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Done Deals: Renovated Home in Midtown Toronto an Alternative to Pricey New Builds

POSTED ON July 21st  - POSTED IN Done Deals, Elli's Archives, Featured News

Done Deals: Renovated home in midtown Toronto an alternative to pricey new builds

SYDNIA YU686 Oriole Parkway

Special to The Globe and Mail

Published Thursday, Jul. 20, 2017

 

686 Oriole Parkway, Toronto

 

ASKING PRICE: $1.785-million

SELLING PRICE: $2-million

PREVIOUS SELLING PRICE: $760,000 (2001)

TAXES: $8,613 (2016)

DAYS ON THE MARKET: Two

LISTING AGENT: Elli Davis, Royal LePage Real Estate Services Ltd.

 

The Action: Midtown properties were in short supply this May, so this two-storey house on a 27-by-187-foot lot only had eight visitors before one tabled a pre-emptive offer.

 

“Brand-new homes would be quite a bit more money, but because this was a little older and in excellent condition, it offered better value,” said agent Elli Davis, who explained that newly built houses can command up to $3-million. “[Plus] Allenby school is a big draw in that area.”

 

What They Got: A portion of a short street north of Eglinton Avenue has houses that back onto Eglinton Park and Marshall McLuhan Catholic Secondary School to the east and west respectively. In the latter category is this 32-year-old house with a garage accessible from a lower-level recreation room with a wet sauna and gas fireplace.

 

High-traffic quarters encompass an eat-in kitchen with an island and an open entertaining area with a second fireplace and a pair of French garden doors.

Upstairs are three bedrooms and two of four bathrooms.

 

The Agent’s Take: “The best parts of the house were that it was detached, has a very spacious main floor and an open concept living/dining area that walked out to a very deep and beautiful tiered garden,” Ms. Davis said.

“It also had very pretty street presence and beautiful landscaping, front and rear, which enhanced the home.”

LA Times: Foreigners Buy Record Numbers of US Homes Despite Fears of Immigration Crackdown

POSTED ON July 19th  - POSTED IN Elli's Archives, Featured News

I had the pleasure of being interviewed by Andrew Khouri of the LA Times about the reasons why Canadians are investing in American real estate. Read the full article below:

Foreigners Buy Record Numbers of US Homes Despite Fears of Immigration Crackdown

By: Andrew Khouri, Contact Reporter for LA Times

Published: July 18, 2017

Foreign home buyers scooped up a record number of residential properties in the United States in the last year, despite a rising dollar and political uncertainty, according to a survey released Tuesday.

The National Assn. of Realtors said foreigners bought 284,455 properties in the 12 months that ended March 31, about a third more than a year earlier. Dollar volume surged nearly 50% to $153 billion, also a record for the survey first taken in 2009.

Chinese nationals were the biggest buyers, purchasing $31.7 billion worth of property, up from $27.3 billion a year earlier and more than ever before, the Realtors said. la-times-snap-image

But the largest increase came from a surge in buyers from Canada, where prices have skyrocketed in recent years, partially due to Chinese investment there.

Canadians purchased $19 billion worth of residential property, compared with $8.9 billion in the 12 months ended March 2016, the Realtors said in their annual report on international investment.

Lawrence Yun, the association’s chief economist, said sky-high home prices in Canada, especially in the big cities of Toronto and Vancouver, were behind the surge.

The provincial governments overseeing those two cities have even instituted additional property taxes on foreign buyers, after complaints Chinese investors there caused the market to spiral out of control.

Toronto real estate agent Elli Davis said buyers are cashing out and using the money to buy smaller homes in Canada and second houses to vacation in the United States, usually in Florida.

The Canadians love your weather,” Davis said. “And we have more money because of our real estate market here — that’s really the answer.”

The dramatic jumps come despite a higher U.S. dollar that has made properties more expensive for many foreigners.

In addition, the survey period includes the U.S. presidential campaign and the beginning of the administration of President Trump, who has a history of divisive rhetoric against immigrants and has called for restricting both legal and illegal immigration.

 “The political and economic uncertainty both here and abroad did not deter foreigners from exponentially ramping up their purchases of U.S. property over the past year,” Yun said. “Foreigners increasingly acted on their beliefs that the U.S. is a safe and secure place to live, work and invest.”

