing projects) with the least appealing location, a targeted opening approach was used to capitalize on high interest in the area. Much time and attention was paid to the interior suite sizes and layouts prior to launch to ensure a quick absorption and low end prices. Extra efforts were made in the pre-launch stage to ensure that the amenity product would be perceived as superior in every way to its closest competitor. Special time and attention was paid to the amenity areas -renderings highlighted these unique spaces. Dedicated support from a senior team leader with strategic support from other senior staff ensured no detail in the complicated project was overlooked. A tiered co-operative broker program with strategic incentives was used to attract buyers through the initial launch.