Record-Setting Penthouse Hits Mississauga Market for $15M
Mississauga has a new multi-million dollar penthouse on the market.
And if you have a cool $15M, it can be yours.
Today, Camrost Felcorp released the details for its 10,000-square-foot penthouse suite at EX3 in the upcoming Exchange District, an award-winning master-planned community in the heart of downtown Mississauga.
Its steep price tag marks a record-setting amount for a pre-construction condo unit in the City of Mississauga.
“The launch of the upper penthouse sets a new bar for condo pricing for the residential real estate market,” says Camrost Felcorp’s Vice President of sales and marketing Christopher Castellano. “With today’s penthouse release, Camrost has boldly demonstrated to purchasers, brokers, and our development sector colleagues that luxury living has a new home in the GTA, and it can be found in downtown Mississauga.”
Comprising the entire top floor of the 66-storey tower, the suite offers nearly 8,000-square- feet of interior living space, with more than 2,000-square-feet of balconies, 360-degree views of downtown Mississauga, views of the Toronto skyline, and of Lake Ontario.
The view-filled home cuts no corners when it comes to all the must-haves and nice-to-haves for the luxury-only set.
Talking points include things like a private wine cavern, five large bedrooms with staff quarters, two laundry rooms, two large walk-in closets, spa-inspired ensuites, and a private fitness space and fully-equipped gym, among other unparalleled features and finishes. Offering the appreciated perk of privacy, the suite is accessed by elevator service that carries residents to their penthouse suite from their private, below grade garage with space for five cars.
The release of the penthouse suite at EX3 follows the sold-out launch earlier this fall of the tower’s non-penthouse level units. That release saw approximately 505 units (in a range of layouts) sold with prices starting at $550,000.
When combined with sales in 2019 of the first two residential phases at the Exchange District (known as EX1 and EX2), the developers have sold over 1,500 condominium suites in the 3.5-acre mixed-use development located at City Centre Drive and Kariya Gate, directly across from Square One.
Comprising three condominium towers, a rental residence and hotel, the project has been recognized as critical urban element in the creation of the new Mississauga City Center.
“We helped pioneer the residential intensification of the Mississauga City Centre, and have welcomed additional developments from our colleagues in the Square One neighbourhood in the ensuing years,” adds Christopher Castellano. “So, we were not surprised to see purchasers respond so overwhelmingly to condominium opportunities in this part of the GTA.”
Like other parts of the Greater Toronto Area (GTA), home prices in Mississauga have climbed to new heights as of late. But, it’s still relatively (key word) more affordable than Toronto’s downtown core.
“Since the sale of our first unit at the Exchange District in 2019, through the recent release of units at EX3, buyers have recognized the unique opportunity for urban living in this pocket of the GTA, and more importantly, the value it offers on a price per square foot, compared to downtown Toronto,” says Castellano.
Clearly, however, with its $15M price tag, the purchases of this all-frills-attached penthouse will not be motivated by comparative pricing. “Instead, for the purchaser of this penthouse suite it will be about just one thing – luxury,” adds Castellano.