Yun said buyers may have been motivated because of a rising dollar, eager to get into the U.S. market before their own currencies could buy even less.

Still, even with all that growth, foreign buyers only accounted for 5% of all previously owned home sales during the 12-month period, up from 4% in the prior survey.

California made up 12% of foreign-purchased homes by dollar volume, tied with Texas and second only to Florida, which accounted for 22% and where most foreign buyers are from Latin America and Europe.

Foreign buyers in California purchased $35 billion worth of properties, up from $27 billion a year earlier.

The national association could not provide data on the number of foreign sales in the state. But the increase in dollar value far exceeds gains in the median home price, which would indicate there were more sales as well.

Buyers from Asia and Oceania represented 71% of foreign buyers in California compared with 51% a year earlier, the Realtors said in their report.

The survey results run counter to observations from real estate agents in Southern California, who said they have noticed a slowdown in Chinese buyers.

Agents have said luxury properties in the San Gabriel Valley marketed toward Chinese buyers are taking longer to sell, as Beijing has cracked down on the amount of capital that can taken out of the country for foreign investments.

“It’s not easy to move funds from China,” said Helen Chen Marston, a San Gabriel Valley real estate agent. “The luxury home market stopped.”

She said there are far more Chinese buyers for properties under $1 million, but even that market is a bit slower than last year.

“You are facing the same problem” of stricter controls, she said.

However, William Yu, an economist with the UCLA Anderson Forecast, wasn’t particularly surprised over the increase in Asian buyers in California.

He said the most restrictive measure to stem outflows from China came at the end of 2016, meaning a good portion of the survey covered a time with less-strict regulations. As home prices have risen in California and capital restrictions increased, he said buyers from China might simply be casting a wider net for cheaper properties.

“California is big, and Los Angeles is big,” said Yu, who studies the effect of the Chinese economy on the U.S. “We are probably seeing more and more Chinese buying across the region than in the past.”

Still others were surprised over the report.

Leslie Appleton-Young, chief economist with the California Assn. of Realtors, said in addition to reports over fewer Chinese buyers, some agents in the Palm Springs area had Canadian clients looking to sell after the election, given the uncertainty over U.S. immigration policy.

“I was expecting to see the numbers about the same or a little less,” she said.

Yun, in a news release, acknowledged Realtors in some markets have seen less interest from Chinese buyers this year and that foreign investment overall may not keep increasing.

“Stricter foreign government regulations and the current uncertainty on policy surrounding U.S. immigration and international trade policy could very well lead to a slowdown in foreign investment,” he said.

Nearly 6,000 Realtors responded to the survey, which the association said has a margin of error of plus or minus 1 percentage point. The number of homes sold and dollar volume are extrapolated from those answers.

The survey defines foreign buyers to be non-U.S. citizens with permanent residences outside the country, as well as noncitizens who have lived here for more than six months on temporary visas or immigrants who have lived here less than two years.

The majority of properties purchased, 64%, were single-family houses, followed by condos, town homes, other miscellaneous properties and other residential land.

The median price of homes purchased by foreign buyers was $302,290, compared with $235,792 for all homes sales. The difference is in part because foreign buyers tend to purchase in large, pricey metropolitan areas.

Foreigners Snap Up Record Number of US Homes: CNBC

POSTED ON July 19th  - POSTED IN Elli's Archives, Featured News

I was interviewed by Diana Olick of CNBC about what makes American real estate so popular for Canadians. Read the full article below:

Foreigners Snap Up Record Number of US Homes

Diana Olick, CNBC Real Estate
Tuesday, 18 July 2017

Foreign purchases of U.S. residential real estate surged to the highest level ever in terms of number of homes sold and dollar volume.NAR2017InternationalProfileInfographic

Foreign buyers closed on $153 billion worth of U.S. residential properties between April 2016 and March 2017, a 49 percent jump from the period a year earlier, according to the National Association of Realtors. That surpasses the previous high, set in 2015.

The jump follows a year-earlier retreat and comes as a surprise, given the current strength of the U.S. dollar against most foreign currencies, which makes U.S. housing even more expensive. Apparently, the value of a financial safe-haven is outweighing the rising costs.

Foreign sales accounted for 10 percent of all existing home sales by dollar volume and 5 percent by number of properties. In total, foreign buyers purchased 284,455 homes, up 32 percent from the previous year.

