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1 Bloor St East – Project Update

Toronto-based Great Gulf Group of Companies, has purchased the stalled condo development from Kazakhstan-based Bazis International. Hundreds of buyers had lined up for weeks in 2007 to own a piece of the property, which featured units priced from $500,000 and up. The penthouse was reportedly sold for $25 million.

Purchasers will receive their deposit money back, Bazis International (the original developer) said in a statement. About 500 purchasers put down $70 million in deposits for their units.

Great Gulf Group builds homes, shopping malls and office towers throughout North America. It’s most recent Toronto condo projects include the X-Condos, 18 Yorkville, Charlie Condos, The Morgan and The St. James.

To read more on this project, read The Star’s article by Tony Wong.

 

>>Click here to contact me if you want to buy or sell a Toronto condo or loft

 

Casey Ragan

“Toronto’s Condo Authority”

Toronto Condos and Lofts

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