Quote:
Originally Posted by Rico Rommheim
1 St. Thomas is my favourite one actually. Wish we had it here in mtl.
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Few in Montreal would be willing to maintain it; maintenance fees for a typical 1 bedroom unit in that building are $1500/month ($3500+/month for the larger 2/3 bedroom units). A good chunk of that is for replacement exterior stone and regular cleanings (stone is already stained despite it). In Montreal you can get a really nice 2500sqft condo in that maintenance fee range.
It would most likely be getting pretty shabby after 20 years of maintenance deferrals to get the fees down to something more reasonable and downright dumpy at 30+ years old.
That said, as a hotel in Montreal it might do alright. Just don't see how it would work as a residential building (nearly ground floor, shit view, street noise, and you're still paying $8,000/month in mortgage+taxes+fees).