Half of all foreign sales were in just three states: Florida, California and Texas.

Chinese buyers led the pack for the fourth straight year, followed by buyers from Canada, the United Kingdom, Mexico and India. Russian buyers made up barely 1 percent of the purchases.

But the biggest overall surge in sales in the last year came from Canadian buyers, who scooped up $19 billion worth of properties, mostly in Florida. They are also spending more, with the average price of a Canadian-bought home nearly doubling to $561,000.

There are more [baby] boomers now than ever before. It’s the demographic,” said Elli Davis, a real estate agent in Toronto who said she is seeing more older buyers downsize their primary home and purchase a second or third home in Florida. “The real estate here is worth so much more money. They all have more money. They’re selling the big city houses that are now $2 million-plus, where they went up so much in the last 10 to 15 years, so they’re cashing in.

Despite the anti-immigrant rhetoric from the Trump administration, especially about building a wall between the U.S. and Mexico, nonresident buyers from Mexico were undeterred. Mexican buyers nearly doubled their purchases by dollar volume from a year earlier, coming in third behind China and Canada.

“You could easily make the point that perhaps their uptick was wanting to buy now before new immigration policy was in place,” said Adam DeSanctis, economic issues media manager at the National Association of Realtors.

In general, though, Mexicans have been buying less expensive homes. The average purchase price of buyers from Mexico came in at about $327,000, compared with the $782,000 average among Chinese buyers and $522,000 for Indian buyers. Mexicans overwhelmingly favored homes in Texas, while Chinese buyers opted more for California and, increasingly, Texas.

“The environment is much more Asian-friendly than it used to be with churches, grocery stores and schools that cater to their tastes,” said Laura Barnett, a Dallas-Fort Worth area Re/Max agent. “I have been told they target good schools and newer homes. Yards are not a high priority, but rather community parks.”

It’s also possible that Chinese buyers are being priced out of California. The average price of a home purchased by a buyer from China fell from about $937,000 to $782,000, even as the number of properties purchased jumped to nearly 41,000 from 29,000. The drop in purchasing power likely stems from tightened regulations in China with regards to capital outflow.

While international interest was quite strong in the second half of last year, it may now be weakening due to tighter regulations in China and weakening currencies in some international markets.

“Stricter foreign government regulations and the current uncertainty on policy surrounding U.S. immigration and international trade policy could very well lead to a slowdown in foreign investment,” said Lawrence Yun, chief economist for the NAR.

 

Done Deals: Two Bids Compete for Spacious, Two Storey Luxury Condo

POSTED ON May 29th  - POSTED IN Done Deals, Elli's Archives, Featured News

Done Deals: Two Bids Compete for Spacious, Two-Storey Luxury CondoOne Balmoral Avenue

1 BALMORAL AVE., No. 807, TORONTO

ASKING PRICE: $1,975,000

SELLING PRICE: $2,150,000

PREVIOUS SELLING PRICE: $1,250,000 (2004); $780,373 (1998)

TAXES: $8,324 (2016)

DAYS ON THE MARKET: Seven

LISTING AGENT: Elli Davis, Royal LePage Real Estate Services Ltd.

The Action: Owners at One Balmoral are often slow to relinquish their homes, so the listing of this two-storey, corner suite was a rare opportunity to purchase a unit there this spring. It was assessed by 16 buyers up close and drew two bidders armed with competing offers in late March.

What They Got: Spanning the eight and ninth floors of a nearly 20-year-old mid-rise is this 2,355-square-foot unit with exits to corridors on both levels, and nine- and 12-foot ceilings on the main and second floor, respectively.

A balcony wraps around the southern and eastern sides of main floor, so there are walkouts from every room, from the den to the updated galley kitchen. A two-sided gas fireplace divides living and dining rooms.

Several Juliet balconies bring fresh air into the larger of two bedrooms upstairs, complete with a walk-in closet and one of three remodelled bathrooms.

An ensuite laundry room, three lockers and two-car parking round out the unit. Monthly fees of $1,991 cover utilities, concierge, as well as fitness and recreation rooms.

The Agent’s Take: “The building is well located near Yonge and St. Clair, the subway and shops,” agent Elli Davis notes. “So a lot of people who looked at it lived in the area and were transitioning from a house to a condo.”

