AB8 Group focuses on untapped segment of the housing market for $25 million brownstones
TORONTO, Dec. 12, 2017 /CNW/ - In an unprecedented move, AB8 Group is targeting sophisticated urban dwellers -- an untapped segment of the Toronto housing market -- for its two, four-storey, 12,000 plus sq. ft. Forest Hill brownstones, each valued at $25 million.
The high-end builder, well-known for extraordinary attention to detail, unveiled the project located at 469 Spadina Rd. earlier today. AB8 is working with the country's most impressive talent, including premier architect Richard Wengle, Master Chef Mark McEwan and Neff Kitchens, to create a luxury product offering a seamless blend of heritage and history in the heart of Forest Hill Village.
"Call it the New York effect," says luxury realtor Barry Cohen, RE/MAX Realtron Barry Cohen Homes who is representing the project. "We've seen a real upswing in demand for more sophisticated urban properties from both local and foreign buyers, many of whom are looking for boutique properties in close proximity to shops, restaurants and amenities. AB8's brownstone residences bridge the gap between single-detached homes on generous lot sizes and luxury condominium apartments by offering the best of both worlds."
Once the site of a five-storey apartment complex, 469 Spadina Rd. promises the grandeur of a bygone era with its brownstone design. Based on the four-storey townhomes found in the US and Europe at the turn of the century, the innovative concept capitalizes on urban elegance in the 21st century. The brownstones are an ideal fit with Forest Hill's mix of new and historic properties.
While the exterior is characteristic of a New York town or brownstone, the interior is pure South Beach. Each floor is designed with a purpose. The first floor is ideal for entertaining while the second floor is all about comfort and relaxation. The third and fourth floors are dedicated living quarters. The basement features a state-of-the art gym and multi-car garage for the car enthusiast. The rooftop terrace is in a class by itself, offering an unobstructed view of the city, all within a stone's throw of Forest Hill Village, neighbourhood parks and the Beltline.
Cohen is not aware of any similar-type property in the GTA, nor does he expect to see another one like 469 Spadina Rd. again. "This is a once in a lifetime opportunity."
AB8 Group did their homework when scouting locations for this project. Forest Hill is one of the city's most prestigious communities, with historic architecture ranging from English Tudor, Georgian to French Colonial dating back to the early 1900s. The neighbourhood is largely populated by professionals, with an average household income that is more than double the city's metropolitan area average. Forest Hill is home to some of the finest educational institutions in the country including Upper Canada College, Bishop Strachan and St. Michaels College.
"Once you factor in the property itself, the location, the proximity to Forest Hill Village and amenities, you're hard-pressed to find a remotely comparable product," says Cohen.
About AB8 Group
AB8 Group is a Canadian residential development firm specializing in urban infill. Since its inception in 2014, AB8 Group has been committed to bringing a new level of luxury to home design. Each and every project launched by the AB8 Group has transformed the concept of home from a basic live/work/play environment to an exquisite work of art; an escape from the everyday and a refuge for life's finest tomorrows. By leveraging market foresight, design intelligence, and industry knowledge, AB8 Group is helping to redefine luxury in Canada, the US, and the UK, one project at a time.
About Barry Cohen
Barry Cohen has been the GTA's top salesperson for luxury home sales over $3 to $35 million from 2010 to 2017 combined, according to statistics compiled from the Toronto Real Estate Board. He is ranked as RE/MAX' #1 sales team in Canada (2017, 2016, 2015, 2014), has earned global recognition by placing #2 worldwide twice for RE/MAX LLC, and is the recipient of numerous RE/MAX Awards, including their highest honour, the Luminary of Distinction.
SOURCE Barry Cohen Group
For further information: Barry Cohen, Realtor, RE/MAX Realtron, Office: 416.223.1818, [email protected], www.barrycohenhomes.com; Eva Blay-Silverberg, Point Blank Communications, Office: 416.781.3911 Cell: 416.505.0627, [email protected] or [email protected]