Toronto needs luxury. The city is home to major sports clubs, a thriving and bustling theater and entertainment district, countless music festivals and of course the Toronto International Film Festival which really brings out the stars. Hey, we even have 416 born Drake popping into town to see his beloved Raptors. Demand for luxury in Toronto, especially in the downtown core has shown an unprecedented build up of luxury hotels and condo style hotels that cater to the elites that live and pass through the city.
All that luxury comes at a price and reflective of Monopoly’s Board Walk and Park Place, Toronto real estate prices are on the high end the spectrum. The city consistently appears on top 10 lists of expensive real estate markets.
And now another Toronto real estate milestone approaches as the Four Seasons goes up for sale and could command the largest price for a hotel in Canada.
The opulent Four Seasons is located in the super trendy Yorkville area of the city and is literally in the centre of the action with direct access to everything worthwhile in Toronto.
The property is owned by a Saudi Prince which may add to the mystic and possibly the selling price.
Prince al-Waleed bin Talal’s Kingdom Holding Company has pegged the value between $200-$250 million making it the highest priced Monopoly move in Canada. The iconic Fairmont Royal York Hotel recently sold for just over $185 Million which was a record at that time.
Yes, Toronto’s real estate insanity extends to hotel and commercial properties too.
Four Seasons has been offering luxury hotel accommodations since 1961 and opened its doors in Toronto making this particular hotel even more special. The 250 room Yorkville property launched on a very desirable corner in 2012 and has been a major rendezvous point for elites and red carpet events for the various venues that come to the city.
By Doron Levy Courtesy TheTopTier Digital Media / Source: The Globe and Mail