Its two-storey set-up and upscale appointments mimic features of many low-rise homes. “It had two full bedrooms, two full bathrooms upstairs on the second level, so it felt like a little house,” Ms. Davis notes. “It showed beautifully and had a fireplace, so that was appealing, too.”

Toronto Homeowners Opt To Lease After Cashing Out: Globe and Mail

POSTED ON May 2nd  - POSTED IN Elli's Archives, Featured News

The Globe and Mail has published an article about a recent trend where home sellers are moving into rental properties rather than buying. There have been many shifts in the real estate market as of late, and everyone must adapt to remain relevant. Although I was not interviewed for the article, a photo of a property I just leased out for a client was featured.

Toronto Homeowners Cashed Out to Capitalize on High Prices – And Many Aren’t About to Dive Back In

JESSICA CAPARINI
THE GLOBE AND MAIL
PUBLISHED: WEDNESDAY, APR. 26, 2017

Justin Wheeler didn’t expect he’d start leasing in his 30s. He’s owned a house in Cambridge, Ont., for 10 years and raised a young family there. But he changed his mind after people started flocking to Cambridge to escape Toronto’s expensive real estate market, driving the average price of a house up more than 30 per cent in a year.

“In a couple years, we were going to sell. And then we saw people selling their houses for crazy amounts of money, so we said, ‘Screw it.’”

Last month, Mr. Wheeler sold his house for well over asking price – at twice what he paid. He thinks it’d be “crazy” to buy while the market is so high, so he’s searching for a bigger house to lease while he waits for it to fall.

Toronto-area realtors say interest in leasing high-end rental homes has surged as more and more owners do exactly what Mr. Wheeler did: Cash out and lease while they wait to buy in a cheaper A leased home at 62 Elm Ave. A declining number of listings could make leasing as competitive as buying.market. Ashley Gollogly, a local realtor, says this is setting Toronto’s high-end leasing market “on fire” – and helping to drive its prices up.

“[It] has always been crazy, but I think in the last six months it’s gotten more so just with the ones that have been selling their houses and taking a break from the market.”

With housing prices in Toronto at record highs, more people are looking to lease – and the increased demand is driving leasing prices higher. Realosophy Realty, a brokerage that collects statistics on housing in Toronto, found 403 new listings of high-end homes – defined as properties asking $4,000 a month and up – in the first quarter of 2017; a 35-per-cent increase from the same period last year. Of those listed, 219 were actually leased out – a 53-per-cent year-over-year increase.

A search of online realty sites turns up homes in the Greater Toronto Area that come with Victorian-style furniture, whirlpools, outdoor kitchens – and price tags as high as $25,000 a month.

Andy Taylor, of Sotheby’s International Realty, represents a Yorkville brownstone listed at $23,500 a month. It has 3,000 square feet of living space, has three bedrooms and no garage, but Mr. Taylor says there’s a market for furnished rentals in great locations, even at this price. So far, he’s seen interest from executives moving to Toronto and from people who sold their house.

Years ago, such leases were popular with businesspeople and athletes who relocated their families after finding temporary jobs in the city. Now, people who have just sold a home – often for a price they never dreamed they would get – are pushing into the leasing market flush with cash.

“People don’t want to take all their money they’ve made in appreciation of their family home and sink it back into real estate,” says local sales representative Jimmy Molloy, of Chestnut Park Real Estate Ltd.

Ehson Rahmati, of World Class Realty Point, who sells and rents condos in the GTA, sees the same story playing out in high-end condo rentals. Interest in large condos increased “tremendously” last year and in March, he says.

“A lot of people obviously are moving out of their houses, so a lot of these smaller condos won’t cut it for a family. So a lot of the bigger two-bedroom, three-bedroom penthouses or just bigger units are being rented.”

The Canada Mortgage and Housing Corp.’s Rental Market Report for the fourth quarter of 2016 found the average price for condos with three or more bedrooms increased by 16.35 per cent last year. In comparison, the average price of a one-bedroom apartment increased by 7.30 per cent.

It’s not just Ontario’s recent moves aimed at curbing the housing market that have some convinced that the market is set for a slowdown, and soon. For Ms. Gollogly, it was the election of Donald Trump. For Mr. Wheeler, it is his conviction that the Bank of Canada will raise interest rates.

Penny Brown, a realtor with Sotheby’s International Realty Canada, has noticed a couple trends: People are insisting on closing sales quickly, as if the market could crash any day; people are downsizing while they’re still young; and people are moving into nearby cities such as Cambridge or Hamilton to work remotely.

While selling and leasing might offer the chance to cash in on a rising market, the sellers still need a place to live and may find leasing too expensive.

Terri Roberts lives in a Markham house worth three times what she originally paid. She wants to sell, and rent in the city so her two children have access to the perks of Toronto and to reduce her daily commute. So far, she and her realtors haven’t found a three-bedroom place that’s within her budget and in a neighbourhood that she’s comfortable living in.

“It’s frustrating. Very frustrating.”

Mr. Wheeler is having similar troubles. Although his house sold at a good price for Cambridge, a declining number of listings has made leasing as competitive as buying. And although he’s convinced banks will raise interest rates in the future, leading to a market collapse, he admits there’s no way to tell when that might happen or what the effect on the Cambridge real estate market might be.

“At this point, [the sale feels] good, but who’s to say it’s not going to get even worse and I’ll have gotten out too early? That’s the gamble you take.”

 

Done Deals: Open House Valuable Marketing Tool for German Mills Home

POSTED ON April 6th  - POSTED IN Done Deals, Elli's Archives, Featured News

Done Deals: Open House Valuable Marketing Tool for German Mills Home   83 Simonston Blvd

SYDNIA YU

Special to The Globe and Mail

Published Thursday, Apr. 06, 2017

 

83 SIMONSTON BLVD., THORNHILL, Ont.

ASKING PRICE: $1,685,000

SELLING PRICE: $1,641,000

PREVIOUS SELLING PRICE: $379,000 (October, 1998); $357,500 (February, 1998)

TAXES: $5,589 (2016)

DAYS ON THE MARKET: 18

LISTING AND CO-OP AGENT: Elli Davis, Royal LePage Real Estate Services Ltd.

The Action: For over two weeks late last year, this four-bedroom home with an attached double garage hosted 19 private showings and a public open house. “A lot of people think open houses are a waste of time, but I decided to do it that weekend and strangely enough, [the buyers] came in, loved it and came back,” agent Elli Davis says.

What They Got: Various updates to this roughly 35-year-old residence keep it looking contemporary, yet classic. For instance, hardwood floors and mouldings grace an open dining space, entertaining area with a gas fireplace and rear family room with a walkout to the patio and garden beds lining the 60-by 138-foot lot.

For more casual activities, there is a lower level gym and recreation area with another fireplace, plus a guest room.

Cooking and cleaning is convenient with four bathrooms, including one in the master upstairs, and an updated kitchen with an island, marble floors and stone counters.

The Agent’s Take: “The appeal was the school district and Bayview country club, and it’s close to the Don Valley Parkway and 407 [highway],” Ms. Davis notes.

Done Deals: Opening Bid Shuts Down Competition

POSTED ON January 18th  - POSTED IN Done Deals, Elli's Archives, Featured News

Done Deals: Opening Bid Shuts Down Competition                                                          26 McNairn Avenue

Done Deals: Older Condo North of Yorkville Offers Plenty of Privacy

POSTED ON January 10th  - POSTED IN Done Deals, Elli's Archives, Featured News

Done Deals: Older Condo North of Yorkville Offers Plenty of Privacy           2-photo-web-1680x1050-360406

Sydnia Yu

Special to the Globe and Mail

Published Thursday December 8, 2016

225 DAVENPORT ROAD, No. 101, TORONTO

ASKING PRICE: $699,000

SELLING PRICE: $675,000

PREVIOUS SELLING PRICE: $481,000 (2006); $200,000 (1992)

TAXES: $3,357 (2015)

DAYS ON THE MARKET: 48

LISTING AGENT: Elli Davis, Royal LePage Real Estate Services Ltd.

The Action: Just a few blocks north of Yorkville, the Dakota residence often has a few vacancies. Although this one-bedroom-plus-den unit was among the smaller set, it had private outdoor space, so it was visited by 30 buyers and sold for $675,000.

What They Got: On the ground floor of a nearly 30-year-old mid-rise is this over 1,100-square-foot suite with a private patio, laundry facilities, storage locker and parking, plus monthly fees of $1,183 toward utilities, a gym, recreation room and rooftop deck.

The layout is fairly modern with a living area against a wall of windows, a central dining space and U-shaped kitchen behind a granite-topped peninsula and breakfast bar.

Private quarters entail a den and master bedroom with a walk-in closet and four-piece ensuite, which is the larger of two bathrooms.

The Agent’s Take: “[The building] is about a five-minute walk to Bloor Street and Yorkville, so it’s very well located to shops, subway and all that Toronto has to offer midtown,” agent Elli Davis states.

“It’s an older building, built in the eighties, so it’s not as glamourous as some of the new ones, but the price is very reasonable compared with the new ones.”

Plus, older suites such as this offers more space than newer counterparts, inside and out. “They don’t make one-bedrooms very often any more that are that size,” Ms. Davis notes. “It has a magnificent patio because it’s on the main floor, where you can barbecue, garden and be outdoors like in a house, yet have the condo lifestyle.”

Done Deals: Three Way Bidding War for a King’s Landing Suite

POSTED ON November 4th  - POSTED IN Done Deals, Elli's Archives, Featured News

Done Deals: Three Way Bidding War for a King’s Landing Suite            460 Queens Quay West

Sydnia Yu

Special to the Globe and Mail

Published Thursday, November 3, 2016

460 QUEENS QUAY W., No. 502E, TORONTO

ASKING PRICE: $1,048,000

SELLING PRICE: $1,111,880

TAXES: $5,225 (2015)

DAYS ON THE MARKET: Five

LISTING AGENT: Elli Davis, Royal LePage Real Estate Services Ltd.

The Action: There aren’t often many opportunities to buy at the King’s Landing building, so this two-bedroom-plus-solarium suite drew in more than a dozen visitors within a few days this summer. It sold in under a week in a three-way bidding war.

What They Got: On the south side of a 30-year-old mid-rise – with optimal views of Lake Ontario – is this 1,672-square-foot unit with a balcony accessible from both bedrooms and a sunroom with a curved glass ceiling.

Set further back from the windows is an open living room, a dining area and renovated kitchen behind pocket doors, as well as two full bathrooms, laundry and storage facilities.

The unit comes with parking and monthly fees of $1,211 to cover water, security and amenities, such as a pool and tennis court.

The Agent’s Take: “King’s Landing is a very nice building built in the eighties and was very innovative for its time facing the waterfront,” agent Elli Davis says. “A lot of downsizers have bought in there and don’t move, and there’s a lot of downtown [professionals] who … like the access to the island airport and Financial District.”

Done Deals: Market Galleria Suite Offers Easy Downtown Access

POSTED ON September 27th  - POSTED IN Done Deals, Elli's Archives, Featured News

Done Deals: Market Galleria Suite Offers Easy Downtown Access             71 Front St East

Sydnia Yu

Special to the Globe and Mail

Published Thursday, September 8, 2016

71 FRONT STREET EAST, No. 306, TORONTO

ASKING PRICE: $525,000

SELLING PRICE: $520,000

PREVIOUS SELLING PRICE: $227,000 (1999); $159,500 (1997); $147,000 (1996)

TAXES: $3,279 (2015)

DAYS ON THE MARKET: 35

LISTING AGENT: Elli Davis, Royal LePage Real Estate Services Ltd.

The Action: On the block next to the historic St. Lawrence Market, this two-bedroom suite at the Market Galleria was toured by about 20 buyers and transferred over to new owners once a $520,000 deal was inked this summer.

What They Got: At the centre of a mixed-use mid-rise built in the 1980s is an atrium visible from private suites, such as this 1,441-square-foot unit with the additional bonus of a south-facing balcony off the master suite.

For entertaining, there is an open principal room, while cooking and cleaning takes place in the tiled kitchen, two full bathrooms and laundry closet.

Parking comes with the unit, along with monthly fees of $1,269 for the cost of water, gym, guest suites and rooftop deck, plus a redecorated lobby and new elevators.

The Agent’s Take: “It has a very good layout with a generous living and dining room, open concept kitchen, two bedrooms and two full washrooms,” says agent Elli Davis.

“It’s very difficult to find something in this price range that offers that in this city today.”

The building is also anchored by popular bars, Jack Astor’s and Jersey Giant. “The building is partially offices and partially residential, which overlooks the atrium full of foliage, which is quite unique,” Ms. Davis adds.

“Plus, it has easy access to the Theatre District and Financial District, you can walk everywhere.”